Global Economic Governance Initiative

The Global Economic Governance Initiative (GEGI) is a research program of the Center for Finance, Law & Policy, the Frederick S. Pardee Center for the Study of the Longer-Range Future, and the Frederick S. Pardee School of Global Studies. It was founded in 2008 to advance policy-relevant knowledge about governance for financial stability, human development, and the environment.

Latest From GEGI

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The Global Economic Governance Initiative
(April 2017)

Since 2000, China’s global development banks have provided roughly $160 billion across the world.  These estimates stem from a new interactive database—the China Global Energy database— and inter-active web portal created and published by the Global Economic Governance Initiative (GEGI) at Boston University.  

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By Rebecca Ray, Kevin P. Gallagher, Andrés López and Cynthia Sanborn
(January 2017)

Over the last decade, Latin American countries have enacted some of the most ambitious environmental and social protections in the world. But these hard-won protections faced their first serious test in the recent China-led commodities boom, as growth exploded in intrinsically-risky sectors like mining and oil. China and Sustainable Development in Latin America  documents the social and environmental impact of the China-led commodity boom in the region. It finds that overall, Latin American governments and Chinese investors largely fell short of mitigating the social and environmental impact of commodity-led growth.

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by Kevin P. Gallagher and Rebecca Ray 
(March 2017)

In 2016, LAC’s economic relationship with China did not move much in total quantity: exports were flat while investment and finance fell slightly. However, one sector in particularly reinforced its centrality in all three major channels: extraction. China’s interest in LAC as a source of extractive raw materials has remained, even as other economic partners have shied away during the commodities price slump of the last several years.

This China-Latin America Economic Bulletin is the fourth annual note summarizing and synthesizing trends in the burgeoning China-Latin America economic relationship. The goal of the bulletin is to provide analysts and observers a handy reference to the ever-changing landscape of China-Latin America economic relations, a landscape where data is not always as readily accessible.

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The Inter-American Dialogue and the Global Economic Governance Initiative (GEGI)
(February 2017)

The Inter-American Dialogue’s China and Latin America program and Boston University’s Global Economic Governance Initiative (GEGI) estimate that China Development Bank and China Eximbank issued approximately $21 billion in loans to LAC governments and state-owned firms in 2016. This report highlights some of the primary features of Chinese lending over the past year.

Information on the various loans issued to Latin American governments and state-owned firms from 2005 to the present is available in the newly-updated Dialogue-GEGI China-Latin America Finance Database.

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GEGI and Brookings Institution
(October 2016)

To what extent can the new development banks harness their newfound resources toward sustainable infrastructure that is also socially inclusive?  To investigate this question, GEGI and the Global Economy and Development Program at the Brookings Institution examined the previous experience of national development bank support for sustainable infrastructure in order to draw lessons and offer guidance to the new development banks on this most salient issue.

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By Rebecca Ray, Kevin P. Gallagher, Andrés López and Cynthia A. Sanborn
(September 2016)

En América Latina, el reciente boom de las inversiones chinas es visto por algunos como una bendición, por permitirnos un mayor crecimiento económico, y por otros como una maldición, porque presenta una alta concentración en sectores primarios y extractivos. ¿Cuál es el balance de esta experiencia? ¿Las inversiones chinas han sido un motor de cambio positivo? ¿Las empresas chinas en nuestra región tienen un desempeño diferente del de otras empresas?En este libro, investigadores en ocho países –Argentina, Bolivia, Brasil, Colombia, Chile, Ecuador, México y Perú– se unen para responder estas preguntas. Sus estudios enfatizan el lado socioambiental de la relación con China, y el desempeño tanto de las empresas chinas en relación con otras transnacionales, como de los gobiernos nacionales al establecer altos estándares regulatorios. Se trata de una lectura analítica e informativa, y de un llamado a forjar relaciones internacionales basadas en la cooperación y el respeto mutuo.

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By Cornel Ban
(August 2016)

Ruling Ideas covers an extended historical period, starting with the Franco period in Spain and the Ceausescu period in Romania, discusses the economic integration of these countries into the EU, and continues through Europe’s Great Recession and the European debt crisis. The broad historical coverage enables a careful analysis of how neoliberalism rules in times of stability and crisis and under different political systems.

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By Bo Kong and Kevin P. Gallagher
(June 2016)

In this Kong and Gallagher trace how China’s financial system and state policy facilitates the globalization of Chinese energy companies in terms of trade and investment.  The key drivers of these efforts are the China Development Bank and the Export-Import Bank of China, China’s policy banks.  As China positions a second push in its globalization strategy with the Belt Road Initiative and other projects, we expect to see more of these dynamics play out across the world.  And if the patterns  and structures Kong and Gallagher identify hold into the future, China is poised to lead on the globalization of climate-friendly renewable energy technologies as well-as has already been the case in the globalization of photovoltaics from China.

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by Kevin P. Gallagher
(March 2016)
In The China Triangle, Kevin P. Gallagher traces the development of the China-Latin America trade over time and covers how it has affected the centuries-old (and highly unequal) US-Latin American relationship. He argues that despite these opportunities Latin American nations have little to show for riding the coattails of the ‘China Boom’ and now face significant challenges in the next decades as China’s economy slows down and shifts more toward consumption and services. While the Latin American region saw significant economic growth due to China’s rise over the past decades, Latin Americans saved very little of the windfall profits it earned even as the region saw a significant hollowing of its industrial base. What is more, commodity-led growth during the China boom reignited social and environmental conflicts across the region.

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