Sovereign Wealth Funds as Autonomy-Maximizing Entities. A Comparative Analysis of Russia and Kazakhstan

Student: Groholt Eline marie

Faculty: Faculty of World Economy and International Affairs

Educational Programme: International Relations in Eurasia (Master)

Final Grade: 9

Year of Graduation: 2017

This dissertation analyses the role of the Sovereign Wealth Funds in Russia and Kazakhstan by investigating the interests of the funds’ sponsors, namely elites and the president. In this dissertation process tracing is used to study how the evolvement and use of the Russian and Kazakhstani Sovereign Wealth Funds, through guaranteed and targeted transfers, have supported autonomy-maximisation of their respective presidents. The cross-case comparison sheds light on five behaviours consistent with autonomy-maximising strategy: politicised domestic investments, dollar recycling, passive foreign direct investments, pacifying domestic citizenry and extraordinary outward investments.

Full text (added May 15, 2017)

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