The western hegemony of the past two hundred years is ending as power shifts towards the east and as western states lose the authority to uphold a rules-based multilateral order. In the wake of the Great Crash of 2008 the G20 leaders took steps to bolster the multilateral order, including reform...

This essay examines the efforts of the World Bank to translate the rising economic weight of some developing countries into a larger voice in the governance of the organization. In a speech in April 2010, World Bank president Robert Zoellick argued that the advent of “a new, fast-evolving...

This article argues that the current G20 is unsustainable and should be replaced by a new body on a firmer constitutional foundation. It presents two designs, one of them a reformed version of the G20, the other a reformed version of the Bretton Woods (World Bank and IMF) governance arrangement....

Despite the global financial crisis and the prospect of severe economic recession, debates on future financial regulation take little if any notice of reasons why the previous regime of financial regulation failed so spectacularly. The paper identifies the key presumptions underlying efforts to...

The report outlines the history of the G20 and reviews its membership in terms of the key patterns of inclusion and exclusion. The author argues the G20 has been largely ineffective in addressing the main global economic governance challenges and considers two approaches for reforming it. The...

The report provides a brief overview of the World Bank’s key governance arrangements and the evolution of the voice reform agenda at the bank from 2003 to 2007. It further examines two bank reform phases (in 2008 and 2010), and critically assesses the key components of the voice reform process...

This DIIS report examines US trade policy during the first ten months of Donald Trump's presidency, up to early November 2017. It identifies the main points of Trump's trade policy and compares them to mainstream US trade policy since the 1970s. It then documents the extent to which they have...

Central banks can potentially influence the investment decisions of private financial institutions, which in turn will create incentives towards green technology adoption and development of lower emission business models. This paper examines how central bankers are engaging with the green...

When publishing the results of the recapitalization exercise, the European Banking Authority reported that European banking had been successfully recapitalized and was now in a much stronger position, with a much strengthened capital base and overall resilience. 'European banks have made...