Business, Management and Accounting
4 years ago

Global Financial System Faces Transformation with Rise of Sovereign Wealth Funds

Journal of International Economic Law
The 'Santiago Principles' and the International Forum of Sovereign Wealth Funds: Evolving Components of the New Bretton Woods II Post-Global Financial Crisis Architecture and Another Example of Ad Hoc Global Administrative Networking and Related 'Soft' Rulemaking?
Joseph J. Norton

Paper Summary

The article discusses the establishment of Sovereign Wealth Funds (SWFs) and the concerns and interests they have sparked in the international financial markets. It critiques the processes surrounding the creation of the International Working Group of SWFs and the International Forum of SWFs to improve their legitimacy, transparency, and accountability. The main goal is to explore how these processes can adapt to the changing financial system under the guidance of G7 and G20 Finance Ministers and Leaders.

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