28 TOPICAL THEME

Kompetentnost' 5/116/2014

ISSN 1993-8780

Economic and Legal Regulation of Sovereign

Wealth Funds

Dr. M.V. Danilina, Associate Professor, Department of Risk analysis and economic safety, Financial University, Federal State-Funded Educational Institution of Higher Professional Education Financial University under the Government of the Russian Federation, Moscow, Russia, marinadanilina@yandex.ru

Dr. S.Yu. Eroshkin, Leading Researcher, Associate Professor, Financial University, Federal State-Funded Educational Institution of Higher Professional Education Financial University under the Government of the Russian Federation, Moscow, Russia, erosserg@mail.ru

key words

sovereign wealth funds, state economic security, long-term investing, investment risks, legal regulation

Referenсes

In the article the authors discuss the main aspects of sovereign funds in the framework of  the  state  economic  security.  They  analyze  the  legislative  framework  governing the functioning of public investment funds in Russia. Statistical data describing levels of  investment,  the  number  and  geographical  distribution  of  public  funds  in  the  world is  provided.  The  results  of  the  analysis  show  that,  despite  of  some  changes  in  recent years,  the  Reserve  Fund  and  National  Welfare  Fund  of  the  Russian  Federation  is still  in  need  of  significant  improvement  in  their  economic  and  legal  aspects.  The  idea of the legislative initiative of the RF State Duma deputies on the establishment of JSC Rosfinagentstvo  in  trust  funds  of  which  is  proposed  to  transfer  these  funds,  as  well as the public debt of the Russian Federation is given.

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2. Sakharov А.А. Suverennye fondy blagosostoyaniya. Opyt Rossii [Sovereign Wealth Funds. The Experience of Russia], Reglamentatsiya bankovskikh operatsiy. Dokumenty i kommentarii, 12.11.08, URL: http://www.reglament.net/ bank/reglament/ (date: 29.07.2012).

3. Institut suverennykh fondov blagosostoyaniya [Sovereign Wealth Funds (SWF) Institute]. URL: http://www.swfinstitute.org/fund-rankings

(date: 29.07.2012).

4. Ekonomisty predrekayut novuyu formu kapitalizma, porozhdennuyu krizisom [Economists predict new form of capitalism, caused by crisis], URL: http://news.mail.ru/society/4578956/ (date: 29.07.2012).

5. Sovokupnyy ob”em sredstv fonda [The total volume of funds of the Fund], Ministerstvo finansov, http://www.minfin.ru/ru/

nationalwealthfund/statistics/volume/, document: 04.02.2014; publication: 04.02.2014; variation: 04.02.2014.

6. Lebedev. 4,6 trilliona rubley rezervnykh fondov Rossii otdadut nekoemu ОАО [4.6 trillion rubles from the Reserve Fund of Russia will give some JSC], 24.01.2013, 18:29, http://tularus.org/index.php/stati/733-stat-24-01-13 (date: 24.02.2014).

7. Rosfinagentstvo: upravlyay i vlastvuy [Russia Financial Agency: manage and conquer], http://www.rbcdaily.ru/economy/opinion/

562949985698464 (date: 24.02.2014).

8. Vnesen zakonoproekt o zaprete razmeshcheniya rezervnogo fonda i Fonda natsional’noy bezopasnosti v inostrannykh aktivakh

[The bill of an accommodation interdiction of Reserve Fund and Fund of National Safety in foreign actives is brought], http://www.rbc.ru/

rbcfreenews/ 20131223230838.shtml (date: 01.03.2014