Description:
The emergence of sovereign wealth funds (SWFs) has signaled a major reshaping of the world's economy : financial actors from developing countries playing on an equal footing with the financial giants of OECD countries. Beyond this spectacular emergence also lies promising news for the wealth of (developing) nations. SWFs may grow to become major actors of development finance : sovereign development funds. The international investment of SWFs is already increasing. If domestically, some SWFs tend to behave as development finance institutions, working to boost economic diversification or build strong national champions, in their international investment strategies their behavior resembles traditional investment funds, seeking performance and solid returns. JEL Classification : F30, O16