Patrick Schena

Patrick SchenaPatrick Schena is Adjunct Assistant Professor of International Business Relations at the Fletcher School, Tufts University and Co-Head of SovereigNet, The Fletcher Network for Sovereign Wealth and Global Capital. He is also a Senior Fellow of the Fletcher’s Council on Emerging Market Enterprises and an Associate-in-Research at the Fairbank Center for Chinese Studies, Harvard University.

Papers Published in World Economics:

Sovereign Wealth Fund Investment in Economic Transformation: Toward an Institutional Framework

The prospect of prolonged lower hydrocarbon and commodity prices has forced many countries to reconsider both fiscal policy and sovereign wealth fund asset allocation to address possible liquidity needs. In order to analyze the diversity and effectiveness of public investment vehicles it is necessary to recognize that a sovereign wealth fund is a genre of state investment. As a type of state investor sovereign wealth funds sit within an institutional continuum that includes many other bodies, such as national development banks. Well-functioning operating and governance models have evolved among large-scale private equity investors and components of these are suited to government application.

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