Booknotes: The New Economics of Sovereign Wealth Funds

The New Economics of Sovereign Wealth Funds by Castelli and Scacciavillani

Massimiliano Castelli and Fabio Scacciavillani, The New Economics of Sovereign Wealth Funds, Wiley Finance, 2012, 188 pages

This book is a welcome contribution to the analysis of sovereign wealth funds (SWFs). It is also a brave book. The single term, SWF, implies some homogeneity of both the purpose of these funds and the liabilities of the nations in which they reside. The reality is that the nations that own an SWF often share very little in common other than a current account surplus and a

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