Asian Journal of International Law

Symposium: Sovereign Wealth Funds

Sovereignty, Accountability, and the Wealth Fund Governance Conundrum

Anna GELPERNa1 c1*

a1 American University Washington College of Law, United States of America

Abstract

Sovereign wealth funds—state-controlled transnational portfolio investment vehicles—began as an externally imposed category in search of a definition. SWFs from different countries had little in common and no desire to collaborate. This article elaborates the implications of diverse public, private, domestic, and external demands on SWFs, and describes how their apparently artificial grouping became a site for innovation in international law-making.

(Online publication May 12 2011)

Footnotes

* Associate Professor, American University Washington College of Law, Visiting Associate Professor, University of Pennsylvania Law School. Many thanks to Francine Barber, Chris Brummer, Kevin Davis, Rashmi Dyal-Chand, Victor Fleischer, Michael Froomkin, Mary Gardner, Tom Ginsburg, Eric Helleiner, Kara Karlson, Patrick Keenan, Thomas Laryea, Clay Lowery, Ralf Michaels, Christiana Ochoa, Brad Setser, Sean Sherlock, Brian Stewart, Kelly Targett, Edwin M. Truman, Matthew Tubin, Martin Weiss, two anonymous reviewers for the Asian Journal of International Law, and participants in conferences and workshops at the University of Chicago Law School, Georgetown University Law School, the National University of Singapore, American University Washington College of Law, Cardozo Law School, and Columbia University for helpful insights. The editors of this volume were beyond gracious in supporting this project.