Paul Rose

This book provides a reference for policy makers who are creating or strengthening the operations of SIFs, particularly as governments examine the value of such funds as a policy instrument in the aftermath of the COVID-19 pandemic.

The Political and Governance Risks of Sovereign Wealth begins with a brief introductory history of the rise of sovereign wealth, from its early precursors in the United States to the large and more recently created funds of natural resource-rich countries. The introduction also provides a discussion of how sovereign wealth funds (SWFs) have been defined by both observers and the funds themselves and distinguishes SWFs from other important state-controlled enterprises, including state-owned enterprises (SOEs) and sovereign development funds (SDFs). The monograph then turns to the risks created by these funds. Section 2 reviews the domestic political risks associated with SWFs and how the domestic legitimacy of SWFs is tied to the substantive and procedural legitimacy in the creation and operation of the fund. Section 3 turns to the most publicized risk posed by SWFs: the potential that they could be politicized and used as mechanisms of mercantilism. This section also details how host countries have responded to acquisitions of domestic firms by foreign state-controlled enterprises by amending their procedures for reviewing acquisitions that pose potential threats to national security. Section 3 also distinguishes the investment behavior of SWFs from SOEs and discusses how the risks associated with SOE investment are typically of a greater magnitude than those posed by SWFs. Section 4 turns to domestic governance risks for SWFs and discusses the mechanisms that are designed to mitigate such risks. Section 5 examines SWFs' governance risks from an international perspective and how best practices like the Santiago Principles attempt to provide multilateral self-regulatory mechanisms.

Let Dorset Dives take you on a personal journey to 50 of the greatest dive sites the Dorset coastline has to offer. Here, there are so many opportunities to get wet and against one of the country's most beautiful backdrops - the Jurassic Coast. A UNESCO World Heritage site, the Dorset coast boasts seriously good scallop diving, sheltered, shallow or deep wrecks, scenic reef dives, easy shore dives and daring drifts. Will has chosen a selection of dive sites spanning the length of the Dorset coastline, all within a comfortable depth for the recreational diver and some of the sites featured will certainly require diving more than once. The wrecks are illustrated by Max Ellis, based on the original rough sketches John Liddiard made for DIVER magazine's `Wreck Tours' feature, with minimal coloured backgrounds added. With a Foreword by Paul Rose.