Sovereign Wealth Funds: Stylized Facts about their Determinants and Governance

Joshua Aizenman, Reuven Glick

NBER Working Paper No. 14562
Issued in December 2008

---- Acknowledgments ----

A previous draft of this paper was presented at the conference on "Sovereign Wealth Funds in an Evolving Global Financial System" sponsored by the Australia National University Centre for Applied Macroeconomic Analysis, together with the Lowy Institute for International Policy, in Sydney, September 25-26, 2008. We thank Prasanna Gai for comments and Andrew Cohn for research assistance. The views expressed below do not represent those of the Federal Reserve Bank of San Francisco, the Board of Governors of the Federal Reserve System, or the views of the National Bureau of Economic Research.

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