Promoting responsible sovereign lending and borrowing: the role of sovereign wealth funds
Purpose This paper aims to investigate the idea of building responsible borrowing and lending into sovereign wealth fund (SWF) decision-making. SWFs, which currently manage US$8 trillion in assets, are influential institutional investors, but their role in sovereign debt markets needs to be further...
Gespeichert in:
| Veröffentlicht in: | Journal of financial regulation and compliance 2019-11, Vol.27 (4), p.443-452 |
|---|---|
| 1. Verfasser: | |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 452 |
|---|---|
| container_issue | 4 |
| container_start_page | 443 |
| container_title | Journal of financial regulation and compliance |
| container_volume | 27 |
| creator | Pavlidis, Georgios |
| description | Purpose
This paper aims to investigate the idea of building responsible borrowing and lending into sovereign wealth fund (SWF) decision-making. SWFs, which currently manage US$8 trillion in assets, are influential institutional investors, but their role in sovereign debt markets needs to be further explored. In this context, this paper aims to critically assess the linkages and convergences between the Santiago Principles on SWF and the United Nations Conference on Trade and Development (UNCTAD) principles on responsible sovereign lending and borrowing.
Design/methodology/approach
This paper draws on legal scholarship, reports, policy papers and other open-source data to explore the role of SWFs in sovereign lending, borrowing and debt restructuring.
Findings
Building responsible borrowing and lending into SWF decision-making is feasible and justified on the grounds of both ethics and public duty. It is also justified in financial terms because it would protect SWFs from irresponsible lending and borrowing practices at the micro level while contributing to global financial stability at the macro level.
Originality/value
This is the first comprehensive study to juxtapose two important normative processes, the Santiago Principles and the UNCTAD Principles. |
| doi_str_mv | 10.1108/JFRC-11-2018-0151 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_journals_2311045606</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2311045606</sourcerecordid><originalsourceid>FETCH-LOGICAL-c314t-a57ba229cb0bdf8cf43ebe09151cbb11c90ea4a991d70fef099b2bba1beaf9823</originalsourceid><addsrcrecordid>eNptkE1LAzEQhoMoWKs_wFvAc3RmP7obb1KsHxQU0YOnkOxO2i3bTU22Fv-9WepBwdO8w7zvDPMwdo5wiQjl1ePsZSoQRQJYCsAcD9gIiwwEJIU8jDrNS4GyLI_ZSQgrAJzkhRyx92fv1q5vugX3FDauC41piQf3SZ6aRcdb6uphqruaG-e928XumvdL4t5Fp7O_zDvSbb_kdtvV4ZQdWd0GOvupY_Y2u32d3ov5093D9GYuqhSzXui8MDpJZGXA1LasbJaSIZDxhcoYxEoC6UxLiXUBlixIaRJjNBrSVpZJOmYX-70b7z62FHq1clvfxZMqSSObLJ_AJLpw76q8C8GTVRvfrLX_UghqIKgGglGpgaAaCMYM7DO0Jq_b-t_IH-jpN6nqdFo</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2311045606</pqid></control><display><type>article</type><title>Promoting responsible sovereign lending and borrowing: the role of sovereign wealth funds</title><source>Emerald Journals</source><creator>Pavlidis, Georgios</creator><creatorcontrib>Pavlidis, Georgios</creatorcontrib><description>Purpose
This paper aims to investigate the idea of building responsible borrowing and lending into sovereign wealth fund (SWF) decision-making. SWFs, which currently manage US$8 trillion in assets, are influential institutional investors, but their role in sovereign debt markets needs to be further explored. In this context, this paper aims to critically assess the linkages and convergences between the Santiago Principles on SWF and the United Nations Conference on Trade and Development (UNCTAD) principles on responsible sovereign lending and borrowing.
Design/methodology/approach
This paper draws on legal scholarship, reports, policy papers and other open-source data to explore the role of SWFs in sovereign lending, borrowing and debt restructuring.
Findings
Building responsible borrowing and lending into SWF decision-making is feasible and justified on the grounds of both ethics and public duty. It is also justified in financial terms because it would protect SWFs from irresponsible lending and borrowing practices at the micro level while contributing to global financial stability at the macro level.
Originality/value
This is the first comprehensive study to juxtapose two important normative processes, the Santiago Principles and the UNCTAD Principles.</description><identifier>ISSN: 1358-1988</identifier><identifier>EISSN: 1740-0279</identifier><identifier>DOI: 10.1108/JFRC-11-2018-0151</identifier><language>eng</language><publisher>London: Emerald Publishing Limited</publisher><subject>Accountability ; Borrowing ; Commodities ; Debt financing ; Debt restructuring ; Emerging markets ; Government bonds ; Hedge funds ; Institutional investments ; International finance ; Investors ; Portfolio management ; Principles ; Regulation of financial institutions ; Sovereign debt ; Sovereign wealth funds ; Transparency ; Working groups</subject><ispartof>Journal of financial regulation and compliance, 2019-11, Vol.27 (4), p.443-452</ispartof><rights>Emerald Publishing Limited</rights><rights>Emerald Publishing Limited 2019</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c314t-a57ba229cb0bdf8cf43ebe09151cbb11c90ea4a991d70fef099b2bba1beaf9823</citedby><cites>FETCH-LOGICAL-c314t-a57ba229cb0bdf8cf43ebe09151cbb11c90ea4a991d70fef099b2bba1beaf9823</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.emerald.com/insight/content/doi/10.1108/JFRC-11-2018-0151/full/html$$EHTML$$P50$$Gemerald$$H</linktohtml><link.rule.ids>315,782,786,969,11642,27931,27932,52696</link.rule.ids></links><search><creatorcontrib>Pavlidis, Georgios</creatorcontrib><title>Promoting responsible sovereign lending and borrowing: the role of sovereign wealth funds</title><title>Journal of financial regulation and compliance</title><description>Purpose
This paper aims to investigate the idea of building responsible borrowing and lending into sovereign wealth fund (SWF) decision-making. SWFs, which currently manage US$8 trillion in assets, are influential institutional investors, but their role in sovereign debt markets needs to be further explored. In this context, this paper aims to critically assess the linkages and convergences between the Santiago Principles on SWF and the United Nations Conference on Trade and Development (UNCTAD) principles on responsible sovereign lending and borrowing.
Design/methodology/approach
This paper draws on legal scholarship, reports, policy papers and other open-source data to explore the role of SWFs in sovereign lending, borrowing and debt restructuring.
Findings
Building responsible borrowing and lending into SWF decision-making is feasible and justified on the grounds of both ethics and public duty. It is also justified in financial terms because it would protect SWFs from irresponsible lending and borrowing practices at the micro level while contributing to global financial stability at the macro level.
Originality/value
This is the first comprehensive study to juxtapose two important normative processes, the Santiago Principles and the UNCTAD Principles.</description><subject>Accountability</subject><subject>Borrowing</subject><subject>Commodities</subject><subject>Debt financing</subject><subject>Debt restructuring</subject><subject>Emerging markets</subject><subject>Government bonds</subject><subject>Hedge funds</subject><subject>Institutional investments</subject><subject>International finance</subject><subject>Investors</subject><subject>Portfolio management</subject><subject>Principles</subject><subject>Regulation of financial institutions</subject><subject>Sovereign debt</subject><subject>Sovereign wealth funds</subject><subject>Transparency</subject><subject>Working groups</subject><issn>1358-1988</issn><issn>1740-0279</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2019</creationdate><recordtype>article</recordtype><sourceid>AFKRA</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><recordid>eNptkE1LAzEQhoMoWKs_wFvAc3RmP7obb1KsHxQU0YOnkOxO2i3bTU22Fv-9WepBwdO8w7zvDPMwdo5wiQjl1ePsZSoQRQJYCsAcD9gIiwwEJIU8jDrNS4GyLI_ZSQgrAJzkhRyx92fv1q5vugX3FDauC41piQf3SZ6aRcdb6uphqruaG-e928XumvdL4t5Fp7O_zDvSbb_kdtvV4ZQdWd0GOvupY_Y2u32d3ov5093D9GYuqhSzXui8MDpJZGXA1LasbJaSIZDxhcoYxEoC6UxLiXUBlixIaRJjNBrSVpZJOmYX-70b7z62FHq1clvfxZMqSSObLJ_AJLpw76q8C8GTVRvfrLX_UghqIKgGglGpgaAaCMYM7DO0Jq_b-t_IH-jpN6nqdFo</recordid><startdate>20191101</startdate><enddate>20191101</enddate><creator>Pavlidis, Georgios</creator><general>Emerald Publishing Limited</general><general>Emerald Group Publishing Limited</general><scope>AAYXX</scope><scope>CITATION</scope><scope>0U~</scope><scope>1-H</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>8AO</scope><scope>8FI</scope><scope>AFKRA</scope><scope>ANIOZ</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FYUFA</scope><scope>F~G</scope><scope>K6~</scope><scope>L.-</scope><scope>L.0</scope><scope>M0C</scope><scope>M0T</scope><scope>M1F</scope><scope>PQBIZ</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope></search><sort><creationdate>20191101</creationdate><title>Promoting responsible sovereign lending and borrowing: the role of sovereign wealth funds</title><author>Pavlidis, Georgios</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c314t-a57ba229cb0bdf8cf43ebe09151cbb11c90ea4a991d70fef099b2bba1beaf9823</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2019</creationdate><topic>Accountability</topic><topic>Borrowing</topic><topic>Commodities</topic><topic>Debt financing</topic><topic>Debt restructuring</topic><topic>Emerging markets</topic><topic>Government bonds</topic><topic>Hedge funds</topic><topic>Institutional investments</topic><topic>International finance</topic><topic>Investors</topic><topic>Portfolio management</topic><topic>Principles</topic><topic>Regulation of financial institutions</topic><topic>Sovereign debt</topic><topic>Sovereign wealth funds</topic><topic>Transparency</topic><topic>Working groups</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Pavlidis, Georgios</creatorcontrib><collection>CrossRef</collection><collection>Global News & ABI/Inform Professional</collection><collection>Trade PRO</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ProQuest Pharma Collection</collection><collection>Hospital Premium Collection</collection><collection>ProQuest Central UK/Ireland</collection><collection>Accounting, Tax & Banking Collection</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>Health Research Premium Collection</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Professional Standard</collection><collection>ABI/INFORM Global</collection><collection>Healthcare Administration Database</collection><collection>Banking Information Database</collection><collection>ProQuest One Business</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central Basic</collection><jtitle>Journal of financial regulation and compliance</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Pavlidis, Georgios</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Promoting responsible sovereign lending and borrowing: the role of sovereign wealth funds</atitle><jtitle>Journal of financial regulation and compliance</jtitle><date>2019-11-01</date><risdate>2019</risdate><volume>27</volume><issue>4</issue><spage>443</spage><epage>452</epage><pages>443-452</pages><issn>1358-1988</issn><eissn>1740-0279</eissn><abstract>Purpose
This paper aims to investigate the idea of building responsible borrowing and lending into sovereign wealth fund (SWF) decision-making. SWFs, which currently manage US$8 trillion in assets, are influential institutional investors, but their role in sovereign debt markets needs to be further explored. In this context, this paper aims to critically assess the linkages and convergences between the Santiago Principles on SWF and the United Nations Conference on Trade and Development (UNCTAD) principles on responsible sovereign lending and borrowing.
Design/methodology/approach
This paper draws on legal scholarship, reports, policy papers and other open-source data to explore the role of SWFs in sovereign lending, borrowing and debt restructuring.
Findings
Building responsible borrowing and lending into SWF decision-making is feasible and justified on the grounds of both ethics and public duty. It is also justified in financial terms because it would protect SWFs from irresponsible lending and borrowing practices at the micro level while contributing to global financial stability at the macro level.
Originality/value
This is the first comprehensive study to juxtapose two important normative processes, the Santiago Principles and the UNCTAD Principles.</abstract><cop>London</cop><pub>Emerald Publishing Limited</pub><doi>10.1108/JFRC-11-2018-0151</doi><tpages>10</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 1358-1988 |
| ispartof | Journal of financial regulation and compliance, 2019-11, Vol.27 (4), p.443-452 |
| issn | 1358-1988 1740-0279 |
| language | eng |
| recordid | cdi_proquest_journals_2311045606 |
| source | Emerald Journals |
| subjects | Accountability Borrowing Commodities Debt financing Debt restructuring Emerging markets Government bonds Hedge funds Institutional investments International finance Investors Portfolio management Principles Regulation of financial institutions Sovereign debt Sovereign wealth funds Transparency Working groups |
| title | Promoting responsible sovereign lending and borrowing: the role of sovereign wealth funds |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-04T23%3A16%3A41IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Promoting%20responsible%20sovereign%20lending%20and%20borrowing:%20the%20role%20of%20sovereign%20wealth%20funds&rft.jtitle=Journal%20of%20financial%20regulation%20and%20compliance&rft.au=Pavlidis,%20Georgios&rft.date=2019-11-01&rft.volume=27&rft.issue=4&rft.spage=443&rft.epage=452&rft.pages=443-452&rft.issn=1358-1988&rft.eissn=1740-0279&rft_id=info:doi/10.1108/JFRC-11-2018-0151&rft_dat=%3Cproquest_cross%3E2311045606%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=2311045606&rft_id=info:pmid/&rfr_iscdi=true |