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Sovereign Wealth Funds and Long-Term Investing$
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Joseph Stiglitz, Patrick Bolton, and Frederic Samama

Print publication date: 2011

Print ISBN-13: 9780231158633

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231158633.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 17 October 2021

Sovereign Wealth Funds and the Shifting Wealth of Nations

Sovereign Wealth Funds and the Shifting Wealth of Nations

Chapter:
Sovereign Wealth Funds and the Shifting Wealth of Nations
Source:
Sovereign Wealth Funds and Long-Term Investing
Author(s):

Javier Santiso

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231158633.003.0028

This chapter closes the panel discussion by claiming that, as a result of the rapid rise of emerging-market countries and the concomitant global imbalances, it is time for the world to reload our cognitive maps. The view that member countries of the Organization for Economic Co-operation and Development (OECD) are at the center and all other countries are at the periphery is rapidly becoming obsolete. The reshaping of global governance from the G-7 to the G-20 to the G-24 or G-77 is ample evidence of this rapid transformation. This reloading of cognitive maps, however, is particularly relevant for long-term investors, who need to be able to anticipate these fundamental changes to be able to profit from them in the long run.

Keywords:   sovereign wealth funds, SWF, Organization for Economic Co-operation and Development, OECD, global governance, cognitive maps, long-term investors

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