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Unfinished Transformation
The end of the Cold War, the acceleration of globalization, and “the rise of the rest” posed serious challenges to the existing international order based on World War II settlements and Cold War modifications. The Global Financial Crisis of 2008 provided an opportunity to address this problem, as evidenced by the emergence of the G20 at the leadership level, but this adjustment, reflecting a sea change in international economic and political realities, was by no means a smooth process. Domestically, in many advanced industrial countries, there was a populist/nativist backlash as increasing socioeconomic disparities and interaction with the outside world produced economic anxiety and stat...
The G8-G20 Relationship in Global Governance
If the growing demand for global governance breathed new life into the established G7/8 and the more recent G20, it raised questions about the evolving and optimal relationship between them. One answer arose from the G20’s third summit, when it proclaimed the G20 would govern global finance and economics, while the old G8 would focus on development and security. Yet this rough division of labour did not address which issues lay within each category and how interconnections would be addressed to create comprehensive, coherent global governance for a complex world. This volume considers these questions. It explores the summits’ performance, the division of labour during their coexistence, ...
Oxford Handbook of the International Monetary Fund
The International Monetary Fund (IMF) is a pivotal institution in global economic governance tasked with ensuring monetary stability and preventing financial crises through promoting balanced trade, economic growth, and poverty reduction. It also plays a powerful normative role by shaping economic policies worldwide through its research and expertise. The IMF played a crucial role in managing crises like the 2008 financial crisis and the COVID-19 pandemic, providing significant financial aid and advocating for stimulus measures. However, the IMF faces both internal and external challenges from reforming its governance structure to better represent emerging economies to finding its place in a...
Smaller Cities in a Shrinking World
Over the past hundred years, the global motto has been “more, more, more” in terms of growth – of population, of the built environment, of human and financial capital, and of all manner of worldly goods. This was the reality as the world population boomed during the 1960s and 1970s. But reality is changing in front of our eyes. Growth is already slowing down, and according to the most sophisticated demographers, the earth’s population will begin to decline not hundreds of years from now, but within the lifetimes of many of the people now living on the planet. In Smaller Cities in a Shrinking World, urban policy expert Alan Mallach seeks to understand how declining population and econ...
Global Productivity
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity.The World Bank has created an extraordinary book on productivity, covering a lar...
Towards a Better Global Economy
Substantial progress in the fight against extreme poverty was made in the last two decades. But the slowdown in global economic growth and significant increases in income inequality in many developed and developing countries raise serious concerns about the continuation of this trend into the 21st century. The time has come to seriously think about how improvements in official global governance, coupled with and reinforced by rising activism of 'global citizens' can lead to welfare-enhancing and more equitable results for global citizens through better national and international policies. This book examines the factors that are most likely to facilitate the process of beneficial economic gro...
Middle-income Countries
Some observers have questioned the rationale for continued engagement by international development institutions in middle-income countries. But these countries face development challenges calling for continued partnership with the international development community. Moreover, partnership with these countries is increasingly important in global collective action.
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