中东主权财富基金发展的原因、影响及其对策

The Rise of the Middle East Sovereign Wealth Funds:Causes,Consequences and Countermeasures

主权财富基金设立的基本目标是追求经济发展的稳定性和可持续性,中东地区是世界上最早设立主权财富基金的地区,属于典型的资源型主权财富基金,设立目标多为消除石油价格波动对本国财政及货币政策的潜在影响,平滑外汇收入。中东主权财富基金近年来发展迅猛,其对地区经济发展与宏观经济政策都有相应影响。但事实上,中东地区主权财富基金的运作未能与各国国内财政政策融合起来,没有发挥平滑国内经济波动的积极作用。因此,中东地区主权财富基金需要从投资配置、运作规则及目标匹配等方面进行相应改善,以期发挥更加重要的作用。

The basic purpose of sovereign wealth fund is pursuing a stable and sus- tainable economic development, the Middle East is the first region to set up sovereign wealth funds in the world, It is a resource-based sovereign wealth fund aiming to eliminate the potential impact of oil price fluctuations on the domestic fiscal and monetary policies, and balancing the foreign exchange earnings. The sovereign wealth funds in the Middle East developed rapidly in recent years and had impact on regional economic development and macroeconomic policy. But the sovereign wealth fund in the Middle East is not able to integrate with the domestic fiscal poli- cy and balance the domestic economic fluctuations. Therefore, in order to play a more important role, the sovereign wealth fund in the Middle East needs an im- provement in investment, rules and target.