THE SANTIAGO PRINCIPLES FOR THE SOVEREIGN WEALTH FUNDS: A THEORETICAL ANALYSIS

Authors

  • Pedro Lange Netto Machado Universidade Federal de Santa Catarina

DOI:

https://doi.org/10.5380/cg.v7i1.58157

Abstract

This article analyses the Santiago Principles as an international regime in formation. With the threat of financial protectionism by concerned countries with Sovereign Wealth Funds’ acts, these principles appear as a proposal for regulation in this area. However, their strictly voluntary character generates doubts and incredulity against their efficacy (PARK; ESTRADA, 2011). In face of these concerns, this article presents the hypotheses that the Santiago Principles represent an international regime in formation, which could bring to the formation of a collective identity among its participants. This hypothesis is sustained by Krasner’s (1982) and Keohane’s (1984) theories, who provide the theoretical basis about international regimes, and by Wendt’s (1999), who instantiates the construction of this possible collective identity. Through these authors’ theoretical lens, associated with studies by the International Forum of Sovereign Wealth Funds, the presented hypothesis is confirmed.

Key-words: Sovereign Wealth Funds; Santiago Principles; International regime; Collective identity.

References

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Published

2018-05-25

How to Cite

Machado, P. L. N. (2018). THE SANTIAGO PRINCIPLES FOR THE SOVEREIGN WEALTH FUNDS: A THEORETICAL ANALYSIS. Conjuntura Global, 7(1). https://doi.org/10.5380/cg.v7i1.58157

Issue

Vol. 7 No. 1 (2018)

Section

Articles

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