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Sovereign Wealth Funds and Islamic Finance

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  • Renaud Bouchard

Abstract

[eng] Sovereign wealth funds (SWFs) and Islamic finance have become an increasingly popular subject in recent years. SWFs are state-run investment funds that most governments use to carry our purchases of foreign assets. A fundamental shift in global finance and investment power from West to East, in particular to the Middle East and other Asian countries, has thrown the SWFs and their links with Islamic finance into full glare of the world spotlight amid surge of GCC SWFs, successfully bridging the gap left by investment banks as the global crisis deepened from concerns over liquidity to solvency and to outright bank failure. We offer two tracks : Islamic finance as a new paradigm on the one hand, and as a transitional system of economic action, on the second hand. . JEL Classification : F30, G29

Suggested Citation

  • Renaud Bouchard, 2009. "Sovereign Wealth Funds and Islamic Finance," Revue d'Économie Financière, Programme National Persée, vol. 9(1), pages 233-239.
    • Handle: RePEc:prs:recofi:ecofi_1767-4603_2009_hos_9_1_5510
    DOI: 10.3406/ecofi.2009.5510
    Note: DOI:10.3406/ecofi.2009.5510
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    1. Shamim Ahmad Siddiqui, 2008. "An Evaluation of Research on Monetary Policy and Stability of the Islamic Economic system تقييم الأبحاث المتعلقة بالسياسة والاستقرار المالي لنظام الاقتصاد الإسلامي," Papers and books based on the proceedings of the Conferences organized by the Islamic Economics Institute, KAAU. 51, King Abdulaziz University, Islamic Economics Institute..
    2. Roland Beck & Michael Fidora, 2008. "The impact of sovereign wealth funds on global financial markets," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 43(6), pages 349-358, November.
    3. Javier Santiso, 2008. "Sovereign Development Funds," OECD Development Centre Policy Insights 58, OECD Publishing.
    4. Roland Beck & Michael Fidora, 2008. "The impact of sovereign wealth funds on global financial markets," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 43(6), pages 349-358, November.
    5. Kuran, Timur, 2005. "The logic of financial westernization in the Middle East," Journal of Economic Behavior & Organization, Elsevier, vol. 56(4), pages 593-615, April.
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    More about this item

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other

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