A Feasibility Study of Setting Up a Non-commodity Sovereign Wealth Funds in Taiwan
Date Issued
2011
Date
2011
Author(s)
Hsu, Cheng-Wen
Abstract
In recent years, the rapidly growing number and size of Sovereign Wealth Funds (SWFs) reflect the foreign exchange assets that accrue mainly via revenues from commodity markets or intervention in the foreign exchange market. Budget surplus are also important in many cases. Asian tigers, Singapore, South Korea and Hong Kong have been set up SWFs, and China also set up the China Investment Corporation in 2007. The financial environment in Taiwan is similar to East Asian countries have been set up SWFs , so whether Taiwan should set up a sovereign wealth fund become a hot discussion topic. How to enhance long-term financial performance of Taiwan''s long-term social capital and foreign exchange through the establishment of SWFs has become an urgent subject of analysis.
In this study use comparative analysis and feasibility analysis of Taiwan''s economic environment with similar East Asian countries for the establishment of non-commodity SWFs status. Then, set up SWFs on the Taiwan sources of funding, management, organizational structure, investment strategy and SWOT analysis to conduct a feasibility analysis and recommendations.
Comprehensive analysis of each chapter can be summarized in this study SWFs in global capital markets has become an important role. The financial crisis has highlighted the importance of SWFs. Setting up SWFs in Taiwan has many policy benefits and the SWFs does not affect the operation of Central Bank and public funds. Finally, this study suggests that taking a gradual approach for the establishment of Taiwan''s SWFs. Setting up a government investment corporation issue diversified bonds to raise funds, to make strategic investments and investment in public construction.
Subjects
Long-term Funds
Foreign Exchange Reserves
Public Pension
Life Insurance Funds
Government Bonds Issuance
Type
thesis
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ntu-100-P97323007-1.pdf
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