This paper presents statistical analysis supporting stylized facts about sovereign wealth funds (SWFs). It discusses the forces leading to the growth of SWFs, including the role of fuel exports and ongoing current account surpluses, and large hoarding of international reserves. It analyzes the...

This paper examines the functioning of some of India’s institutions of governance, namely, the legislative and executive branches of government, the judiciary, and the bureaucracy, from an instrumental, economic perspective. Governance is analyzed along three dimensions: (1) the degree of...

This paper presents a model comparing the optimal degree of asset class diversification abroadby a central bank and a sovereign wealth fund. We show that if the central bank manages itsforeign asset holdings in order to meet balance of payments needs, particularly in reducing theprobability of...

This paper examines the functioning of some of India’s institutions of governance, namely, the legislative and executive branches of government, the judiciary, and the bureaucracy, from an instrumental, economic perspective. Governance is analyzed along three dimensions: (1) the degree of...