Concretely, public assets take two forms. They can be nonfinancial (meaning essentially public buildings, used for government offices or for the provision of public services, primarily in health and education: schools, universities, hospitals, etc.) or financial. Governments can own shares in firms, in which they can have a majority or minority stake. These firms may be located within the nation’s borders or abroad. In recent years, for instance, so-called sovereign wealth funds have arisen to manage the substantial portfolios of foreign financial assets that some states have acquired. In
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