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Rising Powers in Global Economic Governance: Mapping the Flexibility‐Empowerment Nexus

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  • Eugénia C. Heldt
  • Laura C. Mahrenbach

Abstract

Given long‐standing criticism of global economic institutions by rising powers, it is puzzling that these same governments supported the transfer of substantial resources and responsibilities to the IMF and the World Bank during recent reform negotiations. We argue rising powers’ support for international organization (IO) empowerment is linked to their concerns regarding an IO's flexibility. We introduce two types of flexibility as being most relevant for rising powers. These include governance flexibility – the extent to which rising powers may participate in IO decision‐making – and issue flexibility – the extent to which rising power preferences are incorporated into IO policies and programs. We illustrate our argument by examining the preferences of the BIC states (Brazil, India and China) towards IMF and World Bank reforms between 2008 and 2012. Drawing on archival material with over 50 statements from BIC representatives, we find, first, that there were clear links between Bank and Fund governance flexibility and the BICs’ support for empowerment of these IOs, but that this was not true for issue flexibility. Second, we find evidence indicating the strategies of individual BIC governments differ within these IOs, suggesting a need to undertake more differentiated studies of rising powers’ IO activities.

Suggested Citation

  • Eugénia C. Heldt & Laura C. Mahrenbach, 2019. "Rising Powers in Global Economic Governance: Mapping the Flexibility‐Empowerment Nexus," Global Policy, London School of Economics and Political Science, vol. 10(1), pages 19-28, February.
    • Handle: RePEc:bla:glopol:v:10:y:2019:i:1:p:19-28
    DOI: 10.1111/1758-5899.12643
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    References listed on IDEAS

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    Cited by:

    1. Eugénia C. Heldt & Patrick A. Mello & Anna Novoselova & Omar Ramon Serrano Oswald, 2022. "Persistence Against the Odds: How Entrepreneurial Agents Helped the UN Joint Inspection Unit to Prevail," Global Policy, London School of Economics and Political Science, vol. 13(2), pages 235-246, May.
    2. Andreas Kruck & Bernhard Zangl, 2020. "The Adjustment of International Institutions to Global Power Shifts: A Framework for Analysis," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 5-16, October.
    3. Alexander Thompson, 2020. "Emerging Powers and Differentiation in Global Climate Institutions," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 61-72, October.

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