“Hard [fiscal] targets lead to silly decisions,” says CIGI Senior Fellow Susan Schadler, commenting on the legacy of the debt and deficit targets the G20 laid out in 2010.
Bans on short sellers may amplify market downturns rather than enhance stability, CIGI-sponsored researchers find
Bans on short selling do not contribute to enhancing financial stability and can even amplify positive feedback trading during periods of high volatility. These are the main findings on a new paper from The Centre for International Governance Innovation (CIGI).
Looking for expert commentary on the International Monetary Fund and World Bank Group Spring Meetings? The Centre for International Governance Innovation (CIGI) will have the following experts in Washington, D.C., from April 19 to 21, and available for media interviews:
The International Monetary Fund (IMF) and Financial Stability Board’s (FSB) need significantly improved coordination to effectively identify and flag potential crises in the global economy. This is the conclusion of new policy brief from The Centre for International Governance Innovation (CIGI) and the Balsillie School of International Affairs (BSIA).
The effects of the global financial crisis continue to be felt across a spectrum of issues five years later — the short-term outlook for global growth; the need for international cooperation; the strengthening of international financial regulation; financing sustainable development; and leadership in a turbulent world.
The failure of many observers to recognize the varied scale of the G20’s efforts — from macroeconomic rebalancing to ratification of the main anticorruption treaty — has made it harder for the G20 to gain credit for the valuable role it can play.
CIGI paper offers 17 recommendations for improved governance of international financial institutions
In a new CIGI paper, Distinguished Fellow Thomas A. Bernes warns that policy makers are in danger of missing an opportunity to rectify the long-standing weaknesses in international co-operation revealed by the current global financial and economic crisis.
The current global financial and economic crisis resulted from the failure of major economies and global institutions to recognize and address, in a meaningful way, emerging fault lines in global financial markets and global institutions. The crisis brought to light long-standing weaknesses in the global system for economic and financial cooperation, providing opportunities for reform.
Domenico Lombardi, Background
Domenico Lombardi is director of CIGI's Global Economy program, overseeing the research direction of the program and related activities. He also serves as Chair of The Oxford Institute for Economic Policy, Vice Chair of New Rules for Global Finance Coalition, and sits on the advisory boards of the Bretton Woods Committee in Washington, the G20 Research Group and the G8 Research Group at the University of Toronto, and the Istituto Affari Internazionali in Rome. Mr. Lombardi is a member of the Financial Times Forum of Economists and editor of the World Economics Journal.
In the News
- An Activist or Pacifist G-7 at London Meeting?, Mark Crumpton, Bloomberg, May 10, 2013
- Sobel Plays Bad Cop to Treasury’s Lew as G-7 Debates Austerity, Ian Katz and Sandrine Rastello, Bloomberg, May 10, 2013
- A prescription for what ails France's economy, BNN, April 24, 2013
International policy makers need to break their systemic complacency toward financial crises and improve their understanding of real financial links in the global economy, says a new paper from CIGI Senior Fellow Pierre Siklos.