Global Economic Governance
The Global Economic Governance Initiative (GEGI) advances policy-oriented research to align global economic governance with development and climate ambitions and deliver green and inclusive prosperity.
RESEARCH SPOTLIGHT
A cycle of extreme weather, financial instability, unsustainable debt levels and high costs of capital are limiting fiscal space at precisely the moment that a dramatic, stepwise increase in climate and conservation investments is needed to achieve the United Nations 2030 Sustainable Development Goals (SDGs) and Paris Agreement targets.
The Sovereign Debt and Environment Profiles (SDEP) Database is a new interactive data project tracking debt stress and capital market constraints as relative to climate investment needs, conservation investment opportunities and green finance opportunities.
The SDEP Database allows users to explore the fiscal constraints and green investment opportunities of 114 emerging market and developing economies.
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Does Global Crisis Finance Sustain a Middle-income Trap? Insights from the Updated Global Financial Safety Net Tracker
July 10, 2024By Laurissa Mühlich, Barbara Fritz and William N. Kring Following the COVID-19 pandemic, low- and middle-income countries (LICs and MICs, respectively), and in particular lower MICs, have recovered more slowly than high-income countries (HICs). LICs and MICs continue to struggle with... [ More ]
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How Central Bank Swaps Reinforce Inequalities in the Global Financial Safety Net
July 09, 2024By Marina Zucker-Marques, Laurissa Mühlich, Barbara Fritz, Thomas Goda What once consisted of only the International Monetary Fund (IMF) has become a complex, multilayered and non-coordinated network of institutions aimed at supporting countries during times of financial distress. This network is known... [ More ]
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Cherry-Picking in Central Bank Currency Swaps: Empirical Insights into the Determinants and Income Bias in Swap Access during Crises
July 09, 2024Since the 2007-09 global financial crisis, central bank currency swaps have become a crucial element of the Global Financial Safety Net (GFSN)—the set of institutions and arrangements that backstop countries in financial distress. These swaps, where credit lines between central... [ More ]
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Navigating Power Dynamics Within Latin America’s Regional Development Banks
July 09, 2024By Leslie Elliott Armijo and Verónica Rubio Vega Sepehr What can an international relations (IR) perspective reveal about cooperation within regional development banks—and vice versa? From the viewpoint of Latin America, the most democratic region within the Global South and the... [ More ]
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The Geopolitics of Latin America’s Regional Development Banks
July 09, 2024What factors help or impede international cooperation within regions of the Global South? A new working paper from Leslie Elliott Armijo and Verónica Rubio Vega Sepehr examines how variations in the geographic scope of a region can result in different types... [ More ]
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Global Financial Safety Net Tracker Database Methodology Guidebook
July 02, 2024The Global Financial Safety Net (GFSN) is a set of institutions and mechanisms that provide insurance against crises and financing to mitigate their impacts. It has four main elements: countries’ own international reserves; bilateral swap arrangements whereby central banks exchange... [ More ]
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Access to Green Finance Improves Compliance with Environmental Regulations in Bangladesh
July 01, 2024By Nabil Haque Over the last three decades, rapid industrialization and its ensuing pollution have led to a significant decline in environmental quality in Bangladesh. A 2023 report from the World Bank reveals the dire situation of water pollution in Bangladesh, [ More ]
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Regulatory or Market Pressures: What Promotes Environmental Grandstanding in Bangladesh?
July 01, 2024Bangladesh has experienced high environmental degradation with rapid economic growth. In the first decade of industrialization, factories operated without environmental clearances or monitoring and enforcement by regulatory bodies. Further, inadequate coordination among government departments led to the clustering of industrial... [ More ]
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Bretton Woods Revisited: Creating a Monetary and Economic Order Fit for the 21st Century
June 12, 2024Ahead of the 80th anniversary of the Bretton Woods Conference, the following institutions have prepared this statement: Institute for Economic Justice (South Africa), Centre for Social and Economic Progress (India), Centre for Sustainable Finance at SOAS, University of London (UK), BRICS... [ More ]
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Debt, Development and Gender
June 11, 2024Gender equality is a crucial component of successful development, yet austerity puts a disproportionate burden on women, increasing their economic vulnerability and affecting societal outcomes. Conversely, economic growth that leads to increased female labor force participation without compensatory investments in... [ More ]