dc.contributor.author | Wiśniewski, Piotr | |
dc.contributor.editor | Kamiński, Tomasz | |
dc.date.accessioned | 2017-02-13T11:50:15Z | |
dc.date.available | 2017-02-13T11:50:15Z | |
dc.date.issued | 2017 | |
dc.identifier.citation | P. Wiśniewski, The Competitiveness of Central and Eastern European (CEE) Financial Markets, [w:] T. Kamiński (ed.), Political Players? Sovereign Wealth Funds’ Investments in Central and Eastern Europe, Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2017, s. 45-60, doi:10.18778/8088-331-4.04. | pl_PL |
dc.identifier.isbn | 978-83-8088-331-4 | |
dc.identifier.uri | http://hdl.handle.net/11089/20538 | |
dc.description | Although there has been vivid academic debate as to what extent Sovereign Wealth Funds (SWFs) are motivated by political reasons, it is rather clear that countries can use state-owned investment funds as a tool of their foreign policy. Even Barack Obama, during his initial presidential campaign in 2008 commented: “I am obviously concerned if these… sovereign wealth funds are motivated by more than just market consideration and that’s obviously a possibility”.
This book looks at SWF activities in Central and Eastern Europe (CEE) to determine the main motives for SWF presence in CEE. Are the potential financial gains the only reason behind their investments? Are SWF activities in the region dangerous for the stability and security of the CEE countries?
The book is pioneering analyses of SWFs behaviour in the region, based on empirical data collected from the Sovereign Wealth Fund Institute Transaction Database, arguably the most comprehensive and authoritative resource tracking SWF investment behaviour globally. | pl_PL |
dc.description | Rozdział pochodzi z książki: Political Players? Sovereign Wealth Funds’ Investments in Central and Eastern Europe, T. Kamiński (ed.), Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2017. | |
dc.description.abstract | The research seeks to gauge the global competitiveness of Central and Eastern
European (CEE) financial markets. The assessment is made using quantitative
and hybrid metrics of financial centre development while placing particular
emphasis on competitiveness drivers relevant to the activity of global sovereign
wealth funds (SWFs) in the CEE region. | en |
dc.description.sponsorship | This book was published in frames of project “Political significance of the Sovereign Wealth
Funds’ investments in the Central and Eastern Europe”. The project was financed by the Polish
National Science Centre (Decision no. DEC-2012/07/B/HS5/03797). | pl_PL |
dc.language.iso | en | pl_PL |
dc.publisher | Wydawnictwo Uniwersytetu Łódzkiego | pl_PL |
dc.relation.ispartof | Political Players? Sovereign Wealth Funds’ Investments in Central and Eastern Europe, T. Kamiński (ed.), Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2017 | |
dc.rights | Uznanie autorstwa-Użycie niekomercyjne-Bez utworów zależnych 3.0 Polska | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/pl/ | * |
dc.subject | Central and Eastern
European (CEE) | en |
dc.subject | financial markets | en |
dc.subject | Warsaw Stock Exchange (WSE) | en |
dc.subject | CEE Stock Exchange Group (CEESEG) | en |
dc.subject | sovereign wealth funds (SWFs) | en |
dc.subject | financial centres | en |
dc.title | The Competitiveness of Central and Eastern European (CEE) Financial Markets | pl_PL |
dc.type | Book chapter | pl_PL |
dc.rights.holder | © Copyright by Piotr Wiśniewski, Łódź 2017, © Copyright for this edition by Uniwersytet Łódzki, Łódź 2017 | pl_PL |
dc.page.number | [45]-60 | pl_PL |
dc.contributor.authorAffiliation | Warsaw School of Economics | pl_PL |
dc.identifier.eisbn | 978-83-8088-332-1 | |
dc.references | Aït-Sahalia Y., Xiu D. (2015), Increased Correlation Among Asset Classes: Are Volatility or Jumps to Blame, or Both?, “Chicago Booth Research Paper”, no. 14–11; “Fama-Miller Working Paper”, Chicago, p. 1–34. | pl_PL |
dc.references | Bardalai A. et al. (2015), UK Fund Management – An Attractive Proposition for International Funds, “TheCityUK”, London, November, p. 20. | pl_PL |
dc.references | Bolton P. et al. (2012), Sovereign Wealth Funds and Long-Term Investing, Columbia University Press, p. 1–288. | pl_PL |
dc.references | Bourse Consult (2013), From Local to Global. Building a Modern Financial Centre, Special Interest Paper for the City of London Corporation, p. 1–19. | pl_PL |
dc.references | CAIA (2016), definition by Chartered Alternative Investment Analyst Association (CAIA) available online at: https://www.caia.org/ [accessed: 1.09.2015]. | pl_PL |
dc.references | CEESEG (2015), The Year 2014 at the (Central and Eastern European) CEE Stock Exchange Group, Wiener Börse, pp. 1–4. | pl_PL |
dc.references | Choueifaty Y., Coignard Y. (2008), Toward Maximum Diversification, “The Journal of Portfolio Management”, vol. 35(1), p. 40–51. | pl_PL |
dc.references | City of London (2013), From Local to Global. Building a Modern Financial Centre, Special Interest Paper for the City of London Corporation, p. 1–19. | pl_PL |
dc.references | Gál Z. (2015), Development of International Financial Centers in Central and Eastern Europe during Transition Period and Crisis. The Case of Budapest, “Regional and Local Studies”, no. 2(60), p. 53–80. | pl_PL |
dc.references | Giannetti M., Liao G. (2013), Brain Drain or Brain Gain? Evidence from Corporate Boards, VOX – CEPR’s policy portal available online at: http://voxeu.org/article/brain-drain-or-brain-gain-evidence-corporateboards [accessed: 1.09.2015]. | pl_PL |
dc.references | Investopedia (2016), definition available online at: http://www.investopedia. com/terms/a/alternativeassets.asp [accessed: 1.09.2015]. | pl_PL |
dc.references | Kern S. (2010), Global Financial Centres after the Crisis, Deutsche Bank Research, Financial Market Special, EU Monitor 76, Frankfurt am Main, p. 1–12. | pl_PL |
dc.references | Kurnyaeva Y. (2012), Flights-to-Safety: Evidence from Eastern European Countries, Tilburg University, Tilburg, p. 1–42. | pl_PL |
dc.references | Madden R., Wan Nursofiza W.A. (2015), Skill Gaps in the Financial Services Industry in Malaysia, Asian Institute of Finance, p. 1–44. | pl_PL |
dc.references | Michie J., Oughton C. (2015), Measuring Diversity in Financial Services Markets: A Diversity Index, Centre for Financial and Management Studies, Discussion Paper Series, Discussion Paper No. 113, p. 1–31. | pl_PL |
dc.references | MSCI (2016), Emerging Markets Europe Index methodology available online at: https://www.msci.com/resources/factsheets/index_fact_sheet/msciemerging- markets-europe-index-usd-net.pdf [accessed: 1.09.2015]. | pl_PL |
dc.references | Nystedt J. (2004), Derivative Market Competition: OTC Markets Versus Organized Derivative Exchanges, International Monetary Fund (IMF) IMF Working Paper, Policy Development and Review Department, WP/04/61, Washington, D.C., p. 1–47. | pl_PL |
dc.references | Odonnat I. (2008), The Conditions for a Positive Contribution of Sovereign Wealth Funds to the World Economy, Trésor Economics No. 28, Ministère de l’Économie, des Finances et de l’Emploi, Direction Générale du Trésor et de la Politique économique, Paris, p. 1–8. | pl_PL |
dc.references | Rose P. (2014), Sovereign Shareholder Activism: How SWFs Can Engage in Corporate Governance, Harvard Law School Forum on Corporate Governance and Financial Regulation, https://corpgov.law.harvard. edu/2014/08/07/sovereign-shareholder-activism-how-swfs-can-engage-incorporate- governance/ [accessed: 1.09.2015]. | pl_PL |
dc.references | Sarr A., Lybek T. (2002), Measuring Liquidity in Financial Markets, International Monetary Fund (IMF), IMF Working Paper No. 02/232, Washington, D.C., p. 1–63. | pl_PL |
dc.references | Securities Industry Association (2008), The Key Building Blocks of World Class Financial Centers, New York, p. 1–15. | pl_PL |
dc.references | Somers D. (2015), European Exchange Report, Federation of European Securities Exchanges (FESE) Economics and Statistics Committee (ESC), Brussels, Belgium, p. 1–27. | pl_PL |
dc.references | SWFI (2016), league tables of global SWFs, http://www.swfinstitute.org/ sovereign-wealth-fund-rankings/ [accessed: 1.09.2015]. | pl_PL |
dc.references | Walter I. (1998), The Globalization of Markets and Financial Center Competition, INSEAD, Fontainebleau, p. 1–35. | pl_PL |
dc.references | Wiśniewski P. (2015), Inteligentna beta (ang. smart beta) jako nowa strategia inwestycyjna państwowych funduszy majątkowych (ang. sovereign wealth funds) – Smart Beta as a New Investment Strategy by Sovereign Wealth Funds (SWFs), http://ssrn.com/abstract=2609694, p. 401–410 [accessed: 1.09.2015]. | pl_PL |
dc.references | World Economic Forum (2016), Global Competitiveness Indices – Methodology (The 12 Pillars of Competitiveness), http://reports.weforum.org/globalcompetitiveness- report-2014-2015/methodology/ [accessed: 1.09.2015]. | pl_PL |
dc.references | Z/Yen (2015), Global Financial Centres Index (GFCI), The Z/Yen Group/Long Finance and Qatar Financial Centre, Edition 17 (March 2015), p. 1–54. | pl_PL |
dc.identifier.doi | 10.18778/8088-331-4.04 | |