The global economic crisis refocused attention on the governance of international economic institutions (IEIs). This study uses the analytical framework of club theory to highlight structural obstacles to reform in international macroeconomic management, development finance, trade, and financial...

The global economic and financial landscape has been transformed over the past decade by the growing economic size and financial power of emerging economies. The new G20 summit process, which includes the largest emerging economies, has established high-level international policy cooperation in...

‘Country ownership,' ‘partnership' and ‘participation' are key pillars of what has become increasingly referred to as the ‘new aid architecture.' Catalysed primarily by the inception of the Poverty Reduction Strategy Paper (PRSP) framework, introduced in 1999 as preconditions for debt...

Increased globalization over the last twenty years has made effective global economic governance more important than ever. This period has witnessed the rise of a number of new international governance actors, such as the Group of Twenty and the Financial Stability Board. This Article proposes a...

Crisis may become a change catalyst, just as the collapse of the Bretton Woods monetary system and the oil crisis of 1973 led to the establishment of the G4 and its subsequent development. Similarly, the 2007-2008 crisis was a turning point for the G20 cooperation framework. A coincidence of a...

In this paper I argue that middle powers that are members of the G20 can extract substantial benefit from their participation in the G20 if they have both a clear long term vision of global economic governance and a plan of action that is based on obtainable short term objectives. In the article...

In the midst of the most serious global economic crisis since the Great Depression, it seems pertinent to reform the current system of global economic governance. There is a widely shared assumption that a new Group of 20 nations (G-20), represented by their Finance Ministers and Central Bank...

The IMF responded forcefully to the end of the par value system in 1971 by amending its Articles of Agreement and changing the scope of its interactions with its member states to better help them manage the challenges of a market based international monetary system. In addition to focusing on...