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Research Handbook on Sovereign Wealth Funds and International Investment Law
Research on the role of sovereign investments in a time of crisis is still unsatisfactory. This Research Handbook illustrates the state of the art of the legal investigation on sovereign investments, filling necessary gaps in previous research. Current focus is based on investment flows and trends, grounded in economic scenarios and objectives. Conversely, investigations from a legal standpoint are still few, namely disregarding the host states’ concerns about sovereign investments goals and tools. Hence, most of the many relevant drivers that affect current sovereign investments, be they FDI or portfolio investments, remain unexplained. This book investigates the juridical foundation of sovereign investments and extends our frontier of understanding.
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Critical Acclaim
Contributors
Contents
More Information
Research into the role of sovereign investments in a time of crisis is still unsatisfactory. This timely Research Handbook investigates the juridical foundation of sovereign wealth funds and investments and extends our frontier of understanding in this important area
Current research surrounding sovereign wealth funds is focused on investment flows and trends that are grounded in economics, neglecting to consider the role of law and governance in the investigation. From a legal perspective, the Handbook narrates a ‘passive’ side of sovereign wealth funds and state owned companies, exploring how and to what extent the legal constraints imposed by host States act as barriers to investments. Additionally, the ‘active’ side is also discussed and the influence of ethical principles, treaty re-negotiations and sovereign immunity practices on state investments considered.
A comprehensive reference on a complex area of research, the Handbook will be a valuable addition to the library of scholars and students interested in investment law, central banks, international economics and governance.
Current research surrounding sovereign wealth funds is focused on investment flows and trends that are grounded in economics, neglecting to consider the role of law and governance in the investigation. From a legal perspective, the Handbook narrates a ‘passive’ side of sovereign wealth funds and state owned companies, exploring how and to what extent the legal constraints imposed by host States act as barriers to investments. Additionally, the ‘active’ side is also discussed and the influence of ethical principles, treaty re-negotiations and sovereign immunity practices on state investments considered.
A comprehensive reference on a complex area of research, the Handbook will be a valuable addition to the library of scholars and students interested in investment law, central banks, international economics and governance.
Critical Acclaim
‘This Research Handbook is quite timely in its broad coverage of most, if not all, main aspects of SWFs, which have become such important players in the international investment arena. Thanks to the contribution of specialists with a diverse background in law, taxation, international economics, relations and governance, this book offers a comprehensive picture of their structure, functions, governance and practices. The analysis includes the impact that SWFs have both in individual host states where they invest and as agents of development in the global economy.’
– Giorgio Sacerdoti, Bocconi University, Italy
– Giorgio Sacerdoti, Bocconi University, Italy
Contributors
Contributors: G. Adinolfi, F. Bassan, M. Castelli, L. Catà Backer, A. De Luca, S. Ghahramani, K. Gordon, L. Hsu, A.Lee, F. Munari, J. Pohl, B.J. Richardson, P. Rose, F. Scacciavillani, M. Vellano, A. Viterbo, T. Weiler, E. Whitsitt
Contents
Contents:
PART 1 INTRODUCTION
Introduction Fabio Bassan
1. SWFs and State Investments: A Preliminary General Overview
Massimiliano Castelli and Fabio Scacciavillani
PART II SWFS AND OTHER FORMS OF SOVEREIGN INVESTMENT
2. Sovereign Wealth Funds: A Definition and Classification
Fabio Bassan
3. SWFs in Five Continents and Three Narratives: Similarities and Differences
Larry Catá Backer
PART III SWF AND INTERNATIONAL REGULATION
4. Santiago GAPPs and Code of Conducts: Limits and Chances of Negotiated Rules
Locknie Hsu
5. Policy Frameworks for SWF Investments - OECD and Host Country Perspectives
Kathryn Gordon and Joachim Pohl
PART IV SWF AND REGULATION AT REGIONAL AND NATIONAL LEVEL
6. The Foreign Investment and National Security Act Of 2007: An Assessment of its Impact on Sovereign Wealth Funds and State-Owned Enterprises
Paul Rose
7. The EU and Member States: FDI, Portfolio Investments, Golden Powers and SWFs
Anna De Luca
8. SWFs and Taxation: National, Bilateral and Multilateral Approach
Fabio Bassan
PART V SWF INVESTMENT PROTECTION
9. SWF and State Immunity: Overcoming the Contradiction
Giovanna Adinolfi
10. Sovereign Wealth Funds and Bilateral Investment Treaties’ New Models: Issues, New Trends and State Practice
Elizabeth Whitsitt and Todd Weiler
PART VI SWF’S RELEVANCE AND EFFECTS ON INTERNATIONAL INVESTMENTS
11. SWFs and Human Rights Protection
Salar Ghahramani
12. SWFs and Environmental Protection
Francesco Munari
13. SWFs and Development
Michele Vellano and Annamaria Viterbo
14. Social Investing without Legal Imprimatur: the Latent Possibilities for SWFs
Benjamin J. Richardson and Angela Lee
Index
PART 1 INTRODUCTION
Introduction Fabio Bassan
1. SWFs and State Investments: A Preliminary General Overview
Massimiliano Castelli and Fabio Scacciavillani
PART II SWFS AND OTHER FORMS OF SOVEREIGN INVESTMENT
2. Sovereign Wealth Funds: A Definition and Classification
Fabio Bassan
3. SWFs in Five Continents and Three Narratives: Similarities and Differences
Larry Catá Backer
PART III SWF AND INTERNATIONAL REGULATION
4. Santiago GAPPs and Code of Conducts: Limits and Chances of Negotiated Rules
Locknie Hsu
5. Policy Frameworks for SWF Investments - OECD and Host Country Perspectives
Kathryn Gordon and Joachim Pohl
PART IV SWF AND REGULATION AT REGIONAL AND NATIONAL LEVEL
6. The Foreign Investment and National Security Act Of 2007: An Assessment of its Impact on Sovereign Wealth Funds and State-Owned Enterprises
Paul Rose
7. The EU and Member States: FDI, Portfolio Investments, Golden Powers and SWFs
Anna De Luca
8. SWFs and Taxation: National, Bilateral and Multilateral Approach
Fabio Bassan
PART V SWF INVESTMENT PROTECTION
9. SWF and State Immunity: Overcoming the Contradiction
Giovanna Adinolfi
10. Sovereign Wealth Funds and Bilateral Investment Treaties’ New Models: Issues, New Trends and State Practice
Elizabeth Whitsitt and Todd Weiler
PART VI SWF’S RELEVANCE AND EFFECTS ON INTERNATIONAL INVESTMENTS
11. SWFs and Human Rights Protection
Salar Ghahramani
12. SWFs and Environmental Protection
Francesco Munari
13. SWFs and Development
Michele Vellano and Annamaria Viterbo
14. Social Investing without Legal Imprimatur: the Latent Possibilities for SWFs
Benjamin J. Richardson and Angela Lee
Index
