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1. Toward a Robust Architecture for the Regulation of Data and Digital Trade

Author:
Dan Ciuriak and Maria Piashkina
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The rapid digital transformation occurring worldwide poses significant challenges for policy makers working within a governance framework that evolved over centuries. Domestic policy space needs to be redefined for the digital age, and the interface with international trade governance recalibrated. In this paper, Dan Ciuriak and Maria Ptashkina organize the issues facing policy makers under the broad pillars of “economic value capture,” “sovereignty” in public choice and “national security,” and outline a conceptual framework with which policy makers can start to think about a coherent integration of the many reform efforts now under way, considering how policies adopted in these areas can be reconciled with commitments under a multilateral framework adapted for the digital age.
Topic:
International Trade and Finance, Reform, Digital Economy, Multilateralism, and Digitization
Political Geography:
United States, China, Europe, Asia, and North America

2. Reforming Investor-State Arbitration by Recourse to the Domestic Courts of Host States

Author:
Armand de Mestral and Lukas Vanhonnaeker
Publication Date:
09-2019
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
In response to concerns raised about investor-state arbitration (ISA), different proposals for reform of this means of dispute settlement have been proposed. One such proposal is to entrust domestic courts with the resolution of investment disputes. Although opting for the resolution of investment disputes before domestic courts has led to some discussion about the advantages and difficulties of this approach, very few studies have analyzed the specificities of domestic regimes in this regard. Many questions remain unanswered, including whether foreign investors have, in practice, access to domestic courts in the host state and whether the remedies available domestically are comparable to those available in ISA. In an attempt to answer some of these questions, a questionnaire was prepared and answered by respondents in 17 countries, in addition to Canada, from different regions of the world.
Topic:
Reform, Democracy, Legal Theory, and Investment
Political Geography:
United States, Canada, South America, North America, Mexico, and Peru

3. Addressing Excessive Risk Taking in the Financial Sector: A Corporate Governance Approach

Author:
Steven L. Schwarcz and Maziar Peihani
Publication Date:
09-2018
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Excessive corporate risk taking by systemically important financial institutions (SIFIs) is widely seen as one of the primary causes of the global financial crisis. In response, an array of international reforms, under the auspices of the Group of Twenty’s (G20’s) standard-setting bodies, has been adopted to try to curb that risk taking. However, these reforms only impose substantive requirements, such as capital adequacy, and cannot by themselves prevent future systemic collapses. To complete the G20 financial reform agenda, SIFI managers should have a duty to society (a public governance duty) not to engage their firms in excessive risk taking that leads to systemic externalities. Regulating governance in this way can help supplement the ongoing regulatory reforms and reduce the likelihood of systemic harm to the public.
Topic:
Financial Crisis, Reform, Regulation, Risk, and Financial Institutions
Political Geography:
Global Focus

4. Egypt: Three Years after Tahrir Square

Author:
Andrew Thompson and Shreen Abou El-Naga
Publication Date:
05-2015
Content Type:
Video
Institution:
Centre for International Governance Innovation
Abstract:
In the final episode of Inside the Issues Season Four, Shreen Abou el-Naga joins host Andrew Thompson for a discussion on Egypt three years after Tahrir square. Has Egypt's revolution stalled? What role are the new intellectuals playing in shaping the country's future? Has the human rights situation, specifically for h, shifted? Tune in to access the full discussion and learn more about life in Egypt today.In the final episode of Inside the Issues Season Four, Shreen Abou el-Naga joins host Andrew Thompson for a discussion on Egypt three years after Tahrir square. Has Egypt's revolution stalled? What role are the new intellectuals playing in shaping the country's future? Has the human rights situation, specifically for women, shifted? Tune in to access the full discussion and learn more about life in Egypt today.
Topic:
Human Rights, Law, Political Activism, Popular Revolt, and Reform
Political Geography:
Arabia and Egypt

5. Cross-border Resolution of Financial Firms

Author:
Isabelle Duchane, Kateryna Dzaha, and James Supeene
Publication Date:
07-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The absence of an effective international regime for cross-border resolution of financial firms led to the disorderly failure of a number of global banks during the global financial crisis, at a high cost to taxpayers and global financial stability. Many jurisdictions still lack sufficient resolution powers and arrangements for cross-border cooperation. This brief proposes that the Financial Stability Board’s Key Attributes of Effective Resolution Regimes for Financial Institutions should be fully implemented within the Group of Twenty (G20) and expanded to include non-G20 states. The FSB should develop a series of model laws on cross-border resolution and endorse a multilateral memorandum of understanding containing reciprocal commitments among the signatories.
Topic:
International Trade and Finance, Financial Crisis, Reform, and G20
Political Geography:
Global Focus

6. Completing the G20's Program to Reform Global Financial Regulation

Author:
Malcolm D. Knight
Publication Date:
02-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Regulators have largely agreed on the main elements of a strengthened and internationally harmonized financial regulatory regime, endorsed at the 2014 Brisbane G20 Leaders Summit. These measures are a major step toward achieving a robust and less crisis-prone global financial system. Nevertheless, a number of specific measures need to receive closer attention in order for Group of Twenty (G20) leaders to declare their reform program a success.
Topic:
Reform

7. Emerging Countries and Implementation: Brazil's Experience with Basel's Regulatory Consistency Assessment Programme

Author:
Fernanda Martins Bandeira
Publication Date:
03-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
As part of a major effort to level the regulatory playing field among internationally active banks, the Basel Committee on Banking Supervision (BCBS) established the Regulatory Consistency Assessment Programme (RCAP) in 2012 to evaluate the consistency and completeness of Basel standards. The enlargement of international financial standard-setting affiliation opened the doors to the increasing participation of emerging markets in the financial regulation reform agenda. In spite of this, important challenges remain in terms of legitimacy, transparency and accountability for principal international standard setters as well as concerning the effective contribution of emerging economies. Recent Brazilian experience with RCAP points to some of the gaps that must be filled in order to serve the interests of a broader range of actors in the international regulatory landscape.
Topic:
Reform
Political Geography:
Brazil

8. Reforming Finance: Macro and Micro Perspectives

Author:
Pierre Siklos
Publication Date:
02-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Reforms of the financial system in the wake of the global financial crisis are incomplete. Beyond reforms, good judgment is essential in a crisis. Short-termism in finance cannot be completely controlled by regulation and supervision. Financial crises are inevitable but need not be as virulent at the global financial crisis. Central banks will have to rethink their policies and how they interact with other agencies partially responsible for maintaining financial system stability.
Topic:
Economics, Globalization, International Trade and Finance, Financial Crisis, Governance, and Reform
Political Geography:
Europe

9. Central Bank Independence in North Africa

Author:
Bessma Momani and Samantha St. Amand
Publication Date:
03-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
Securing CBI has become best practice in global governance. Both the political and economic literatures suggest that CBI facilitates price stability, promotes transparency to citizens and provides accountability toward the public good. CBI is also credited with protecting the economic and financial system from the trappings of regulatory capture. In addition, a number of scholars have argued that CBI is correlated with positive policy outcomes, including balanced long- term economic growth, stable financial markets and a reduced likelihood of publicly funded financial institution bailouts. Moreover, some have suggested that CBI is important for fostering a healthy liberal democracy. As global markets have become increasingly integrated and interdependent, securing CBI is also considered a domestic, regional and global public good.
Topic:
Development, Economics, Globalization, Monetary Policy, Governance, and Reform
Political Geography:
Africa and North Africa

10. The Big Break: The Conservative Transformation of Canada's Foreign Policy

Author:
John Ibbitson
Publication Date:
04-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The foreign policy of the Harper government has been called ideologically conservative, incoherent, a betrayal of a proud foreign policy tradition, and worse. The critics have a point, in that the Conservative view of Canada in the world represents a transformation from all that has gone before. But that transformation — that “big break” — disrupts an approach to foreign policy that was already under great stress. In fact, the arc of Canadian foreign policy from the end of World War II to the present can be divided into four periods: a period of Laurentian coherence, when the political, academic, bureaucratic and media elites living in the cities encompassed by the St. Lawrence River watershed formulated and implemented Canada's postwar approach to engaging the world; Laurentian incoherence, when that approach began to unravel due to both internal and external pressures; Conservative incoherence, when the Harper government tried — but often failed — to impose its own approach; and Conservative coherence, in which the Harper government has become increasingly sure-footed in its handling of diplomatic issues. Future governments may seek to reverse this Conservative reversal of the Laurentian approach, but given the breadth and depth of the Conservative coalition, at least some of the big break is likely endure.
Topic:
International Relations, Foreign Policy, and Reform
Political Geography:
Canada and North America