Since the Global Financial Crisis of 2008, the volume and volatility of global capital flows have increased. Changes in transnational financial flows have, in turn, triggered substantial changes in the nature, size and use of the existing system of financial institutions and conventions that govern these international financial flows and oversee stability. This system, the […]
Economic crises call attention to the limitations of prevailing economic orthodoxies and the institutional and regulatory architectures of the time. Consequently, crises often generate proposals for systemic change and sometimes create space for radical ideational change. The Global Financial Crisis beginning in 2008 prompted several actors to propose systemic reform, including rebuilding the international monetary […]
Global financial governance has transcended the relatively simple world of the Bretton Woods institutions. The International Monetary Fund (IMF) and the World Bank now share their issue areas with an increasing number of other formal and informal institutions. The analytical frameworks by which we understand the sources and consequences of institutional multiplicity and overlap are […]
The last few decades have seen significant progress in multilateral institutions across the Global South. Southern-led multilateral development banks (MDBs) play a key role in harnessing global capital to finance the sectors most important to borrowers, especially infrastructure. Two prominent Southern MDBs, the Development Bank of Latin America (CAF) and the Islamic Development Bank (IsDB), […]
For decades, the International Monetary Fund (IMF) has been the subject of vigorous debate in the international political economy. Given the central role assigned to the IMF in managing and preventing crises, it is not surprising that many studies of the global governance of balance of payments have typically focused on the IMF and its […]
The 21st century has ushered in the emergence of alternative institutions for liquidity provision and development finance, many of which are Southern-led. While this new financing brings real benefits to an architecture that has long been under stress and deemed insufficient, challenges lie ahead. With the addition of Southern-led institutions, there are now more sources […]
Rebecca Ray in BBC Mundo article, “Hacia dónde va el dinero de China en América Latina y cuáles son las nuevas inversiones del gigante asiático en la región.” BBC Mundo, December 21 2018.