Periodic Reporting for period 3 - SWFsEUROPE (Legitimacy, Financialization, and Varieties of Capitalism: Understanding Sovereign Wealth Funds in Europe)
Période du rapport: 2021-01-01 au 2022-06-30
The project is divided into three overlapping sub-projects: the first investigates how SWFs become legitimate actors in global markets; the second seeks to explain the variegated pattern of foreign state investment in Europe; the third explores why some European countries have established SWFs of their own. The research carried out thus far has been focused on the first sub-project, as this provides an important theoretical and empirical basis for the second sub-projects.
Researchers from the team have conducted field work in several locations, including Russia and China, and attended major international forums focused on SWFs. Work conducted on the China Investment Corporation, the country’s premier SWF, has demonstrated how global financial professionals facilitate and legitimate the integration of Chinese state capital in global markets. This work also unpacked the differential approaches to Chinese foreign investment, showing the key differences between investment through the SWF or state-owned enterprises. This is crucial for avoiding a monolithic view of Chinese foreign investment when researching Chinese state capital in receiving countries in the second subproject.