Energy is the lifeblood of the global economy, critical to all sectors of the economy including agriculture, transportation, waste collection, information technology and communications sources. In 2011, energy expenditures amounted to approximately 10 percent of the world gross domestic product (GDP), in which North America accounts for 20 percent, Europe for 25 percent and Japan […]
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 […]
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 […]
By Kevin P. Gallagher and William Kring. LatinAmericaGoesGlobal, April 6, 2017.