CIGI Commentaries consist of expert analysis of current international governance topics, written in the style of newspaper op-eds, aimed at advancing public understanding and influencing public debate.
May 4, 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.
April 29, 2015
Substantial differences in math and reading skills by parental income are already evident by the time children enter school, and persist throughout childhood into adolescence (Carneiro and Heckman 2002; Cunha et al. 2006). Studies also show that income-based differences in adolescent achievement go a long way toward explaining later differences in educational attainment and lifetime earnings (Keane and Wolpin 1997; Carneiro and Heckman 2002). Together, these findings suggest that a generation’s fate may be largely sealed by the time it enters school. If this is true, an understanding of intergenerational mobility and its implications for economic and social policy requires an answer to the vexing question: why do poor children perform so poorly?
April 20, 2015
Two recent developments in global trade point to the long–standing conundrum of regional trade agreements operating within the multilateral trade order centred at the World Trade Organization (WTO).
April 2, 2015
Ten major trends that could affect global governance in the future — from power shifts to climate change — are core to a new strategic plan for the Centre for International Governance Innovation (CIGI), suggesting where potential crises or catalysts could require a significant change in policy thinking.
March 10, 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.
January 21, 2015
The story is now well known. As central banks around the world began to converge on similar monetary policy strategies there was little thought given to the possibility that the twin goals of price stability and financial stability would come into conflict with each other. The global financial crisis of 2008-2009 changed attitudes and reminded policy makers that it is not straightforward to manage macro- and microprudential concerns simultaneously. Central bank governors began to underscore the importance of communication even before the GFC, but this event complicated central bank communication in several respects.
January 21, 2015
Over 50 students from across Canada gathered in Iqaluit, Nunavut from October 30 to November 2, 2014 for the first ever Arctic Youth Ambassador Summit. Global Vision, a national not-for-profit organization that engages young future leaders in Canada through education and hands-on experiences, organized the summit. Students had the opportunity to listen to locals, including the youth, and government officials discuss a wide variety of pressing issues concerning the North and consider different perspectives on solving the many challenges facing this beautiful and remote region, including food security and safe Arctic shipping. The summit was originally intended to focus on the three core themes mandated by the priorities of Canada’s Arctic Council Chairmanship: responsible resource development; sustainable circumpolar communities; and Arctic shipping. However, it did not take long to realize, especially after engaging with locals, that we needed to unpack these issues, and even add new ones. This commentary provides a critical overview of the key topics that emerged from the summit.
January 8, 2015
One word describes the global economy in 2014: disappointment. In October, the International Monetary Fund (IMF) cut its outlook for global growth to 3.3 percent, extending a pattern of missed forecasts that dates to 2011. The IMF foresees better days in the new year. That is possible, but the cautious optimism should not be taken for granted. The headwinds that impeded progress in 2014 are still blowing hard.
December 18, 2014
The sustainability and societal impact of the financial sector have been discussed intensively since the global financial crisis of 2007-2008. Although voluntary codes of conduct — such as the Equator Principles (EPs) for project finance, the UN Principles for Responsible Investment that focus on the sustainability of institutional investments and the UN Environment Programme (UNEP) Financial Initiative (UNEP FI), a general guideline for managing sustainability in the financial sector — have been in place for at least a decade, they were unable to point the financial sector in a sustainable direction in order to prevent the financial crisis.
November 18, 2014
There are many takeaways from the 2014 G20 summit meetings in Brisbane, Australia, but one that stands out is the battle for creating, funding and maintaining development banks that can undertake large infrastructure financing. One of the pillars of the Brisbane pact on growth and development is the G20 leaders’ nod to the importance of infrastructure and investment as the key means of attaining both the promised two percent additional GDP growth across the globe, and the goal of creating quality jobs for youth, women and the disadvantaged.