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1. Regional Financial Arrangements and the International Monetary Fund: Sustaining Coherence in Global Financial Governance

Author:
C. Randall Henning
Publication Date:
01-2020
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Cooperation and competition among regional financial arrangements (RFAs) and the International Monetary Fund (IMF) increasingly determine the effectiveness of the global financial safety net (GFSN), which many observers fear is becoming fragmented. Overlap among these crisis-fighting institutions has important benefits but also pitfalls, including with respect to competition, moral hazard, independence, institutional conflict, creditor seniority and non-transparency. The study reviews the RFAs in Latin America, East Asia and Europe to assess their relationships with the IMF and address these problems. Among other things, it concludes: institutional competition, while harmful in program conditionality, can be beneficial in economic analysis and surveillance; moral hazard depends critically on institutional governance and varies substantially from one regional arrangement to the next; secretariats should be independent in economic analysis, but lending programs should be decided by bodies with political responsibility; and conflicts among institutions are often resolved by key member states through informal mechanisms that should be protected and developed. Findings of other recent studies on the GFSN are critiqued. Architects of financial governance should maintain the IMF at the centre of the safety net but also develop regional arrangements as insurance against the possibility that any one institution could be immobilized in a crisis, thereby safeguarding both coherence and resilience of the institutional complex.
Topic:
Governance, Surveillance, Strategic Competition, and IMF
Political Geography:
Europe, Middle East, Asia, South America, Australia, North America, and Global Focus

2. Global Governance in 2030: Prospective Scenarios on the Future of Politics

Author:
Julia Pomares and María Belén Abdala
Publication Date:
01-2020
Content Type:
Special Report
Institution:
Center for the Implementation of Public Policies for Equity and Growth (CIPPEC)
Abstract:
We are living in an era of unprecedented changes. Mature democracies, emerging polities and the least electorally competitive countries are now facing new challenges in a globalized world. They are all dealing with technological breakthroughs, changes in global economic power, ageing populations and urbanization of their territories. Today’s picture shows that social inclusion seems to be an unfulfilled promise, and social cohesion is weakening. Some citizens are disenchanted, and political systems are having trouble adapting and responding to new demands. According to Edelman’s Trust Barometer (2017), one in every two countries does not have faith in the system, and we still do not know how this picture is going to evolve. In democracies, pro-democracy attitudes coexist with openness to nondemocratic forms of governance, such as rule by experts (49 per cent), strong leaders (26 per cent) or the military (24 per cent). This picture might be part of a transition period or indicating that polities are not being able to cope with some of the new challenges. It is why we need to think about the future of politics and how these trends will shape global governance in the next 10 to 20 years. Are political systems ready to govern a digital economy? How should political leaders evolve to address radical changes in an automated world? What will the consequences be for global governance and for the role of G20? This paper analyzes current global trends in domestic politics and the prospective scenarios on the future of politics. To do so, the paper presents a brief description on three forces we know will forge the future: technological breakthroughs, demographic changes and shifts in global economic power. Later, it turns to the uncertainty of the future. We live in nation states, so we first attempt to devise how these forces will shape domestic politics. We then look at global governance and the way these trends will impact upon it. The final stop of this journey is an analysis of the implications of these scenarios for the role of the G20.
Topic:
Economics, International Cooperation, Governance, Democracy, and Geopolitics
Political Geography:
Global Focus

3. How Can Global Governance Be Fixed in an Age of Upheaval?

Author:
Thierry de Montbrial, Robin Niblett, Ed Feulner, and Feng Zhu
Publication Date:
01-2020
Content Type:
Video
Institution:
Institut français des relations internationales (IFRI)
Abstract:
Ifri’s Executive Chairman Thierry de Montbrial spoke at the 20th World Knowledge Forum in Seoul on September 25, 2019 with Robin Niblett, Chatham House's director, Ed Feulner, The Heritage Foundation's Founder and Former President and Feng Zhu, Director of the Institute of International Studies at Nanjing University about the major governance issues of our time. The global geopolitical situation is caught in a maelstrom. The conflict between the United States and China is getting worse and subsequent negative effects are rising. In Europe, Brexit is making the continent more divisive than harmonious. The instability in Middle East is not solved. In addition, the North Korea’s nuclear weapons are an endless source of problem that defies a quick solution, which made the politics surrounding the Korean Peninsula more complex. The problem is that the currently weak global governance may lead the global political landscape into a serious crisis. To give an answer to these problems, heads of top think tanks share their prospect and the future of the global governance, giving a guideline for each country to listen for a better direction.
Topic:
Governance, Geopolitics, Think Tanks, and Trade
Political Geography:
China, Europe, Middle East, North Korea, Global Focus, and United States of America

4. The impact economy: balancing profit and impact

Author:
Dirk Schoenmaker
Publication Date:
07-2020
Content Type:
Working Paper
Institution:
Bruegel
Abstract:
Governments and companies can reinforce each other in their pursuit of sustainable development, which is based on three pillars: economic, social and environmental. An impact economy, in which governments and companies balance profit and impact, is best placed to achieve the United Nations sustainable development goals.
Topic:
Economics, Environment, United Nations, Governance, Sustainable Development Goals, Business, and Private Sector
Political Geography:
Global Focus

5. Forecasting exchange rates of major currencies with long maturity forward rates

Author:
Zsolt Darvas and Zoltan Schepp
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Bruegel
Abstract:
This paper presents unprecedented exchange rate forecasting results based upon a new model which approximates the gap between the fundamental equilibrium exchange rate and the actual exchange rate with the long-maturity forward exchange rate.
Topic:
Economics, Governance, Global Political Economy, and Exchange Rate Policy
Political Geography:
Global Focus

6. Downstream oil theft: Countermeasures and good practices

Author:
David Soud, Ian M. Ralby, and Rohini Ralby
Publication Date:
05-2020
Content Type:
Special Report
Institution:
Atlantic Council
Abstract:
Downstream oil theft has become a global problem. Since most of the world’s energy systems still rely on oil, fuel smugglers are nearly always able to find markets for their goods. Moreover, since oil is not inherently illegal, it is generally an easy product to move, buy, and sell. Profits from oil theft are frequently used to fund terrorism and other illegal activities. The new Atlantic Council Global Energy Report by Dr. David Soud, Downstream Oil Theft: Countermeasures and Good Practices, provides an in-depth look at how governments—from militaries to law enforcement officials—along with other stakeholders can anticipate and intercept instances of downstream oil theft. The report offers a range of methods to counter oil theft, which range from fuel marking and other technologies to transnational
Topic:
Security, Crime, Energy Policy, Environment, Governance, Law Enforcement, and Geopolitics
Political Geography:
Global Focus

7. Fight the COVID-19 Pandemic and Improve Global Health Governance

Author:
Lin Ren, Aizong Xiong, Guoding Wu, Chen Shen, Xu Tian, and Bo Peng
Publication Date:
07-2020
Content Type:
Working Paper
Abstract:
The fast spreading of the COVID-19 across the globe points to the urgency of strengthening global health governance. As the core global health governance institution, the WHO has taken a series of actions after the eruption of the epidemic and played an important role in providing guidance and coordinating global forces to combat the epidemic. The epidemic, however, has also exposed some defects of the global health governance mechanism, especially the WHO, and posed challenge to it. The international community needs to strengthen its support for the WHO to improve its role in the global health governance.
Topic:
Health, Governance, and COVID-19
Political Geography:
China, Asia, and Global Focus

8. Eight Heads of States versus Coronavirus: A Leadership Comparative Question – Part 1

Author:
Mohammed Cherkaoui
Publication Date:
04-2020
Content Type:
Special Report
Institution:
Al Jazeera Center for Studies
Abstract:
Leadership in crisis can be a mixture of science, history, and art. It derives from the need for being well-informed with data and dynamics, well-enlightened with best practices and matured wisdom among previous leaders in similar challenging times.
Topic:
Governance, Coronavirus, and COVID-19
Political Geography:
Global Focus

9. The UN’s Pandemic Response: The Beginnings of a Real Global Plan?

Author:
Leah Zamore, Knut Gerlach, and Ben Oppenheim
Publication Date:
04-2020
Content Type:
Special Report
Institution:
Center on International Cooperation
Abstract:
Describing the coronavirus pandemic as a “global health crisis unlike any in the 75-year history of the United Nations” the UN has in recent days called for the launch of a large-scale, coordinated, and comprehensive multilateral response to combat the virus and its attendant economic and social consequences. It has published a set of action plans that aim to avert the potentially catastrophic impact of the virus, especially on the world’s most vulnerable and impoverished communities.
Topic:
United Nations, Governance, Reform, Multilateralism, Humanitarian Crisis, and COVID-19
Political Geography:
Global Focus

10. Public Opinion, Trust, and the COVID-19 Pandemic

Author:
Paul von Chamier, Nendirmwa Noel, Sarah Cliffe, and Leah Zamore
Publication Date:
05-2020
Content Type:
Special Report
Institution:
Center on International Cooperation
Abstract:
As the COVID-19 pandemic continues, policymakers must navigate public perceptions of coronavirus risk and government responses. This task is all the more challenging given press coverage focusing on outliers and extreme views, polarization and disinformation on social media platforms, and the relative dearth of reliable public opinion polling. These constraints notwithstanding, understanding people’s perceptions of the impact of COVID-19 and their priorities emerging from this crisis will be crucial for building back better. This two-part briefing pulls together data from several global, regional, and national polls conducted over the past month and a half to provide a descriptive summary of trends in public opinion towards COVID-19. The first part of the briefing, by Paul von Chamier, Nendirmwa Noel, and Elizabeth Angell, focuses on global polls tracking levels of public trust in government and other institutions, and public perceptions of the trade-offs involved in calibrating lockdown measures. Overall, the results suggest that most people around the world are highly concerned about the pandemic, supportive of a strong government response, and willing to suffer economic losses in order to save lives—although not without limit. The second part, by Leah Zamore and Sarah Cliffe, focuses on polling from low-income countries, especially in Africa, which find similar trends. However, the greater vulnerability of low-income households in those countries and the practical barriers to some social distancing and lockdown measures mean that public support will decline as people experience greater hardships. The briefing suggests that adequate and equitable government support is a vital prerequisite to sustaining trust—and thus the global public health response.
Topic:
Governance, Public Opinion, Humanitarian Crisis, and COVID-19
Political Geography:
Global Focus