Global Economic Governance
The Global Economic Governance Initiative (GEGI) advances policy-oriented research to align global economic governance with development and climate ambitions and deliver green and inclusive prosperity.
RESEARCH SPOTLIGHT
A controversial legal process known as investor-state dispute settlements (ISDS) is making it difficult for governments to mobilize finance for ambitious climate action.
What is the potential liability of Global South countries to ISDS claims? And how does ISDS compound the ability of these countries to mobilize resources to invest in a just transition to net-zero economies?
A new study published in Climate Policy by a team of researchers at the Boston University Global Development Policy Center, Colorado State University and Queen’s University in Canada calculated the financial risk of ISDS by the average net present value (NPV) of all treaty-protected oil and gas projects as a percentage of gross domestic product (GDP), compared with climate vulnerability. The authors find that more than two-thirds of the calculated financial risk through potential ISDS claims is borne by countries in the Global South, resulting in a de facto transfer of wealth from the Global South to the Global North that undermines global climate finance commitments.
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Global Power Shifts Increase the Value of Independent Regionalism in Latin America
March 15, 2023By Leslie Elliott Armijo A global power rebalancing is in process, and Latin America now has the option of playing a larger role in global politics than ever before. In a new journal article in Global Perspectives, I argue that shifts in... [ More ]
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Regionalism, Multilateralism and Sovereign Debt: Observations from a Latin Americanist
March 15, 2023Does 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... [ More ]
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Parallel Scholars: Minsky, Kindleberger and a Connection Revealed
March 15, 2023By Perry Mehrling When Charles P. Kindleberger sat for his official photograph as President of the American Economic Association, he positioned himself so that just over his left shoulder you can see the book of Hyman Minsky, Can It Happen Again?... [ More ]
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Minsky and Kindleberger: Fellow Traveling Theorists of National and International Financial Instability
March 15, 2023While a connection between economists Charles P. Kindleberger and Hyman Minsky is clear, the full extent of their intellectual relationship was unclear. By his own account, Kindleberger’s attention was only first brought to Minsky by Martin Meyer in 1976 as... [ More ]
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Policy Innovation for Sustainable Development: The Case of the Amazon Fund
February 27, 2023For its long, winding roads and unknown challenges, fostering sustainable and inclusive development requires new public intervention models. Critically assessing existing innovative policy experiments, their outcomes and determinants, is important not only to strengthen the knowledge base but also to... [ More ]
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Webinar Summary – The Meddlers: Sovereignty, Empire & the Birth of Global Economic Governance
February 27, 2023By Timon Forster On February 15, 2023, the Boston University Global Development Policy Center hosted Jamie Martin to discuss his new book ‘The Meddlers: Sovereignty, Empire & the Birth of Global Economic Governance.’ The Meddlers charts the transformation of global economic... [ More ]
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Trading Away Budget Space? How Trade Liberalization is Crunching Developing Country Budgets
February 08, 2023By Devika Dutt and Kevin P. Gallagher The long-standing gridlock in trade negotiations in the World Trade Organization (WTO) has shifted the focus of trade negotiations to bilateral and plurilateral trade and investment agreements. Since the inception of the WTO in... [ More ]
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Chart of the Week: How Climate Transition Spillover Risks Could Affect Barbados’s GDP
February 01, 2023By Amanda Brown Barbados Prime Minister Mia Mottley spoke at the opening of the 27th United Nations Climate Conference (COP27), calling on powerful countries and institutions to commit to supporting climate vulnerable countries. From unlocking private sector finance to addressing loss and damage, Prime... [ More ]
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GDP Center Round-Up: Fall 2022 Global Economic Governance Book Talk Series
December 22, 2022By Amanda Brown The Fall 2022 Global Economic Governance Book Talk Series convened five distinguished scholars across four webinars to discuss their recent books, spanning topics from the key to successful development to capital flight in Africa. In September, Stefan Dercon opened... [ More ]
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Webinar Summary – Economic Diversification in Nigeria: The Politics of Building a Post-Oil Economy
December 22, 2022By Mridhu Khanna On December 1, 2022, the Boston University Global Development Policy Center hosted Zainab Usman to discuss her book, “Economic Diversification in Nigeria: The Politics of Building a Post-Oil Economy” as part of the Fall 2022 Global Economic Governance... [ More ]