Sovereign Wealth Funds in East Asia

Seward, James ; Ulukan, Mustafa ; Kim, Mee Jung ; Tsubota, Hiroshi ; Gable, Timothy

World Bank, Washington, DC

关键词: ACCOUNTANT;    ACCOUNTING;    ACCOUNTING STANDARD;    ACCOUNTING STANDARDS;    ADVERSE EFFECTS;   

RP-ID  :  92932

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Sovereign Wealth Funds (SWFs) have beenin existence for many decades worldwide, however most SWFsin the East Asia and Pacific Region (EAP) are relativelynew.The emergence of the SWFs in Asia is largely aby-product of the strong economic development at East Asiancountries in the last two decades and the attendantaccumulation of foreign exchange reserves. However, thereare other types of SWFs in the region as well.The EAPregion is an ideal region to take a look at the issuessurrounding SWFs since Asia has the full range of fundsfrom long-established funds to brand new funds; from passiveportfolio investors to more aggressive strategic investors;from resource-backed funds to foreign reserve-backed funds;and, based in the largest, most highly developed economiesto the smallest, poorest economies in Asia. Therefore, theobjective of this report is to document the status ofSovereign Wealth Funds in the East Asia Region and tounderstand their governance structures. The report will alsoinvestigate how lack of standardized, long-term financialinstruments devoted to emerging markets leads funds to leakout of the EAP region, an area with significant investmentneeds. It presents facts from publicly available sources ontheir size, institutional structure, and investment operations.