Avoiding the curse by transparency and ethics? : a comparative study of the transparency and ethical principles of the sovereign wealth funds of Norw…

2014

Masteroppgave i økonomi og administrasjon – Universitetet i Agder 2014 The purpose of this thesis is to explore how transparency and ethics in sovereign wealth funds may contribute in avoiding the resource curse, and compare how the sovereign wealth funds of Norway (the Norwegian Government Pension Fund Global – NGPFG) and Kazakhstan (the National Fund of the Republic of Kazakhstan – NFRK, and Samruk-Kazyna) implement transparency and ethics in their practical operations. Researchers such as Kolstad and Wiig (2009) and Williams (2011) have connected the resource curse to transparency. Resource funds, or sovereign wealth funds, work as tools in combating certain aspects of the curse, and in …