Working paper
Government of Singapore Investment Corporation: Insurer of Last Resort and Bulwark of Nation-State Legitimacy.
- Abstract:
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The global financial crisis has shattered many illusions, one of which being that sovereign wealth funds (SWFs) are properly treated as arms-length investment institutions subject only to global standards of good governance. In fact, in a number of East Asian countries SWFs have acted as 'insurers of last resort' for their nation-states underwriting financial stability and social welfare. In this paper, we explain how and why this came to pass, arguing that this role serves to sustain the leg...
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Bibliographic Details
- Volume:
- WPG 09-05
- Series:
- Working Papers in Employment, Work and Finance
- Publication date:
- 2009-01-01
- URN:
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uuid:a0527b3a-4ca0-4604-b791-a927df691321
- Local pid:
- oai:economics.ouls.ox.ac.uk:14210
Item Description
- Language:
- English
Terms of use
- Copyright date:
- 2009
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