The role of sovereign wealth funds in the economies of developing countries

Abstract

In recent years, the financial resources of the leading developing countries have been actively exported both by the governments investing in foreign assets and by the corporate sector, in the form of direct investments in foreign enterprises and projects. In the context of increasing global competition for promising industrial assets, a growing number of developing countries now turn to providing government support through sovereign investment funds, partly replenished by foreign ex-change reserves or by the surplus in budgetary revenues from exports.