The world economic system is now integrated, in the increased cross-border flows of goods and capital and in the sustained activity of institutions like the UNCTAD, World Trade Organization and other regional organization. In such a world, domestic political and economic dynamics have global...

The U.S.-China conflict is threatening continued global economic prosperity and this has inspired a variety of predictions and prescriptions on the future global order. This paper proposes a light model of global governance not only to form international agreements across countries but also to...

We are experiencing a tumultuous period in global politics, with international economic governance facing a period of great uncertainty. Meanwhile, since the de facto collapse of the WTO's Doha Round, a plethora of preferential agreements has begun to supplant the WTO's rule-making function and...

The recent global crisis has reminded everyone of the importance of reforming the international monetary and financial system. The current system is no longer adequate to meet the needs of a complex, integrated world economy. Various proposals, both on the demand and supply sides, have been put...

It is difficult to know what to make of the present discussion about a New International Economic Order although it is certainly lively enough. Few observers can be able to point out the various levels at which arguments are bandied. Hardly anybody can distinguish a clear pattern in the variety...

The demand for control over transnational corporations forms part of the demands for a New International Economic Order. The statements about the question of effective means of control are however so far vague and in the context of the demands for a New Economic Order even contradictory. Until...

In this WZB Discussion Paper we develop an analytical framework for the research project 'Contested World Orders', a collaborative effort between researchers based at the German Institute of Global and Area Studies (GIGA), the Peace Research Institute Frankfurt (PRIF), and the Berlin Social...

The policy advice given by economists in international institutions is influenced by their prior academic work. In my case, applied general equilibrium work resulted both in a belief in the necessity of decentralized markets and in a distrust of their ability to be stable. A career in...

The international financial crisis that started in 2007 was much more than an accident caused by undisciplined financial innovations. It was a major failure of global economic governance. “The globalization of finance and monetary systems has excessively prolonged the duration of unsustainable...