Los fondos soberanos de inversión como instrumentos para economías de inserción externa primario-exportadora

• Ramírez-Cendrero, Juan ^[1] ; Wirth, Eszter ^[1]
  1. [1] Universidad Complutense de Madrid

     Universidad Complutense de Madrid

     Madrid, España

     
• Localización: Panorama Económico, ISSN 0122-8900, ISSN-e 2463-0470, Vol. 24, Nº. 1, 2016, págs. 127-142
• Idioma: español
• DOI: 10.32997/2463-0470-vol.24-num.0-2016-1553
• Títulos paralelos:
  • Les fonds souverains comme instrument pour les économies d’insertion externe essentiellement exportatrices
  • Sovereign wealth fund as an instrument for primary commodity-producing countries
• Enlaces
  • Texto completo (pdf)
  • Texto completo
• Resumen
  • español

    Los Fondos Soberanos de Inversión (FSI) son inversores institucionales en manos de Estados que han experimentado un crecimiento sustancial durante los últimos años. Este artículo presenta los FSI prioritariamente como fondos de estabilización, como fondos de ahorro para la equidad intergeneracional y como instrumentos en el marco de estrategias de desarrollo, sobre todo en países dependientes de las materias primas. Este trabajo se complementará con el análisis de dos FSI (Arabia Saudí y Noruega) y sus desafíos en el contexto actual de turbulencias financieras y caída del precio de las materias primas, así como con unas enseñanzas para economías primario-exportadores que puedan impulsar el uso de este instrumento económico.

  • English

    Sovereign Wealth Funds (SWFs) are institutional investors in the hands of the States that have experienced substantial growth in recent years. This article primarily presents the SWFs as stabilization funds, as savings funds for intergenerational equity and as instruments within the framework of development strategies, especially in commodities dependent countries. This research is complemented with the analysis of two SWF (Saudi Arabia and Norway) and their challenges in the financial turmoil and drop of commodities prices; likewise, with some thoughts for primary exporter economies for encouraging the use of this economic instrument.

  • français

    Les Fonds Souverains (FS) sont des investisseurs institutionnels émanant d’un État qui ont connu une croissance substantielle au cours des dernières années. Dans cet article, on présente prioritairement les FS comme fonds de stabilisation, comme fonds d’épargne pour l’équité intergénérationnelle et comme instruments dans le cadre des stratégies de développement, particulièrement dans les pays dépendants des matières premières. Pour ce faire, on analyse de deux Fonds Souverains (l’Arabie Saoudite et la Norvège) et les défis qu’ils relèvent dans le contexte actuel de crise financière et de baisse des prix des matières premières. Enfin, on tire les enseignements adéquats pour que les économies essentiellement exportatrices promeuvent l’utilisation de cet instrument économique.

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