主权财富基金国际合作监管研究

发布时间：2018-06-25 03:25

本文选题：主权财富基金 + 国际合作　；参考：《安徽财经大学》2011年硕士论文

【摘要】：近些年来主权财富基金一改往日的低调面貌,在世界范围内掀起了主权财富基金风暴,同时其自身在规模上也得到了空前扩张。在中国、俄罗斯等大国纷纷设立自己的主权财富基金之后更引起了西方国家的恐慌,它们甚至将主权财富基金视为“洪水猛兽”。针对主权财富基金本身具有政治色彩及不透明性等因素,主权财富基金的投资接受国大都致力于制定规制主权财富基金投资的单边特别监管规范,以提高主权财富基金投资的审查标准、准入门槛等。由于这些单边监管措施的存在,阻碍了主权财富基金在世界范围内的正常投资活动,不利于主权财富基金的健康发展。因此有必要在国际合作的前提下制定有关主权财富基金国际合作统一监管的文件。为了解决这些问题,构建主权财富基金多边国际合作监管机制的思路逐渐被提上了日程。美国和部分主权财富基金所有国在华盛顿会晤,达成《华盛顿约定》,IMF经过努力也出台了《圣地亚哥原则》,随后OECD发表了《OECD宣言》,不可否认的是上述探索对主权财富基金的国际合作监管都作出了自己的贡献,但是它们自身都存在很大的缺陷,未能形成切实可行的针对主权财富基金国际合作监管的完整方案,它们都只是针对主权财富基金监管的一些无强制力的框架原则、建议。因此,针对既有主权财富基金国际合作监管探索的不足,笔者认为构建主权财富基金国际合作监管框架势在必行,同时构建主权财富基金国际合作监管框架必须要坚持特定的原则和必要的步骤,最终可以将WTO作为主权财富基金国际合作监管的协调机构。
[Abstract]:In recent years, sovereign wealth funds have changed their low-key features, setting off a storm of sovereign wealth funds around the world, and at the same time, their own scale has been unprecedented expansion. In China, big countries such as Russia have set up their own sovereign wealth funds after the panic in the West, they even see sovereign wealth funds as a "monster." In view of the political color and opacity of the sovereign wealth fund itself, the National Congress of Investment acceptance of the sovereign wealth fund devotes itself to the establishment of unilateral special regulatory norms governing the investment of the sovereign wealth fund. In order to improve the sovereign wealth fund investment review standards, entry barriers and so on. The existence of these unilateral regulatory measures hinders the normal investment activities of sovereign wealth funds around the world and is not conducive to the healthy development of sovereign wealth funds. Therefore, it is necessary to establish a unified regulatory document on sovereign wealth funds under the premise of international cooperation. In order to solve these problems, the idea of setting up multilateral international cooperation regulatory mechanism of sovereign wealth funds has gradually been put on the agenda. The United States and some of the sovereign wealth funds have met in Washington, The conclusion of the "Washington Agreement" was made by the IMF through its efforts and the "Santiago principles", and then the OECD issued the "OECD Declaration." what is undeniable is that the above-mentioned exploration has made its own contribution to the international cooperative regulation of sovereign wealth funds. But they all have their own flaws and fail to come up with a viable and complete plan for international co-operation in the regulation of sovereign wealth funds. They are just some framework principles that are not mandatory in the regulation of sovereign wealth funds. Therefore, in view of the deficiency of the international cooperative supervision of the existing sovereign wealth funds, the author thinks that it is imperative to construct the regulatory framework of the international cooperation of the sovereign wealth funds. At the same time, to construct the regulatory framework of international cooperation of sovereign wealth funds, we must adhere to specific principles and necessary steps, and finally take the WTO as the coordinating body of international cooperation and supervision of sovereign wealth funds.
【学位授予单位】：安徽财经大学
【学位级别】：硕士
【学位授予年份】：2011
【分类号】：D996.2

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