Tag Archives: Sovereign Wealth Funds

The (tenuous) link between sovereign wealth funds and corruption

Is it just me or are people becoming more and more desperate for certainty? This is the thought that occurs to me after reading Quartz’s recent attempt to draw out some sort of corruption forecast from the recent news that Angola has created a $5 billion sovereign wealth fund. To their credit, they did produce this handy chart as a good starting point for thinking about this topic:

The higher number on the x-axis is meant to convey a worse ranking in Transparency International’s Corruption Perceptions Index for oil producing nations around the world. Quartz readily acknowledges that this chart simply shows a static comparison taken today, without any notion of time-elapsed changes in corruption perceptions (not corruption). Its attempt to rectify that shortcoming is apparently this table:
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The next generation of Sovereign Wealth Funds: Panama, Italy and Israel

eFinancialNews has always had erratic paywall access and I’m not even sure how I’m able to see this right now, but I definitely want it on file, so I’m reposting the entire article here for future reference:

The next generation of SWFs: Panama, Italy and Israel
Sarah Krouse
07 Jun 2012

Sovereign wealth funds have become an increasing force in the world of global investing – with the value of funds topping $5 trillion at the end of April.

• Panama

A plan for the Savings Fund of Panama, a sovereign wealth fund that captures excess revenue from the 82km Panama Canal, has been approved by the state’s Cabinet Council and now sits with Congress. Continue reading