Reframing Finance: new models of long-term investment management

  • McArthur J
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Abstract

Since the 2008 financial crisis, beneficiary organizations--like pension funds, sovereign wealth funds, endowments, and foundations--have been seeking ways to mitigate the risk of their investments and make better financial decisions. For them, Reframing Finance offers a path forward. This book argues that institutional investors would better serve their long-term goals by putting money into large-scale, future-facing projects such as infrastructure, green energy, innovation in agriculture, and real estate development. At the same time, redirecting long-term investments would close significant financial gaps that government cannot. Drawing on key contributions in economic sociology, social network theory, and economics, the book conceptualizes a collaborative model of investment that is already becoming increasingly common: Large investors contribute more directly to private market assets, while financial intermediaries seek to foster co-investment partnerships, better aligning incentives for all. A combination of rich case studies and rigorous theory enables asset owners to move toward more efficient, private-market investing, while also laying groundwork for research at the frontier of finance.

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APA

McArthur, J. (2019). Reframing Finance: new models of long-term investment management. Journal of Economic Geography, 19(2), 535–537. https://doi.org/10.1093/jeg/lbz002

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