Khalid Alsweilem is a nonresident fellow at the Belfer Center for Science and International Affairs at the Harvard Kennedy School. He is also global sovereign wealth funds advisor for PwC and the former chief counselor and head of investment at the Saudi Arabian Monetary Agency. Malan Rietveld is a fellow at the Columbia Center on Sustainable Investment at Columbia University and was previously a fellow at the Center for International Development at the Harvard Kennedy School. He is the editor of several books on sovereign wealth funds, including The New Frontiers of Sovereign Investment (Columbia, 2017, with Perrine Toledano). He has advised several sovereign wealth funds on governance, management, and strategic issues.

In linking the theoretical and practical issues regarding sovereign wealth funds, the authors provide insight and knowledge few others can match. This is a readable and ambitious book-a manifesto for how to think about sovereign wealth funds in the twenty-first century. -- Gordon L. Clark, University of Oxford

• Acknowledgments List of Tables and Figures Introduction Part I. An Institutional Perspective on Resource Economies and the Role of Sovereign Wealth Funds 1. The Most Disadvantageous Lottery in the World: Historic Controversies Around Natural Resources and Economic Prosperity 2. Getting to Denmark: Institutional and Political Problems of Resource-Dependent Economies 3. Guardians of the Future Against the Claims of the Present: Sovereign Wealth Funds as an Institutional Response to the Resource Curse 4. To Be Boring: Institutional Lessons from the Modern Monetary Consensus for Sovereign Wealth Funds Part II. Rule-Based Fiscal Policies for Sovereign Wealth Funds 5. It's (Still) Mostly Fiscal: Simple Fiscal Rules for Accumulating Windfall Resource Revenues in a Sovereign Wealth Fund 6. Integrated Fiscal Rules for Sovereign Wealth Funds: Spending, Saving, and Stabilizing Resource Revenues 7. Governing the Fiscal Rule: The Design and Institutional Infrastructure of Fiscal Rules for Resource Revenues Part III. The Governance of Operationally Independent Sovereign Investment Institutions 8. Public Footprints in Private Markets: Institutional Arrangements in Delegated Sovereign Investment Management 9. Shadows and Siren Calls: Rules and Contracts in Delegated Sovereign Wealth Fund Management 10. Summary Notes References Index

Khalid Alsweilem is a nonresident fellow at the Belfer Center for Science and International Affairs at the Harvard Kennedy School. He is also global sovereign wealth funds advisor for PwC and the former chief counselor and head of investment at the Saudi Arabian Monetary Agency. Malan Rietveld is a fellow at the Columbia Center on Sustainable Investment at Columbia University and was previously a fellow at the Center for International Development at the Harvard Kennedy School. He is the editor of several books on sovereign wealth funds, including The New Frontiers of Sovereign Investment (Columbia, 2017, with Perrine Toledano). He has advised several sovereign wealth funds on governance, management, and strategic issues.

In linking the theoretical and practical issues regarding sovereign wealth funds, the authors provide insight and knowledge few others can match. This is a readable and ambitious book-a manifesto for how to think about sovereign wealth funds in the twenty-first century. -- Gordon L. Clark, University of Oxford

• Acknowledgments List of Tables and Figures Introduction Part I. An Institutional Perspective on Resource Economies and the Role of Sovereign Wealth Funds 1. The Most Disadvantageous Lottery in the World: Historic Controversies Around Natural Resources and Economic Prosperity 2. Getting to Denmark: Institutional and Political Problems of Resource-Dependent Economies 3. Guardians of the Future Against the Claims of the Present: Sovereign Wealth Funds as an Institutional Response to the Resource Curse 4. To Be Boring: Institutional Lessons from the Modern Monetary Consensus for Sovereign Wealth Funds Part II. Rule-Based Fiscal Policies for Sovereign Wealth Funds 5. It's (Still) Mostly Fiscal: Simple Fiscal Rules for Accumulating Windfall Resource Revenues in a Sovereign Wealth Fund 6. Integrated Fiscal Rules for Sovereign Wealth Funds: Spending, Saving, and Stabilizing Resource Revenues 7. Governing the Fiscal Rule: The Design and Institutional Infrastructure of Fiscal Rules for Resource Revenues Part III. The Governance of Operationally Independent Sovereign Investment Institutions 8. Public Footprints in Private Markets: Institutional Arrangements in Delegated Sovereign Investment Management 9. Shadows and Siren Calls: Rules and Contracts in Delegated Sovereign Wealth Fund Management 10. Summary Notes References Index

Khalid Alsweilem is a nonresident fellow at the Belfer Center for Science and International Affairs at the Harvard Kennedy School. He is also global sovereign wealth funds advisor for PwC and the former chief counselor and head of investment at the Saudi Arabian Monetary Agency. Malan Rietveld is a fellow at the Columbia Center on Sustainable Investment at Columbia University and was previously a fellow at the Center for International Development at the Harvard Kennedy School. He is the editor of several books on sovereign wealth funds, including The New Frontiers of Sovereign Investment (Columbia, 2017, with Perrine Toledano). He has advised several sovereign wealth funds on governance, management, and strategic issues.

In linking the theoretical and practical issues regarding sovereign wealth funds, the authors provide insight and knowledge few others can match. This is a readable and ambitious book-a manifesto for how to think about sovereign wealth funds in the twenty-first century. -- Gordon L. Clark, University of Oxford

• Acknowledgments List of Tables and Figures Introduction Part I. An Institutional Perspective on Resource Economies and the Role of Sovereign Wealth Funds 1. The Most Disadvantageous Lottery in the World: Historic Controversies Around Natural Resources and Economic Prosperity 2. Getting to Denmark: Institutional and Political Problems of Resource-Dependent Economies 3. Guardians of the Future Against the Claims of the Present: Sovereign Wealth Funds as an Institutional Response to the Resource Curse 4. To Be Boring: Institutional Lessons from the Modern Monetary Consensus for Sovereign Wealth Funds Part II. Rule-Based Fiscal Policies for Sovereign Wealth Funds 5. It's (Still) Mostly Fiscal: Simple Fiscal Rules for Accumulating Windfall Resource Revenues in a Sovereign Wealth Fund 6. Integrated Fiscal Rules for Sovereign Wealth Funds: Spending, Saving, and Stabilizing Resource Revenues 7. Governing the Fiscal Rule: The Design and Institutional Infrastructure of Fiscal Rules for Resource Revenues Part III. The Governance of Operationally Independent Sovereign Investment Institutions 8. Public Footprints in Private Markets: Institutional Arrangements in Delegated Sovereign Investment Management 9. Shadows and Siren Calls: Rules and Contracts in Delegated Sovereign Wealth Fund Management 10. Summary Notes References Index