Conceptualizing Afghanistan’s (Nonexistent) SWF

Ashby Monk

Back in June, I wrote about Afghanistan’s governance challenges stemming from its apparent mining wealth. And I argued that the country could benefit from having an SWF to help manage this looming bonanza. Why? Because, sadly, the world is littered with examples of countries where natural riches have lined pockets and destroyed lives rather than creating lasting prosperity. And, given that Afghanistan has enormous problems already, I felt that a well-designed and governed SWF would help prevent the resource curse from becoming one of them.

So, after reading my post, Managing Editor of Foreign Policy Blake Hounshell asked me to expand it for FP and, specifically, focus on how an Afghan SWF might be set up to ensure proper management of Afghanistan’s resource revenues. I agreed. And in the expanded article, I come up with six design principles that should underpin a new Afghan SWF (or, for that matter, any country with similar problems). Read it here.

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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