2009
Copyright PERSEE 2003-2023. Works reproduced on the PERSEE website are protected by the general rules of the Code of Intellectual Property. For strictly private, scientific or teaching purposes excluding all commercial use, reproduction and communication to the public of this document is permitted on condition that its origin and copyright are clearly mentionned.
Jean-Paul Betbèze, « Sovereign Wealth Funds : a Solution to the Crisis ? », Revue d'économie financière, ID : 10.3406/ecofi.2009.5502
The sovereign wealth funds (SWFs) do find themselves at the crux of a new situation. They are in the process of playing a strategic role in a crisis that the developed countries, starting with the United States, created. And they are going to take advantage of it. This is how the great world imbalance took hold : on the one hand, the wealthy countries, led by the United States, were not saving, and on the other the so-called poor countries were financing them, while at the same time importing disinflation from them, fueling low long-term nominal rates. Within this context, it may be reasoned that the best answer to SWFs is that of European funds themselves. JEL Classification : F21, F30, G01, G29