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Special Reports

Just Enough, Just in Time: Improving Sovereign Debt Restructuring for Creditors, Debtors and Citizens

July 15, 2015
In 2013, the IMF led a sea change in thinking about the core problem with sovereign debt restructuring: rather than seeking help too early, the Fund concluded, countries tend to wait far too long to address their sovereign debt problems, and when they do, they tackle them only superficially. In other words, sovereigns tend to restructure “too little, too late.” Structures and incentives are needed to increase the probability that “just enough, just in time” becomes the new normal of sovereign debt restructuring. To assist in moving this agenda forward, CIGI, together with the Institute for New Economic Thinking, undertook in February 2012 an intensive process of outreach and consultation with a wide range of stakeholders on prospects for improving on existing approaches to handling sovereign debt distress, with a particular focus on soliciting views regarding CIGI’s proposal for the creation of a Sovereign Debt Forum (SDF). This special report takes the measure of these discussions and concurrent developments. Rather than advocating for a particular set of reforms or a single path of action, the report reviews the diverse perspectives raised in CIGI’s SDF consultations, highlights considerations for the next steps in the reform process and identifies some pathways by which pragmatic reform programs could be crafted.

The New Innovator's Commercialization Dilemma

April 29, 2015
A Report on the CIGI International Intellectual Property Law Clinic
This report outlines the impetus behind the CIGI International Intellectual Property Law Clinic, which operated for three months in 2014. The report describes the new innovator’s commercialization dilemma — a multifaceted dilemma arising from lack of IP legal knowledge, lack of financial resources and the high costs associated with IP protection, all of which combine to place the new innovator in a vulnerable position at the early stages of their commercialization timeline. Taking lessons learned from the CIGI clinic, the report illustrates how an IP-focused law clinic can help to address the commercialization dilemma.

Toward a Social Compact for Digital Privacy and Security

April 15, 2015
Statement by the Global Commission on Internet Governance
Global Commission on Internet Governance
This statement provides the Global Commission on Internet Governance’s view of the issues at stake and describes in greater detail the core elements that are essential to achieving a social compact for digital privacy and security.

Submission to Ontario’s Climate Change Discussion Paper 2015

April 14, 2015
The International Law Research Program (ILRP) of the Centre for International Governance Innovation (CIGI) responds to select questions from Ontario's Climate Change Discussion Paper 2015, as part of a province-wide public consultation process by the Ministry of the Environment and Climate Change.

The Internationalization of Indigenous Rights: UNDRIP in the Canadian Context

December 4, 2014
Edited by: Terry Mitchell
This special report is comprised of 11 papers, which provide reflections on the internationalization of indigenous rights and the relevance and positioning of UNDRIP within and by Canada. The papers were written by indigenous and non-indigenous scholars from a variety of disciplines including history, political science, law, psychology, sociology and Native studies. Contributors discuss the historical importance of the declaration and the conflicted nature of Canada’s relationship to it. 

China's Engagement with an Evolving International Monetary System: A Payments Perspective

September 25, 2014
Paul Jenkins, Thomas A. Bernes, Perry Mehrling, and Daniel H. Neilson
The core of this report, co-published by CIGI and the Institute for New Economic Thinking, is to lay out in practical terms the critical issues China must consider in managing its engagement with the evolving IMS. There are both opportunities and pitfalls, and the hope is that the payments approach used will highlight why, and how, China and the IMS should “talk to one another.” This must be a two-way dialogue. While the pace, direction and ultimate goals of reform are for the Chinese to decide, what they decide will have implications going both ways — for them and for the functioning of the IMS. Avenues must be found to discuss and assess these implications from a system-wide, cooperative perspective.

CIGI Essays on International Finance: Volume 2 — International Finance: Can the System Be Saved?

September 8, 2014
The world economy showed remarkably strong and widespread growth throughout most of the second half of the twentieth century. The continuation of that success, however, has been undercut by financial instability and crisis. Weak and uncoordinated macroeconomic policies, inappropriate exchange rate policies, inherently volatile private markets for international capital flows, and weak regulation and oversight of highly risky investments have all played a part. To regain the financial stability that must underpin a renewal of global economic strength will require improvements in both policy making and the structure of the international financial system.

Facing West, Facing North: Canada and Australia in East Asia

February 19, 2014
Leonard Edwards and Peter Jennings
Canada and Australia have shared interests in bolstering economic prosperity and security cooperation across East Asia. The focus of the world economy has shifted to Asia; Canada should follow the path Australia has taken for decades and orient itself — in economic and security terms — toward the emerging economies of East Asia.

CIGI Essays on International Finance — Volume 1: International Cooperation and Central Banks

October 9, 2013
The inaugural volume in the series, written by Harold James, discusses the purposes and functions of central banks, how they have changed dramatically over the years and the importance of central bank cooperation in dealing with international crises.

Priorities for the G20: The St. Petersburg Summit and Beyond

August 15, 2013
On September 5-6, 2013, leaders of the world's major advanced and emerging economies will meet in St. Petersburg, Russia for the G20 summit, with a focus on developing policies aimed at improving sustainable, inclusive and balanced growth, and jobs creation around the world. In this special report, CIGI experts present their perspectives and policy analysis on the key priorities facing the G20 at St. Petersburg, including macroeconomic cooperation, sovereign debt management systems and stimulating international development.
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