New insights on the politics behind capital choices

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Read this book and you will understand why, paradoxically, countries with similar macro economic characteristics make very different capital choices in terms of whether creating SWFs and if so what type.

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You will discover why Hong Kong – despite similar pressures and domestic demands was not able to develop Singapore style SWFs; and why we observe very different SWF variation in small open economies of the Gulf.

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Get new important insights into why some surplus economies such as Switzerland are not expected to create SWFs; related to this why Swiss banks welcome international SWFs, whereas resisting the creation of a Swiss SWF?

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Lessons for countries that have created or consider the creation of SWFs

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Capital choices provides important insights for countries that consider the creation of a SWF (e.g. by following in Singapore's footsteps).

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You will uncover new insights on unintended consequences for countries that have SWFs and want to adjust existing mandates to a different geo-economic environment.

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New insights into the relationship between SWFs and other state related investment vehicles

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You will understand how SWF choices affect capital allocation within and across sectors of an economy.

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This book helps to design SWF policies that are integrated with other state related finance institutions (e.g., central provident funds, CPF). For example, the flowchart below illustrates the decision making model on the links between CPFs and SWFs.