Global Economic Governance
The Global Economic Governance Initiative (GEGI) advances policy-oriented research to enable the international financial architecture to foster financial stability, human well-being and environmental sustainability across the globe.
RESEARCH SPOTLIGHT
With just six years until 2030, there is an urgent need to unlock investments and mobilize affordable climate finance in a fiscally sound and financially stable manner.
The International Monetary Fund (IMF) has a vital role to play, and proposals to reform the international financial architecture – whether the Bridgetown Initiative, the Paris Pact for People and Planet or the Nairobi Declaration – all involve reforms to the IMF.
Yet, despite notable recent strides, ambition to integrate climate at the Fund remains limited. A transformation of the IMF is necessary for aligning the international financial architecture with shared development and climate change goals.
A new report from the Task Force on Climate, Development and the IMF pushes for a faster and deeper evolution of the IMF that is both development-centered in its approach to climate and embraces an investment push as a priority goal. It presents three core policy recommendations animated by an IMF 2030 Action Agenda, comprised of concrete reforms to be implemented over the next 12 months.
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IMF Lending Returns to Low Levels While the PBOC Continues as the Largest Provider of Currency Swaps: Insights from the Updated Global Financial Safety Net Tracker
September 24, 2025By Marina Zucker-Marques, Laurissa Mühlich, and Barbara Fritz In a world beset by lower growth prospects, unprecedented uncertainty in international trade and high debt service pressures, access to timely financial resources is essential for central banks and governments in order to... [ More ]
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Green Developmental Statecraft: The International Dimension of Green Structural Transformation in the Global South
September 23, 2025Over the past 12 months, efforts to tackle a warming planet have lost momentum. There has already been a dialing back on climate initiatives at the Western-led Bretton Woods Institutions and by private financiers, with meaningful progress on the climate... [ More ]
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Still Constraining Climate Policy: Assessing the Climate-Related Industrial Policy Landscape in Five Figures
September 19, 2025By Rachel Thrasher and Praveena Bandara The consensus around the urgent need for climate policy continues to grow. In a July 2025 address, UN Secretary-General António Guterres lauded this new “moment of opportunity” by launching a technical report that highlights the... [ More ]
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Climate-Related Industrial Policies: Opportunities and Obstacles in the Global Trade and Investment Regime
September 19, 2025Advanced economies that have criticized industrial policy in the past, are now increasingly turning to those tools in response to the climate crisis. At the same time, existing trade and investment agreements, negotiated and drafted at a time when countries... [ More ]
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Global Development Policy Center – Annual Report 2025
September 02, 2025The Boston University Global Development Policy Center (GDP Center) is a policy-oriented research center working to advance financial stability, human well-being and environmental sustainability across the globe through rigorous interdisciplinary research, policy engagement and strategic communications. The GDP Center is a... [ More ]
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Call for Papers: The Role of Special Drawing Rights for Global Stability and Sustainable Economic Transformation
August 27, 2025The Boston University Global Development Policy Center, the Initiative for Policy Dialogue (IPD) and Institute of Global Politics (IGP) at Columbia University and the Center for Economic and Policy Research (CEPR) in Washington, D.C. will host a workshop on “The Role of... [ More ]
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V20 Debt Review: An Account of Debt in the Vulnerable Group of 20 — 3rd Edition
July 07, 2025Climate vulnerable economies have launched ambitious national plans and strategies to achieve prosperity while mitigating climate shocks, building resilience and powering their economies with clean energy. Resource mobilization will be critical for these efforts. However, members of the Vulnerable Group... [ More ]
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GDP Center Round-up: 4th International Conference on Financing for Development
June 26, 2025By Samantha Igo As a record-breaking heat wave strains energy grids and risks public health across Europe, policymakers, activists and experts convene in Seville, Spain from June 30 to July 3 for the highly anticipated 4th International Conference on Financing for... [ More ]
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Investing in Climate and Development: The Evolving Role of the International Financial and Tax Architectures
June 26, 2025Addressing the intertwined challenges of climate change and growth in emerging and developing economies requires an urgent and unprecedented increase in climate-aligned investment. Increasing investment is essential to addressing the negative effects of climate shocks on growth and productivity. This... [ More ]
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Are Multilateral Development Banks Big Enough, and How Can We Tell?
June 25, 2025By Rishikesh Ram Bhandary When governments met for the 3rd International Conference on Financing for Development in Addis Ababa, Ethiopia in 2015, they asked multilateral development banks (MDBs) to examine the adequacy of their resources to support the sustainable development agenda. [ More ]