Sovereign Wealth Funds of States: Experience, Results and Prospects

This article analyzes the prerequisites for the emergence of sovereign wealth funds in order to identify the methods and mechanisms for their effective use at the present time, as well as for their preservation and increase in the long term. The novelty of the approach first of all comprises the use of the multivariate correlation and regression analysis method to study the factors, which influence the index under study; the selection of the most important fundamental factors, which affect the volumes of the sovereign funds of Russia; the development of improved methods and mechanisms for the effective use of the sovereign funds of Russia, including at the development of the formula for calculating a safe volume of the resources of the National Welfare Fund of Russia (NWF) with the purpose of investment in the development of the national economy without the threat of its overheating; the substantiation of forecast scenarios of effective utilization of the National Welfare Fund of Russia, depending on the influence of the main factors. The study is relevant because the proposed scientific approaches will allow managing most effectively the resources of the sovereign national wealth funds, ensuring the further development of the economies of countries and improvement of the well-being of citizens.