Does the existence of enduring multilateral cooperation within a geographic neighborhood—that is, regionalism—support or undercut global multilateralism? A new journal article from Leslie Elliott Armijo in Global Perspectives proposes a powerful mutuality of interests between global multilateralism and independent regionalism in the Global South, utilizing a case study of Latin America-focused policy entrepreneurship over several […]
Amid the devastation of World War ll, the United Nations Monetary and Financial Conference convened in Bretton Woods, New Hampshire with the goal of designing an interdependent economic architecture for mutual prosperity. Based on a set of common principles of peace, equity and employment, the International Monetary Fund (IMF) and precursors to the World Bank […]
Southern-Led Development Finance, a new book edited by Diana Barrowclough, Kevin P. Gallagher and Richard Kozul-Wright, examines some of the innovative new South-South financial arrangements and institutions that have emerged in recent years, as countries from the Global South seek to transform their economies and shield themselves from global economic turbulence. Even before the COVID-19 […]
The world economy is still reeling from the COVID-19 shock and the subsequent restrictions to social and economic activity. While in the developed world governments have been able to mobilize a massive arsenal of monetary and fiscal measures to prop up their economies, estimated at between 20 and 25 percent of their GDP, the poorest […]
The original Maastricht regime designed the Eurozone’s fiscal segment in a way that sought to keep member states’ treasury budgets balanced by disciplining them through market forces, reducing the overall volume of public indebtedness, prohibiting monetary financing and avoiding situations where the Eurozone treasuries would bail each other out. In a new journal article, Andrei […]
By Ember Larregui On Friday, April 9th, the Boston University Global Development Policy (GDP) Center, in partnership with the United Nations Conference on Trade and Development (UNCTAD) hosted a webinar discussion on the role of multilateralism in combating climate change with climate finance, just recoveries and a Global Green New Deal, as part of the […]
The COVID-19 pandemic has given rise to a blame game between the U.S. and China, disrupting the urgently needed international cooperation to control the spread of the disease and accelerate efforts to find and distribute affordable vaccines and treatments. The current finger pointing has exacerbated bilateral tensions that were already flaring as a result of […]
The Global Development Policy Center at BU and the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) hosted on August 18, 2020, a webinar entitled, “Collective Action Clauses in Motion: Lessons and Challenges for Covid-19 Era Sovereign Debt Restructurings.” The event featured a panel of renowned international legal and economic experts who […]
On March 17, the Boston University Council approved a new policy for Visiting Faculty & Research Scholars, and on June 16 a related policy for Visiting Students. These policies will be applied to all new appointments starting on or after Tuesday, September 1. Policy highlights are as follows — Visiting Faculty & Research Scholars Criteria for Appointment: The […]
GEGI Working Paper 041. August 2020. by Robert N. McCauley The Federal Reserve interventions in private securities markets in the spring of 2020 extended its 2008 playbook from buying high quality short-term paper to bonds, and departed from it by buying junk bonds. In March 2020, the Fed reprised its last-resort lending to primary dealers, […]