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date: 19 October 2019

Abstract and Keywords

This chapter examines the questions that sovereign wealth funds (SWFs) pose for analysts of foreign policy insofar as their operating preferences could be either geostrategic, and seek to advance the interests of the home state, or economic, and seek to maximize profits. To sort through the related issues, the chapter considers “home” and “host” country issues with respect to the democratic features attached to each. It thus offers insight into the strengths and weaknesses of various foreign policy arguments that have been offered in the existing literature. Next, the chapter offers observations on attempts to coordinate the behavior of SWFs at the international level, chiefly the Santiago Principles. It concludes with the relationship between pooled investment vehicles and state power in foreign affairs.

Keywords: sovereign wealth funds, foreign policy, home country issues, host country issues, pooled investment vehicles, CIC, China Investment Corporation, Norwegian Government Pension Fund, Temasek, Santiago Principles

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