Dr Tim Vlandas, DSPI Associate Professor and Fellow at St Antony’s College, has launched a new book Foreign States in Domestic Markets: Sovereign Wealth Funds and the West. The book was co-authored with Mark Thatcher, Professor of Public Policy at LUISS University, Rome.
Dr Vlandas said: “This book examines policies towards SWFs, often based in Asia and the Middle East. Their number and size have greatly expanded, reaching $9 trillion by 2020. 'Foreign States in Domestic Markets' develops the concept of ‘internationalised statism’, where governments welcome the use of foreign state investments to govern their domestic economies. Although the US has imposed significant legal restrictions, the UK, France, and Germany have pursued internationalised statism in ways that are surprising given both popular and political economy classifications. The phenomenon of internationalised statism underlines that overseas state investment provides policy makers in recipient states with new allies and resources.”
The research for the book formed the basis of evidence Dr Vlandas gave as a witness in the inquiry into Inward Foreign Direct Investment organised by the International Trade Committee in 2021.
The book was launched at the European University Institute, Florence (March 2022), the ECPR standing group on the European Union, Rome (June 2022), the Council for European Studies (June 2022), the University of Oxford (October 2022) and the London School of Economics (October 2022).
Dr Vlandas’ main area of expertise is in comparative political economy, with a particular interest in the relationship between electoral politics, public policies and socio-economic outcomes. His research has been published in over 25 academic journals and he has received awards from the American Political Science Association and the European Network for Social Policy Analysis. His research has been cited by the UK House of Commons, World Bank, International Labour Organisation, Organisation for Economic Cooperation and Development, European Commission, and the United Nations.
Quotes on Foreign States in Domestic Markets: Sovereign Wealth Funds and the West
Quote by Professor Quaglia, Professor of Political Science, University of Bologna: “This book is a “must” for scholars of International Political Economy and Comparative Political Economy. It is impressive in terms of analytical rigor, breath of empirical coverage and importance of the findings and how they contribute to the existing literature.”
Source: Quaglia, L. (2022) Book review of ‘Foreign states in domestic markets: Sovereign wealth funds and the West. Thatcher, Mark and Vlandas, Tim, Oxford University Press, 2021.’ Regulation & Governance.
Quote by Professor Moravcsik, Professor of Politics and International Affairs, Princeton University: “The four case studies in this book offer basic data and succinct analysis of recent policies on this issue - which is sure to loom large as Western democracies ponder how to respond to the rising geoeconomic power of their global competitors.”
Source: Moravcsik, A. (2022) Book review of ‘Foreign States in Domestic Markets: Sovereign Wealth Funds and the West” By Mark Thatcher and Tim Vlandas Oxford University Press, USA, 2022.’ Foreign Affairs, November/December 2022.
Read more about the new book at Oxford University Press
