SWFsEUROPE
About SWFsEUROPE
The number and size of sovereign wealth funds (SWFs) has grown substantially in the last decade, leading to an unsettled debate regarding their legitimacy in the global political economy, particularly as many originate from the Global South and from illiberal political economies (e.g. China).
Some suggest they represent the (re)emergence of state-led capitalism subject to geopolitical motivations that threaten free markets. For others, SWFs represent a source of long-term patient capital capable of mitigating market short-termism. Either way, SWFs challenge the norm, particularly in the Global North, that financial markets are spaces of exchange for non-state actors. By analyzing the behavior of SWFs, their interaction with different stakeholders at home and abroad, and how they are legitimized as financial actors in the global political economy, SWFsEUROPE will provide new critical insights into the contemporary relationship between the state and the market.
Recent news
New post at Developing Economics on strategic investment funds
Adam Dixon has published a blogpost based on his recent paper with Journal of Contemporary Asia at the Developing Economics State Capitalism blog series. The blog series is co-edited by SWFsEUROPE team member, Ilias Alami.
Contribution to Wilson Center Africa Program Year in Review
Adam Dixon contributed a short piece to the Wilson Center Africa Program's Year in Review. The piece discusses recent efforts at establishing a SWF in Mozambique. While there may be reasons to establish a SWF to manage natural resource revenues, most successful SWFs...
Blog post on Chinese state capital in Serbia
Imogen T. Liu has written a blog post on Chinese state capital in Serbia for the Developing Economics state capitalism series. Imogen argues that the penetration of Chinese state capital in Serbia, notably through infrastructure, contributes to the stabilisation of...
The Strategic Logics of State Investment Funds in Asia: Beyond Financialisation
Adam Dixon has just published a paper in the Journal of Contemporary Asia entitled, "The Strategic Logics of State Investment Funds in Asia: Beyond Financialisation". The paper analyzes strategic investment funds in Kazakhstan, Singapore, and Malaysia to understand...
Guest lecture @EUI Florence
On November 20th, Milan Babic gave a guest lecture at the Political Economy Working Group of the European University Institute Florence with the title “How does structural power operate? A framework for its working mechanisms”. For more information please see here.
Roundtable on the future of globalization @ St. Andrews
On October 14th, Milan Babic joined a roundtable with Taylor St John, Folashadé Soulé and Geoffrey Gertz on the topic “Will Globalization be different after Coronavirus?” at the Centre for Global Law and Governance, U. of St. Andrews. For more information, see...
Panel on IPE and Covid-19 @Uni Groningen
On October 2nd, Milan Babic joined a panel with the title ” The Covid-19 Pandemic: Continuity and Change in the International Political Economy”, where he discussed one of the contributions. More information:...
New commentary for openDemocracy
Ilias Alami and Adam Dixon have published a commentary entitled The clash of capitalisms? for openDemocracy as part of its 'Decolonising the Economy' series. The piece is based on a recently published article in the journal Political Geography.
Op-ed on Beijing’s National Security Law for Hong Kong
Imogen Liu has written an op-ed on China's new National Security Law for Hong Kong, published in the The Interpreter at the Lowy Institute. Imogen provides a geoeconomic, geopolitical and state capitalist reading of the new legislation, analysing its broader...
Presentation of Findings to the EC
On 30 June, Imogen Liu and Adam Dixon presented research findings from recent fieldwork to Beijing and Hong Kong on Chinese state capital to more than 70 staff of the European Commission. Dixon and Liu were invited by DG ECFIN, with representatives from several other...
Funders and partners
SWFsEUROPE is a five-year research project titled Legitimacy, Financialization, and Varieties of Capitalism: Understanding Sovereign Wealth Funds in Europe. The project is hosted at Maastricht University and a recipient of funding from the European Research Council.