Professor published in Asper Review of International Business and Trade Law

Professor Evar Oshionebo has published an article in the Asper Review of International Business and Trade Law.

His article, titled “Managing Resource Revenues: Sovereign Wealth Funds in Developing Countries” examines the legal and institutional frameworks for Sovereign Wealth Funds (SWFs) in developing countries within the context of the Santiago Principles. The Santiago Principles denote "a framework of generally accepted principles and practices that properly reflect appropriate governance and accountability arrangements as well as the conduct of investment practices by SWFs on a prudent and sound basis." The article identifies common features of SWFs including the governance structure of SWFs, the rules governing investment of assets, and accountability and transparency of SWFs. In particular, the article analyzes the degree to which the legal regimes governing SWFs promote transparency and accountability in the management and investment of resource revenues in developing countries. In addition, the article addresses the concerns raised by Western politicians and academics regarding SWFs investment in Western countries. The article suggests that, contrary to the clamour for more regulation of SWFs investment in Western countries, a better strategy would be to encourage or incentivize SWFs to be more transparent in the course of pursuing their investment objectives.

“Managing Resource Revenues: Sovereign Wealth Funds in Developing Countries” (2015) 15 Asper Review of International Business and Trade Law 217-264.