Doctoral Dissertation Research: Sovereign Wealth Funds, Dependent Development, and the New Alliance Capitalism

博士论文研究：主权财富基金、依赖发展与新联盟资本主义

• 批准号: 1030638
• 负责人: Yuko Aoyama
• 金额: $ 1.15万
• 依托单位: Clark University
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2010
• 资助国家: 美国
• 起止时间: 2010-09-01 至 2012-02-29
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=1030638&HistoricalAwards=false
• 关键词: Doctoral; Dissertation; Research; Sovereign; Wealth

Sovereign wealth funds (SWFs) have grown rapidly in recent years in both value and number. Despite a great deal of popular debate, very little scholarly attention has focused on the "strategic use" of SWFs by nations as tools to promote national development. Such usage is particularly significant in the context of globalization and financialization, which pose challenges to traditional industrial policy tools used by developing countries to improve their position in the international division of labor. This doctoral dissertation research project will undertake one of the first detailed empirical and theoretical examinations of strategic SWF investment. The doctoral candidate conducting this project will seek to answer the following three questions: (1) How and to what extent are states employing SWFs strategically to achieve national developmental objectives? (2) How are patterns of strategic SWF investment shaped by processes of negotiation and coalition formation involving multiple state and non-state actors based in different countries? (3) What are the policy and theoretical implications of strategic SWF investment for development? The student will conduct case studies of the strategic use of SWFs by Singapore, China, Abu Dhabi, and Dubai using a methodology of "network mapping" in order to analyze the extent and nature of strategic SWF investment originating from these states. In addition, semi-structured interviews will be conducted with a particular focus on the SWF-mediated relationship between Abu Dhabi and Germany. These interviews will facilitate development of a deeper understanding of the political and economic dynamics of strategic SWF investment and its implications for late development. Strategic SWF investment is hypothesized to be an adaptive response by states managing processes of "dependent development" in the context of contemporary globalization, entailing the convergence of emerging network or catalytic forms of statehood with private sector trends towards cross-border "alliance capitalism."Project results will contribute to a deeper understanding of the dynamics of strategic SWF investment as well as potentials and limitations inherent in strategic SWF investment as a developmental tool. This project thereby will improve general understanding of the diverse forms of institutional and policy adaptation that states in the developing world are undergoing in the context of globalization and the significance of these changes to their abilities to affect successful developmental outcomes. The project also will inform policy debates over which SWF investment strategies are appropriate from the standpoint of host economies. These debates have been associated with a great deal of apprehension in the western world, but have had limited substantive grounding. By helping to provide this grounding, this project will enable citizens and their representatives to make informed decisions regarding whether, and under what conditions, inward investment by foreign SWFs should be welcomed, opposed, or treated with indifference. As a Doctoral Dissertation Research Improvement award, this award also will provide support to enable a promising student to establish a strong independent research career.

近年来，主权财富基金（SWF）的价值和数量迅速增长。 尽管有很多流行的辩论，但很少有学术的关注集中在国家对SWF作为促进国家发展的工具上的“战略使用”。 在全球化和金融化的背景下，这种使用尤其重要，这对发展中国家使用的传统工业政策工具构成了挑战，以提高其在国际劳动分工中的地位。 该博士学位论文研究项目将进行战略SWF投资的第一个详细的经验和理论考试之一。 进行该项目的博士候选人将寻求回答以下三个问题：（1）国家如何以及在多大程度上采用SWF从战略上实现国家发展目标？ （2）如何通过涉及不同国家的多个州和非国家参与者的谈判和联盟形成的过程来塑造战略SWF投资的模式？ （3）战略SWF投资对发展的政策和理论含义是什么？ 该学生将使用“网络映射”的方法来对新加坡，中国，阿布扎比和迪拜进行战略使用SWF的案例研究，以分析来自这些州的战略性SWF投资的程度和性质。 此外，将进行半结构化访谈，以特别关注Abu Dhabi和德国之间的SWF介导的关系。 这些访谈将促进对战略SWF投资的政治和经济动态的更深入的理解及其对晚期发展的影响。 在当代全球化的背景下，国家管理“依赖发展”的流程，将战略SWF投资视为一种适应性的反应，这意味着新兴网络或催化状态形式的融合以及私营部门趋向跨境“联盟资本主义”的趋势。项目结果将有助于更深入地了解战略SWF投资的动态，以及作为发展工具的战略SWF投资固有的潜力和局限性。 因此，该项目将提高人们对发展中国家的机构和政策适应形式的一般理解，这些机构和政策适应在全球化的背景下正在经历，以及这些变化对影响成功发展成果的能力的重要性。 该项目还将为政策辩论提供有关哪些SWF投资策略从寄宿经济体的角度适当的辩论。 这些辩论与西方世界的忧虑相关，但实质性的基础有限。 通过帮助提供这一基础，该项目将使公民及其代表能够对是否以及在什么条件下以及在什么条件下，外国SWF进行内在投资做出明智的决定。 作为博士学位论文研究改进奖，该奖项还将提供支持，使有前途的学生能够建立强大的独立研究职业。