Constitutional Political Economy Dimensions of Sovereign Debt Policy, Foreign Aid and the Politicization of Pension Funds and Sovereign Wealth Funds

2021 ◽  
pp. 313-382
Author(s):  
Michael I. C. Nwogugu
Keyword(s):  
Political Economy ◽  
Foreign Aid ◽  
Sovereign Debt ◽  
Pension Funds ◽  
Constitutional Political Economy ◽  
Sovereign Wealth Funds ◽  
Debt Policy

scholarly journals The rule of rules

Public Choice ◽  
2021 ◽  
Author(s):  
Alan Hamlin
Keyword(s):  
Political Economy ◽  
Social Order ◽  
Political Order ◽  
Constitutional Political Economy ◽  
Rule Following ◽  
Rule Based

AbstractRules are central to the constitutional political economy (CPE) approach. On this approach, rules, of a variety of types and forms, are necessary for the emergence of a political and social order, so that all genuine political order is rule-based. The central role of rules within the CPE approach is examined starting from an explicit definitional discussion of the concept of a rule and including discussion of the nature of rule-following behavior, the supply of rules, and rule enforcement.

The Rise of State-Owned Investors: Sovereign Wealth Funds and Public Pension Funds

2021 ◽  
Vol 13 (1) ◽  
Author(s):  
William L. Megginson ◽  
Diego Lopez ◽  
Asif I. Malik
Keyword(s):  
Hedge Funds ◽  
Private Equity ◽  
Academic Research ◽  
Pension Funds ◽  
State Ownership ◽  
Public Pension ◽  
Annual Review ◽  
Publication Date ◽  
New Governance ◽  
Sovereign Wealth Funds

State-owned investors (SOIs), including sovereign wealth funds and public pension funds, have $27 trillion in assets under management in 2020, making these funds the third largest group of asset owners globally. SOIs have become the largest and are among the most important private equity investors, and they are key investors in other alternative asset investments such as real estate, infrastructure, and hedge funds. SOIs are also leaders in promoting environmental, social, and governance policies and corporate social responsibility policies in investee companies. We document the rise of SOIs, assess their current investment policies, and describe how their state ownership both constrains and enhances their investment opportunity sets. We survey the most impactful recent academic research on sovereign wealth funds, public pension funds, and their closest financial analogs, private pension funds. We also introduce a new Governance-Sustainability-Resilience Scoreboard for SOIs and survey research examining their role in promoting good corporate governance. Expected final online publication date for the Annual Review of Financial Economics, Volume 13 is November 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Familistic welfare capitalism in crisis: social reproduction and anti-social policy in Greece

2013 ◽  
Vol 29 (3) ◽  
pp. 204-224 ◽  
Author(s):  
Theodoros Papadopoulos ◽  
Antonios Roumpakis
Keyword(s):  
Political Economy ◽  
Social Reproduction ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
Welfare Capitalism ◽  
New Approach ◽  
The Family ◽  
Expanded Concept

Familistic welfare capitalism is a model of national political economy prevalent in many regions in the world (Southern Europe, Latin America, and Asia), where the family plays a double role as the key provider of welfare and a key agent in the model's socio-economic and political reproduction. The article offers a new approach to the study this model by adopting an expanded concept of social reproduction to capture its historical evolution, using Greece as a case study. Our empirical analysis of austerity measures on employment and pensions demonstrates, how, in the Greek case, a crisis of social reproduction of the traditional form of familistic welfare capitalism was already underway prior to the well-known sovereign-debt crisis. And further we show how the adoption of austerity measures and pro-market reforms is deepening this crisis by severely undermining the key pillars of familial welfare security while rapidly transforming the model into a political economy of generalised insecurity.

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