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Governing the Global Economy (Neoliberal Institutionalism (Authority and…
Governing the Global Economy
Neoliberal Institutionalism
Institutional Reform
IMF, WTO, and other international institutions
must be reformed in response to the changed nature of the
global economy
Democratic Deficit
WTO, World Bank. IMF - operate in secrecy
NGO's in decision-making process?
Authority and Power
Growing gap between the distribution of authority within existing international institutions and the international distribution of economic power
IMF, GATT/WTO, World Bank - under the authority
of US and Western Europe
Which nation or nations will control or predominate
Liberal state, market oriented, more
interested in cooperation and absolute
gains than in conflicts over relative gains
Issue of compliance
Regimes reform
International Institutions
New medievalism
NGOs have a central role in
the governance of international affairs
Belief that the world is experiencing
the end of national sovereignty
Result of ethnic and regional conflicts & because of multinational firms, international organizations & NGOs
Rejects the idea of a liberal international economic order based on cooperation
Governments have lost the monopoly over information
Global civic society
Transgovernmentalism
Technical and other functional problems can be
solved in isolation from larger national concerns and parochial political
matters
Transgovernmentalism ignores matters of national security and foreign policy and assumes no hierarchy or priority among the issues of interest to governments
Nation-states can be divided into their component parts
World nearly devoid of both domestic and international
politics
Governance functions
of the state can be divided and delegated to intergovernmental bodies
or networks dealing with specific policy issues
Nation-states
Governance is about the exercise of power to achieve political, social, and other objectives.
Shared cultural values
Shared beliefs
Common identity