Please use this identifier to cite or link to this item:
|Title:||From national development to economic diplomacy? Governing Singapore's sovereign wealth funds|
sovereign wealth funds
|Source:||Yeung, H.W. (2011-12). From national development to economic diplomacy? Governing Singapore's sovereign wealth funds. Pacific Review 24 (5) : 625-652. ScholarBank@NUS Repository. https://doi.org/10.1080/09512748.2011.634076|
|Abstract:||This paper examines the changing role and governance of Singapore's two sovereign wealth funds (SWFs) over the past three decades - from their earlier participation in domestic national development to their more active involvement in Singapore's economic diplomacy. Based on a variety of sources and data, I argue that these two SWFs, Temasek Holdings and the Government of Singapore Investment Corporation, are state-sanctioned means to secure the economic future of Singapore; they are not strategic devices developed by the Singapore government to pose geopolitical or economic threats on other states. Over time, their economic functions and strategic orientations have evolved with the city-state's dynamic developmental trajectories in the global economy. In the post-Cold War era of global finance, these state-controlled and professionally managed financial investment vehicles are more visible and active in their global expansion and acquisition trails. There are thus significant challenges to their strategic governance and international legitimacy in this new world order. This paper considers some of these challenges in light of recent development in the two SWFs and assesses their organizational and institutional responses to such challenges in today's competitive global economy. This case study of Singapore's SWFs illustrates the critical importance for understanding the rise of SWFs from small states in the evolving global system. © 2011 Copyright Taylor and Francis Group, LLC.|
|Source Title:||Pacific Review|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Feb 19, 2018
WEB OF SCIENCETM
checked on Feb 7, 2018
checked on Feb 13, 2018
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.