Richard Descoings, a reform-minded educator who heads the prestigious Sciences-Po, says in an interview that French universities are boxed into mediocrity by state control and state under-funding. Outside Britain, European universities need more control over their finances to compete in a globalized market.
Western countries need and largely welcome the fresh capital that can be injected by SWFs. But these funds are liable to arouse controversy, often because they are run by countries disliked in the West. Their tax-free status (as government-owned entities) may offer politicians a handle on these funds.
Topic:
Economics, Globalization, Government, and International Political Economy