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The EU and the governance of globalisation

Author

Listed:
  • André Sapir
  • Alan Ahearne
  • Jean Pisani-Ferry
  • Nicolas Véron

Abstract

The system of multilateral rules and institutions that constitute the global economic governance regime trails the rapid transformation of the world economy. That system needs to adapt to geopolitical changes and to a growing number and diversity of participants in global economic integration, and must coexist with regionalism and market-led governance. Globalisation could proceed with weak global governance, but not without significant risks to its sustainability. The EU, which has a stake in the multilateral system and most likely a comparative advantage in institutional design, should be a key player in its reform agenda. The difficulty of the task is no excuse for avoiding it and for hiding behind US leadership. To equip itself with the ability to take initiatives towards reform, the EU requires changes in its own internal governance and its external representation. Contrary to conventional wisdom, these changes need not imply a federalisation of external relations. Copyright © 2008, Inderscience Publishers.

Suggested Citation

  • André Sapir & Alan Ahearne & Jean Pisani-Ferry & Nicolas Véron, 2008. "The EU and the governance of globalisation," ULB Institutional Repository 2013/8096, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/8096
    Note: SCOPUS: ar.j
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    Cited by:

    1. Miroslav N. Jovanovic, 2011. "Globalisation: An Anatomy," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume I, chapter 11, Edward Elgar Publishing.

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