Asia in Global Governance: A Case for Decentralized Institutions
AbstractThe global economic crisis refocused attention on the governance of international economic institutions (IEIs). This study uses the analytical framework of club theory to highlight structural obstacles to reform in international macroeconomic management, development finance, trade, and financial stability. The authors argue that reforms currently being discussed—for example, in voting power in the International Monetary Fund and the World Bank—are important, but not sufficient to make IEIs adaptable to the demands of a rapidly changing world economy. The authors propose transforming IEIs by shifting more decisions from the global to sub-global level. Partially decentralized decision making already exists in some policy areas (for example in regional development banks) and could expand and improve the provision of international public goods.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 157.
Length: 27 pages
Date of creation: 20 Oct 2009
Date of revision:
Contact details of provider:
Postal: Kasumigaseki Building 8F, 3-2-5, Kasumigaseki, Chiyoda-ku,, Tokyo 100-6008, Japan
Fax: (81-3) 3593-5571
Web page: http://www.adbi.org/
More information through EDIRC
global governance decentralized institutions; decentralizing international economic institutions; international institution reform;
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-22 (All new papers)
- NEP-PBE-2010-05-22 (Public Economics)
- NEP-SEA-2010-05-22 (South East Asia)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Lamberte, Mario & Morgan , Peter J., 2012.
"Regional and Global Monetary Cooperation,"
ADBI Working Papers
346, Asian Development Bank Institute.
- Peter A. Petri, 2010. "Beyond the Golden Era: Asia Pacific Cooperation after the Global Financial Crisis," Working Papers 11, Brandeis University, Department of Economics and International Businesss School.
- Morgan, Peter J. & Lamberte , Mario, 2012.
"Strengthening Financial Infrastructure,"
ADBI Working Papers
345, Asian Development Bank Institute.
- Rana, Pradumna B., 2013. "From a Centralized to a Decentralized Global Economic Architecture: An Overview," ADBI Working Papers 401, Asian Development Bank Institute.
- Rachel McCulloch, 2010. "The International Trading System and Its Future," Working Papers 08, Brandeis University, Department of Economics and International Businesss School.
- Masahiro Kawai & Peter A. Petri, 2010. "AsiaÃ¢â‚¬â„¢s Role in the Global Economic Architecture," Governance Working Papers 22728, East Asian Bureau of Economic Research.
- Masahiro Kawai & Peter A. Petri, 2010. "Asiaâ€™s Role in the Global Financial Architecture," Working Papers id:2958, eSocialSciences.
- Woosik Moon, 2011. "Whither East Asian economic integration? Korea’s regionalization cum globalization strategy," Asia Europe Journal, Springer, vol. 9(1), pages 29-42, November.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Robert Hugh Davis).
If references are entirely missing, you can add them using this form.