The Fight Against Money Laundering (2004), and Inflation Targeting

Abstract

in the World Economy (2003). Authors ’ note: We thank Steve Weisman for very helpful comments on an earlier draft. This revision refl ects the 2011 replacement of Iran’s Oil Stabilization Fund with its National Development Fund as a member of the International Forum of Sovereign Wealth Funds. We have scored the latter as the successor of the former. © Peterson Institute for International Economics. All rights reserved. The term sovereign wealth fund (SWF) had not been coined a decade ago. By 2007, economists and the financial world were alternatively excited about or alarmed by the growing influence of these institutions, though in fact many of them had been around for decades. Politicians in countries in which the funds invested generally welcomed the additional financial resources from abroad while expressing concern about the motivations of investors and what they feared could be threat