Financial Governance
Introduction
The global financial crisis revealed major shortcomings in the system of institutional and regulatory governance.
To move beyond the crisis, it will be necessary to improve current structures and develop a more fair and efficient structure of global governance that reflects changes in the global political and economic landscape.
The principle of equal participation and inclusive cooperation should be followed in improving global governance. It is imperative to raise the voice and representation of developing countries.
It has become a consensus of all parties to improve current structures and develop a more fair and efficient structure of global governance. In terms of financial governance, we should draw lessons from this financial crisis and learn from our experience in tackling it. We need to reform international financial institutions, tighten global financial regulation, and put in place regional financial assistance mechanisms.
Accountability and discipline on the part of global reserve currency issuers should be strengthened. In this way, financial stability and economic development of the world will be achieved.
Global Competitiveness
The Global Competitiveness Report 2012-2013 assesses the competitiveness landscape of 144 economies, providing insight into the drivers of their productivity and prosperity. The Report series remains the most comprehensive assessment of national competitiveness worldwide. Access the data platform to visualize and download the data.This year’s report findings show that Switzerland tops the overall rankings in The Global Competitiveness Report for the fourth consecutive year. Singapore remains in second position with Finland, in third position, overtaking Sweden 4th. These and other...
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September 7, 2011
Summit on the Global Agenda 2010
The Summit on the Global Agenda is a unique gathering of the Members of the Forum’s Network of Global Agenda Councils, the world’s most relevant thought leaders from academia, business, government and society.Over 700 participants are engaging in interactive workshops and sessions to set priorities for the most compelling ideas to improve the state of the world and identify the latest trends, risks and innovative solutions to address the world’s challenges.
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November 28, 2010
Private investors
There is little doubt that private investors face a more challenging financial climate than at any time in a generation.As financial reforms gather pace attention is focusing on the impact that this is likely to have on the financial services industry, on private equity investors and on the wallets of professionals.Will there be appetite for more initial public offerings in 2011, thereby providing an exit for some companies' investors - this remains unclear. What is clear is that uncertainty will remain a feature of the landscape for some time to come. Eric Mindich, Founder and...
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November 10, 2010
World Economic Forum Annual Meeting 2010
The Annual Meeting 2010 was organized under the theme “Improve the State of the World: Rethink, Redesign, Rebuild”. How will existing models of business, governance, development, employment, education and corporate citizenship need to adapt and evolve? Will our children’s children be speaking of the G2, G7, G20 or G77 when discussing the management of global issues? Improving the state of their world was what brought together leaders from industry, government and civil society to rethink, redesign and rebuild in Davos.
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November 4, 2010
Governments as shareholders: navigating the challenges of newly held interests in financial institutions
This working paper, written in collaboration with Oliver Wyman, discusses the issue of managing and resolving governments’ newly acquired equity interests in financial institutions. With over US$ 700 billion of taxpayers' money invested, the wrong choices – in policy objectives, management strategy, or emphasis in execution – could cost taxpayers billions of dollars and have long-term implications for the stability of the global financial architecture.
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November 4, 2010
The Future of the Global Financial System - Navigating the Challenges Ahead
This report explores the forces that shape the financial services landscape in the near term and provides stakeholders with tools to approach two of the most pressing challenges of the post-crisis world: managing and resolving governments’ newly acquired equity interests in financial institutions and restoring trust in financial institutions.
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November 4, 2010
World Economic Forum on Europe 2010
Co-hosted by the Government of Belgium shortly before it took up the rotating presidency of the EU, the meeting was held under the theme “Renewed Leadership, New Vision”, reflecting the fact that the recently appointed leadership of the EU institutions is now in the process of defining its vision and setting out its policy priorities.
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November 4, 2010
The Future of the Global Financial System: A Near-Term Outlook and Long-Term Scenarios
This initial report from the New Financial Architecture was mandated by the Forum’s investors and financial services communities in January 2008 to explore the driving forces that are shaping the global financial system in both the near-term and the long-term, and how these forces might affect governance and industry structure. This report is the outcome of phase one and presents a near-term analysis for key stakeholders and employs scenario thinking to describe four potential long-term futures for the global financial system.
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November 3, 2010
The Global Economic Impact of Private Equity Report 2008: Globalization of Alternative Investments
The World Economic Forum’s research project on the “Global Economic Impact of Private Equity” sought to analyse private equity transactions, meaning equity investments by professionally managed partnerships that involve leveraged buyouts or other equity investments with a substantial amount of associated indebtedness (as opposed, for instance, to venture capital investments in start-ups). The goal was to complete a rigorous study of the impact of these investments around the world, prepared by a tightly organized consortium of leading international scholars.This volume of Working Papers...
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November 2, 2010
Post Crisis Regulation
World Economic Forum on the Middle East 2009. Global Redesign Series: The Post-crisis Regulatory Environment. The scale of recent regulatory lapses has resulted in calls for increased cross-border financial oversight, affecting established business practice globally. How can Middle East businesses adjust their corporate governance practices to maintain their competitiveness regionally and globally?Participants include: Simon Clinton, Partner, Head of Corporate, Middle East, Clifford Chance, United Arab Emirates; John P. Drzik, President and Chief Executive Officer, Oliver...
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October 29, 2010
The Financial Development Report 2009
The world's largest economies took the biggest hit in the World Economic Forum's second annual Financial Development Report. Global financial centres still lead in the report's Index, but the effects of financial instability have pulled down their scores compared to last year. The United Kingdom, buoyed by the relative strength of its banking and non-banking financial activities, claimed the Index's top spot from the US, which slipped to third position behind Australia largely due to poorer financial stability scores and a weakened banking sector. The report ranks 55 of the world's leading...
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October 24, 2010
The Global Enabling Trade Report 2010
Singapore and Hong Kong SAR continue to occupy the top two positions followed by Denmark, Sweden and Switzerland in the The Global Enabling Trade Report 2010, released today by the World Economic Forum. New Zealand, Norway, Canada, Luxembourg and the Netherlands complete the top-10 list. Among the large economies, Germany is the best performer at 13th, ahead of the United States, which drops by three places to 19th. China (48th) and Brazil (87th) remain stable, while Turkey (62nd), India (84th) and Russia (114th) drop in the ranking.The results mirror the resilience against the threat of...
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October 24, 2010
Sustainable credit
In the aftermath of the global recovery attention is focusing on how to ensure greater stability amid concern about the susceptibility of some banks to ongoing turmoil and after-shocks in the financial markets.As banks repair their balance sheets and deal with huge writedowns concerns remain that with markets still reluctant to support leverage the severely diminished flow of credit may undermine a global recovery. It is accepted that the credit recovery will be slow and that policy moves by lawmakers may be required to address credit constraints. The International Monetary Fund has...
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October 20, 2010
New Financial Architecture
The Forum has looked at the driving forces shaping the global financial system and how these forces might affect governance and industry structure. Two reports on this subject have been published.The first report The Future of the Global Financial System: A Near-Term Outlook and Long-Term Scenarios1, published in January 2009 explored: How the financial crisis, and the changes it has precipitated in financial regulation and supervision, might affect the near-term structure of wholesale financial markets and how these changes would likely impact players in the banking, insurance...
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October 20, 2010
Alternative Investments
Through recent years, alternative investment asset classes such as private equity have become increasingly important pools of capital in the global financial system.Private equity activity in particular (defined as equity investments by professionally managed partnerships that involve leveraged buyouts or other equity investments with a substantial indebtedness) has accelerated noticeably. The total value of firms (both equity and debt) acquired in leveraged buyouts is estimated to be $3.6 trillion from 1970 to 2007, of which $2.7 trillion worth of transactions occurred between 2001 and 2007....
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October 20, 2010
Financing Growth and Development in Adverse Conditions
Financing Growth and Development in Adverse Conditions• Jorge Becerra • Antonio Bonchristiano • Roberto Teixeira da Costa • Luciano Coutinho • Douglas Smith • Roberto VellutiniModerated by • Stuart Allen Wednesday 15 April15.45-17.30Key points:• Recently there has been some good news in Latin American capital markets, such as successful corporate bond issues, but the bad news is not yet over. There is light at the end of the tunnel, but the tunnel may be longer than many think. The more developed capital markets in the region, such as ...
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April 15, 2009
Scenarios for the Future of the Global Financial System
Scenarios for the Future of the Global Financial System• Marcus Agius • Walter B. Kielholz • Henry R. Kravis • Daniel S. Och• H.E. Sheikh Hamad Al Sayari • Tony Tan Keng-Yam • Jean-Claude TrichetModerated by • Howard DaviesFriday 30 JanuaryThe future shape of the global financial system, as it emerges from the current efforts to turn the tide on the crisis, was the focus of this session. Banks, private equity, hedge funds and sovereign wealth funds came under particular scrutiny, as did the nature of new regulatory arrangements and international oversight.Marcus Agius, Chairman of Barclays,...
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January 30, 2009
