Os fundos soberanos de riqueza como instrumento ao desenvolvimento integral

Abstract

The present work has the purpose to demonstrate that the sovereign wealth funds are instruments for the economic and social development in the era of globalization. Since the end of the year 2002, the commodities price has had a significant growth in the international market and, in parallel, some developing countries have accrued vast foreign exchange reserve. In such scenario, these countries have noted that they could invest in a profitable manner a portion of their foreign exchange reserve or a sum of capital derived from the trade of commodities. Especially after the 2008 financial crisis, the investments executed by the sovereign wealth funds were very relevant for the maintenance of the international financial stability and to avoid higher losses around the world. On the other hand, due to investments size, sovereign wealth funds activities have raised concerns in the investment recipient countries, which culminated with the adoption of certain measures in the domestic, regional and multilateral forum. Once the balance point is found between the rules adopted in several forums and the liberty to make investments by the sovereign wealth funds, it will also be encountered integral development in both home and host investment countries