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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

Sovereign Wealth Funds and the Shifting Wealth of Nations
Sovereign Wealth Funds and Long-Term Investing

Javier Santiso

Columbia University Press

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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