2010/01/22 by Mehmet Caner, Thomas Grennes · 1 citation
Business, Management and Accounting · Economics, Econometrics and Finance · #State Capitalism and Financial Governance #Natural Resources and Economic Development #Private Equity and Venture Capital
paper · doi:10.1111/j.1467-9701.2009.01235.x
openalex publication_date 2010/01/22 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/15
Sovereign wealth funds have rapidly become significant international institutions. The performance of funds varies substantially across countries, but comprehensive and systematic analyses of funds have been hampered by the lack of transparency of most funds. The relative transparency of the Norway Fund allows us to do an econometric analysis of the Fund’s performance. The record resembles that of a mutual fund that has taken on greater risk over time. There is no evidence that the Fund has disrupted foreign financial markets more than mutual funds do. There remains a question as to whether the Fund and its Finance Ministry have been effective agents for the Norwegian citizens whose assets they are managing.