Definitional Challenges of Dealing with Sovereign Wealth Funds

2010 ◽  
Vol 1 (2) ◽  
pp. 249-265 ◽  
Author(s):  
Andrew ROZANOV
Keyword(s):  
Best Practices ◽  
International Monetary Fund ◽  
Self Regulation ◽  
G7 Countries ◽  
Sovereign Wealth Funds ◽  
International Policy ◽  
Policy Makers ◽  
National Legislation ◽  
Legal Norms ◽  
The International Monetary Fund

International policy-makers so far have successfully pre-empted any new major national legislation in the G7 countries aimed specifically at sovereign wealth funds by getting the International Monetary Fund to work with them on formulating a set of best practices commonly known as the Santiago Principles. However, some observers stress that this is just the beginning. How does one measure and evaluate compliance with these principles? Is voluntary self-regulation really sufficient? Or is there a need for new rules and regulations? As the discussion shifts from policy and economics to governance and regulation, we move firmly into the realm of law—legal norms, rules, and statutes. However, the required clarity and commonality of definitions and terms have been elusive. There does not seem to be universal agreement about the precise meanings of even the most fundamental terms in the SWF debate. This article hence focuses on the definitional challenges inherent in this debate.

scholarly journals Transparency Is A Key Indicator Of The Activity Of Sovereign Wealth Funds

2021 ◽  
Vol 03 (05) ◽  
pp. 30-37
Author(s):  
I. T. Jumaniyazov ◽  
Keyword(s):  
International Monetary Fund ◽  
Main Criterion ◽  
Sovereign Wealth Funds ◽  
Foreign Experience ◽  
Key Indicator ◽  
The International Monetary Fund

This article examines and analyzes the criteria for maximum transparency, which is the main criterion for evaluating the effectiveness of sovereign funds. Two globally recognized methods for assessing the maximum transparency of sovereign wealth funds have been analyzed. The Santiago Principles and the Linaburg-Madwell Transparency Index, approved by 26 member countries of the International Monetary Fund and based on generally accepted rules, have been studied and analyzed in detail. Foreign experience in ensuring maximum transparency of sovereign wealth funds has been studied. A number of problems in ensuring the maximum transparency of the Fund's activities, which are the main criteria for assessing the effectiveness of the Fund for Reconstruction and Development in our country, were analyzed and scientific and practical suggestions and recommendations were made to ensure maximum transparency of the Fund's activities.

The Constructive Role of Private Creditors

2003 ◽  
Vol 17 (2) ◽  
pp. 18-25
Author(s):  
Arturo C. Porzecanski
Keyword(s):  
Emerging Markets ◽  
Financial Markets ◽  
International Monetary Fund ◽  
Emerging Market ◽  
Financial Intermediaries ◽  
Government Officials ◽  
Policy Makers ◽  
The Past ◽  
The International Monetary Fund

During the past couple of years, policy-makers in Washington and other capitals of G-7 countries have been flogging the idea that the functioning of the world's financial markets must be improved by making it easier for insolvent governments, especially in emerging markets, to obtain debt relief from their bondholders and bankers.Most savvy investors, financial intermediaries, and emerging-market government officials, however, are at a loss to understand why the G-7 and the International Monetary Fund (IMF) believe the international financial system would function better if there were specific mechanisms to facilitate sovereign bankruptcies.

Der Aufschwung des Katastrophen-Kapitalismus

2006 ◽  
Vol 36 (143) ◽  
pp. 177-183
Author(s):  
Naomi Klein
Keyword(s):  
Natural Disaster ◽  
International Monetary Fund ◽  
Bush Administration ◽  
The Us ◽  
Us Government ◽  
The International Monetary Fund

Fitting to its doctrine of preventiv war, the Bush Administration founded a bureau of reconstruction, designing reconstruction plans for countries which are still not destroyed. Reconstruction after war or after a “natural disaster” developed to a profitable branch of capitalist investment. Also the possibilities to change basic political and economic structures are high and they are widely used by the US-government and institutions like the International Monetary Fund.

New Approaches to Understanding Judicial Ethics in the Information

2020 ◽  
Vol 2 (3) ◽  
pp. 12-32
Author(s):  
E. V. Burdina ◽  
Keyword(s):  
Self Regulation ◽  
Legal Regulation ◽  
Subject Area ◽  
Social Needs ◽  
Legal Norms ◽  
Stage Of Development ◽  
Judicial Administration ◽  
Personal Approach ◽  
Personal Qualities ◽  
The Subject

Introduction. The article is devoted to the problems of the essence and content of judicial ethics in the new conditions of the technical revolution and with other social needs for legal regulation. Theoretical Basis. Methods. The work used a systematic, activity-personal approach to the study of moral and ethical standards of the conduct of judges. This made it possible to reveal a new and broader view on judicial ethics, which is not simply a set of moral restrictions and obligations imposed on a judge. Results. The work has identified and analysed the signs of judicial ethics at the current stage of development. It is argued that ethical regulation is precautionary in relation to the legal regulation of the independence of judges, for they complement ethical rules and reinforce legal norms. The ethical conduct of judges is an instrument guaranteeing judicial independence in all of its manifestations, including in organisational and judicial relations. The new realities of our time recognise the expansion of boundaries and the subject area itself of ethical regulation. A broader view on judicial ethics, which differs from the traditional one, is hereby justified. The latter is defined in two ways – namely both as a system of professional values, as well as a means of judicial administration based on the principle of self-regulation. By its very nature, judicial ethics is the result (and the way) of judicial self-governance, developed on the basis of the experience of functioning bodies of the judicial community. Discussion and Conclusion. Conclusions are drawn on both the instrumental and the managerial impact of the categories of ethics. The subject of judicial ethics has been defined, which constitutes the rules of conduct of judges in the performance of their professional duties and beyond – namely the set of general principles of work of a judge, as well as the personal qualities of a judge personifying the judicial power. Proposals on the optimisation of the mechanism of ethical influence, differentiation of ethical and disciplinary norms have also been substantiated.

Strategic Audit Inquiry: The Impact of Timing and the Promotion of Statutory Protections on Client Fraud Disclosures

2020 ◽  
Vol 34 (3) ◽  
pp. 153-167
Author(s):  
John R. Lauck ◽  
Stephen J. Perreault ◽  
Joseph R. Rakestraw ◽  
James S. Wainberg
Keyword(s):  
Best Practices ◽  
Audit Quality ◽  
Self Regulation ◽  
Data Availability ◽  
Audit Committees ◽  
External Auditors ◽  
Extant Literature ◽  
Psychological Theories ◽  
Inquiry Process ◽  
The Impact

SYNOPSIS Auditing standards require external auditors to inquire of client-employees regarding their knowledge of actual or suspected fraud (PCAOB 2010b; AICPA 2016). However, the extant literature provides little guidance on practical methods that auditors can employ to increase the likelihood of fraud disclosure and improve audit quality. Drawing upon best practices in the whistleblowing literature and psychological theories on self-regulation, we experimentally test the efficacy of two practical strategies that auditors can employ during the fraud inquiry process: actively promoting statutory whistleblower protections and strategically timing their fraud inquiries. Our results indicate that auditors are more likely to elicit client-employee fraud disclosures by actively promoting statutory whistleblower protections and strategically timing the fraud inquiry to take place in the afternoon, when client-employee self-regulation is more likely to be depleted. These two audit inquiry strategies should be of considerable interest to audit practitioners, audit committees, and those concerned with improving audit quality. Data Availability: From the authors by request.

scholarly journals Interrogating the International Monetary Fund (IMF) Policies in Nigeria, 1986–2018

2021 ◽  
Vol 8 (1) ◽  
pp. 1932283
Author(s):  
Mathias Chukwudi Isiani ◽  
Ngozika Anthonia Obi-Ani ◽  
Paul Obi-Ani ◽  
Chukwudi G. Chidume ◽  
Stella Okoye-Ugwu
Keyword(s):  
International Monetary Fund ◽  
The International Monetary Fund
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