Monday, 4 May 2015
This article is based on a speech delivered by the Right Honourable Paul Martin on May 4, 2015, at the Think 20 (T20) conference held in Ottawa from May 3 to 5, 2015. Jointly hosted by The Economic Policy Research Foundation of Turkey (TEPAV) and the Centre for International Governance Innovation (CIGI), the conference focuses on Turkey’s G20 agenda, with the aim to summarize the T20’s contributions in the area of monetary and financial cooperation ahead of the G20 summit in Antalya, Turkey in November 2015.
Monday, 4 May 2015
Following a meeting of the global group Think 20 (T20) held May 3-5 in Ottawa, Canada, representatives of the T20 will comment on outcomes from the meeting discussing priorities for the upcoming G20, at a press conference for media.
Thursday, 30 April 2015
The goal of the T20 (Think 20) — which is made up of think tanks, academics and researchers representing G20 countries — is to provide important research and analysis that will help strengthen the G20’s effectiveness as the premier forum for economic cooperation.
Friday, 17 April 2015
CIGI Distinguished Fellow Thomas A. Bernes considers key issues for the G20 leading into the 2015 Spring Meetings of the International Monetary Fund, including the need to enhance global economic growth and challenges in the governance of international financial organizations.
Wednesday, 15 April 2015
In a speech delivered a week ago Christine Lagarde, the Managing Director of the IMF, very subtly made the point that economic progress is not about growth as an abstract number, but rather it’s about improvement in quality of life.
Monday, 30 March 2015
This paper shows that debt flows have contractionary effects on emerging markets’ output, while equity flows have expansionary effects. Such correlations can be driven by counter-cyclical debt flows and pro-cyclical equity flows, or by debt flows that lead to an appreciation and hurt exports, and by equity flows that improve the productivity of the real economy, broadly defined.
Friday, 13 March 2015
In response to the recent global financial crisis, membership of key institutions for international standard setting, notably the Basel Committee on Banking Supervision (BCBS), expanded to include emerging countries. However, with some exceptions, official and private sector actors from these countries still exhibit low levels of engagement with international financial standard setting. This is due to a combination of related factors: an elite network of developed country regulators that continue to set the BCBS agenda; a relative paucity of regulatory knowledge and resources in emerging countries; and low mobilization by emerging country private actors on BCBS proposals. This paper recommends a series of measures to improve emerging country engagement.
Tuesday, 10 March 2015
By UNGA resolution 68/304, the Ad Hoc Committee on Sovereign Debt Restructuring Processes was established, with the task of holding three meetings and reporting proposals back to the UNGA in its 69th session. This commentary reports on the committee's first working session, held in New York City from February 3 to 5, 2015.
Tuesday, 3 March 2015
Due to the 2008-2009 global financial crisis, the Chinese government began to promote renminbi (RMB) internationalization in order to raise its international status, decrease reliance on the US dollar and advance domestic structural reform. This internationalization has achieved progress not only in cross-border trade settlement, but also in the offshore RMB markets. However, the rampant cross-border arbitrage and the relatively slow development of RMB invoicing compared to RMB settlement are becoming increasingly problematic.
Changing Global Financial Governance: International Financial Standards and Emerging Economies since the Global Financial Crisis
Friday, 27 February 2015
One of the most remarkable changes in global financial governance since the 2008-2009 crisis has been the primary forums that establish international standards extending their memberships to include emerging economies. There are two disparate perspectives in the literature on the impact of this change on international financial regulation: the weakening cooperation view, which sees an attenuation of international cooperation due to this change, and the enduring status quo view, which sees the domination of global financial governance by advanced economies persisting even despite it. This paper presents an alternative — more positive — perspective.