Abstract
The chapter contains the author’s approach to researching the roles of specialized institutions established by governments of various countries in order to implement economy development projects (institutions and development funds) and solve issues of preserving financial stability in times of crisis (sovereign wealth funds). The rating of global competitiveness of countries drafted by the World Economic Forum was analyzed, which established that, despite different levels of institutional development in different countries, the largest sovereign funds function in countries ranking relatively low in this rating. The creation and research into the functioning of development institutions was conducted with Russia as an example. It has been proved that the need for development institutions arises upon the slowdown of growth caused by traditional economic structures and the increase in international competition, which (depending on the type in the devised classification) drives innovational activity, developing infrastructure, and investment in human resources. Modern approaches to the activity of sovereign wealth funds have been identified, including investment in high-tech companies and start-ups, and the allocation of income from special taxes.
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Kovalchuk, J. (2020). Development Institutions and Sovereign Wealth Fund as a Tool for Implementing Transformation Processes in the Economy. In: Kovalchuk, J. (eds) Post-Industrial Society. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-59739-9_2
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DOI: https://doi.org/10.1007/978-3-030-59739-9_2
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