Martin Guzman and Joseph E. Stiglitz
FES New York – International Policy Analysis, October 2016
As authors Martin Guzman and Joseph Stiglitz show, sovereign lending markets are not working well. The current system remains fraught with perverse incentives that lead to destructive and inequitable outcomes. In September, 2015, the United Nations General Assembly approved nine principles to guide sovereign debt restructuring processes. These are: sovereignty, good faith, transparency, impartiality, sovereign immunity, legitimacy, sustainability, and majority restructuring. This timely brief analyzes the usefulness of the nine principles and discusses to what extent countries can use them as an effective tool. The brief concludes with a strategic discussion on how to move reform efforts forward.
Download the publication here.
Report launched 25 October 2016 | Workshop 3-4 June 2016
New York, N.Y.
We are pleased to share with you a new conference report from the June 2016 workshop organized by FES and New Rules to strengthen how we understand, assess and report on inequality and the role that the global financial makers in the IMF, World Bank, OECD, United Nations, G20, and Financial Stability Board can have on it. For this event, FES convened an academic- and policy-experts’ Reflection Group on Inequality to advise on how best to strengthen understanding and reporting on inequality. Far from merely recommending how to refine the use of best measures, literature and data, participants in the Reflection Group on Inequality focused on the ongoing need to engage more deeply with fundamental questions like, “What do we mean by inequality? Why do we care about it? What can we know about it?” They identified two main roadblocks: a lack of sufficient data to accurately assess inequality, especially international inequality, and political capture of international organizations by the richest and most powerful countries and of national governments by the richest and most powerful private actors.
The report summarizes the debate between leading academics, economic and financial policy experts, and representatives from global financial institutions and recommends a two-pronged way forward to assess the role of the institutions in combating or exacerbating inequalities.
New Publication – FES Perspective “Rights and Environmental Protection Following Paris and the SDGs: Towards a Stronger Role for the United Nations” by Ken Concaintern1 : September 30, 2016 11:26 am : Global Economic Governance, Global Security Governance, Publications on Global Economic Governance, Publications on Global Security Governance, Uncategorized
FES New York – Perspective, September 2016
The author Ken Conca argues that the UN’s current approach to protect the environment has run up against the structural limitations of an increasingly globalized economy. Yet successful implementation of the Paris Climate Accord and the Sustainable Development Goals will require making human rights visible again and recognizing people as rights holders, not just stakeholders. Conca recommends that policy initiatives take into account extra-territorial impacts on local communities in other countries, especially those who are most vulnerable. Moreover, the UN’s rights machinery should be deployed to protect the rights and safety of environmental defenders who challenge governments and transnational economic agents.
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Publication: “How to Achieve Sustainable Peace: The Radical Potential of Implementing UN Sustainable Development Goal 16″intern1 : July 6, 2016 10:26 am : Global Economic Governance, Global Security Governance, Publications on Global Economic Governance, Publications on Global Security Governance
FES Perspective, June 2016
The UN Sustainable Development Goal (SDG) 16 promotes peaceful and inclusive societies and endorses accountable and inclusive institutions at all levels. This Perspective offers ideas on a roadmap for implementing SDG 16 that will be relevant for this year’s UN’s High-Level Political Forum. In line with the topic for the upcoming UN discussions to leave no one behind, the author suggests focusing on the poorest and most conflict-affected countries, such as the g7+ and other least developed countries. The UN, according to the author, can support government-to-government and society-to-society collaboration, convene global partnerships and identify norm and implementation entrepreneurs.
Two background papers on the ECOSOC Dialogue on the longer-term positioning of the UN Development Systemintern1 : June 8, 2016 4:37 pm : Global Economic Governance, Publications on Global Economic Governance, Uncategorized
“UNDS Reform: Is the Glass Half Full or Half Empty?
The glass is too big”
FES New York – Meeting Report, June 2016
This report reflects upon an informal round table discussion held 19 May 2016, to which all UN Member States were invited, on “Governance and Partnerships in the Longer-term Positioning of the UN Development System”, organized by Friedrich-Ebert-Stiftung New York, hosted by the Mission of Indonesia to the UN and co-sponsored by the Mission of El Salvador to the UN. Virtually all UN Member States agree the UNDS has become fragmented and incoherent, leaving only three options: abandon the system, reform it, or go along with business as usual. The discussion focused primarily on key governance issues raised by both donor and recipient countries in the context of UNDS reform debates, and how to avoid business as usual. Recommendations: 1) A frank and open discussion of who wins and loses in proposed reforms is urgently needed ; 2) a pilot single board over UNDS, extending the model currently in place for UNDP, UNFPA and UNOPS can be created without adding new or additional mechanisms; 3) UN Member States need to engage the upcoming Quadrennial Comprehensive Policy Review (QCPR) negotiations at the highest level of representation in order to lay the groundwork for a concise and strategic QCPR in the fall of 2016.
“Partnerships and the 2030 Agenda: Time to reconsider their role in implementation”
Barbara Adams and Jens Martens of Global Policy Forum
FES New York – Background Note, May 2016
Adams and Martens argue that “Partnership” is a misleading term to cover every type of engagement between UN entities and non-State actors, in part because it promotes a false sense of equality. Lumping CSOs and corporate actors together according to their non-State status ignores the profound differences in their orientation, interests and accountability. Before considering ways to enhance the effectiveness of partnerships between UN entities and non-State actors and establishing a system-wide delivery support, more fundamental questions should be addressed. This paper poses necessary questions and offers perspectives both from the work of Global Policy Forum as well as from previous proposals on partnerships offered by some Member States.
Publication: FES Perspective – “The Contribution of the Addis Ababa Action Agenda to Agenda 2030: Toward a new era of international cooperation” by Jose Antonio Ocampointern1 : April 19, 2016 12:50 pm : Global Economic Governance, Publications on Global Economic Governance
The 2016 Financing for Development Forum faces a huge challenge to forge coherence among three flagship development agreements from 2015: the Addis Ababa Action Agenda, Agenda 2030 and the Paris Climate Change Agreement. To move these interdependent processes forward, international cooperation is needed in 1) tax evasion and avoidance, 2) countercyclical financing for the system of development banks, 3) more fair and democratic bilateral and mega-regional trade and investment agreements, and 4) systemic issues and debt. In this new publication, noted Columbia University economist José Antonio Ocampo argues that only a new era of international cooperation can adequately address these challenges.
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September 22, 2015
Open Society Foundations, New York
In recent years the world’s people have turned to protest in increasing numbers, highlighting a failure of political representation in virtually every kind of political system. This September, as the United Nations celebrates its 70th Anniversary and activists look back on the fourth Anniversary of Occupy Wall Street, the trajectory of protests and government response remains a zero-sum game, with protesters growing more alienated from those who are supposed to represent their interests, and many governments rushing to suppress protest movements as threats to peace and security rather than pursuing a middle path toward real dialogue. Is the United Nations’ Post-2015 Development Paradigm—our once-in-a-generation commitment to development—really capable of addressing the grievances driving world protests?
In this context, FES, Occupy the Media and Open Society Foundations organized this international conference to launch a Global Platform on Participation and Protest. The Global Platform hosts the interactive World Protests Tool, which builds on research behind “World Protests 2006-2013”—subsequently expanded and refined in 2014—and brings it online for public use and engagement so that demands for meaningful political participation, economic justice, human rights, and the rights of groups, minorities and the environment can be documented, analyzed by journalists, scholars, and people in movements with online data-visualization tools and space for user-generated content and forum discussion.
The conference keynote address was delivered by Amy Goodman, Host and Executive Producer for national, daily, independent, and award-winning news program, Democracy Now!.
Download conference program
Download backgrounder “Conceptualizing Protest and Conflict”
Download working paper “World Protests 2006-2013“: Executive Summaries available in English, Spanish, French, German and Russian
Sara Burke (Ed.)
FES New York – Study, July 2015
In recent years, the world has been shaken by protests demanding real democracy and justice for socioeconomic grievances. This interdisciplinary report explores how governments and institutions of global governance can better respond to contentious politics and protests. Are they expressions of aspirations, grievances and demands? Or are they conflicts to be managed and subdued? From the point of view of government and governance, protests disrupt smooth governance, requiring management by experts in conflict resolution. From the point of view of protest movements and social justice campaigns, the performance of contentious acts must be carried out by people themselves – non-experts – acting directly on their own behalf and for the transformation of their economies and societies. This state of play is a zero sum game. To go beyond it, governments need to listen to protests. Even riots should be seen first as expressions of injustice and demands for its reversal rather than as conflicts to be put down.
José Antonio Ocampo
FES International Policy Analysis, August 2014
A reform of the international monetary and financial architecture to protect against future financial crises is under way but with progress still to be made. Reforms focus on regulating financial markets, providing more room for crisis countermeasures by widening official lines of credit, intensifying the coordination of national economic policies, and establishing better structures of global economic governance. However, several shortcomings are still unresolved: these include cross-border capital flows, the absence of a process for sovereign debt restructuring, and an imbalanced global monetary system that puts one-sided obligations on struggling states that impedes their growth. Furthermore, institutional reforms like replacing the G20 with a representative Apex body for global economic coordination are critical steps in the eyes of the author.
Publication: “An Urgent Need for Clarity: On the Post-2015 Development Agenda and Financing for Development”intern1 : September 15, 2014 12:05 pm : Global Economic Governance, Publications on Global Economic Governance
FES Perspective, August 2014
In September 2015 at the UN, heads of state will lower the flag of the Millennium Development Goals (MDGs) and raise the new standard of Sustainable Development Goals (SDGs). They must also address by what means the post-2015 development agenda will be implemented. This publication examines both the opportunities that exist to advance international cooperation for development in the multiple intergovernmental negotiations taking place between August 2014 and September 2015 as well as the pitfalls that could lead to outcomes empty of commitments. In particular, the paper looks to the third International Conference on Financing for Development, to be held in Addis Ababa in July 2015, as a key forum for shaping a new development agenda that is both holistic and pragmatic.
Barbara Adams and Lou Pingeot
FES Perspective, November 2013
With the Millennium Development Goals (MDGs) expiring in 2015, the United Nations is debating a new set of goals to guide future multilateral cooperation for development at a time when overlapping global risks – from the climate, poorly regulated finance and failed human security – present unprecedented challenges to international cooperation. To finance future development, the UN system is turning more and more to the private sector for answers without reflecting on the negative results that market-led development might bring. This Perspective offers an optimistic vision for reclaiming the UN’s traditionally values-based framework and suggests that accountability needs to be at the core of development.
Isabel Ortiz, Sara Burke, Mohamed Berrada and Hernán Cortés
IPD/FES Working Paper, September 2013
This joint effort of Friedrich-Ebert-Stiftung New York office and Initiative for Policy Dialogue at Columbia University, analyzes 843 protests between January 2006 and July 2013, in 87 countries covering over 90% of world population. The paper focuses on: (i) major grievances driving world protests (ii) who is demonstrating, what protest methods they use, and who are they opposed to (iii) achievements and repression of social movements in the short term, and (iv) the main policy demands of world demonstrators. The paper finds that 1) numbers of protests are rising worldwide and 2) protests demanding “real democracy” and economic justice are coming from every kind of political system. Authors call on policy-makers to listen, whether messages are articulate or communicate only through frustration and violence.
Download “World Protests 2006-2013″
Download “Executive Summary-World Protests 2006-2013″
Download “Executive Summary-World Protests 2006-2013-French”
Download “Executive Summary-World Protests 2006-2013-Spanish”
Download “Executive Summary-World Protests 2006-2013-German”
Download “Executive Summary-World Protests 2006-2013-Russian”
FES and IPD invite distribution through websites and blogs; the executive summary and paper may be distributed without alteration with an attribution statement about the authors and their institutions and a clickable link to the original.
The Future We the People Need: Voices from New Social Movements in North Africa, Middle East, Europe & North America
Edited by Werner Puschra and Sara Burke
FES International Policy Analysis, February 2013
Many new social movements have sprung up since the financial crisis in 2008. In North Africa, the Middle East, Europe and North America they emerged out of social protests against economic austerity, inequality and political exclusion. This publication features 20 contributions, from activists and analysts in Egypt, Tunisia, Israel, Greece, Ireland, Spain, the US, Canada and Mexico, who were invited, not to look back at the protests to analyze their causes, but to critically and constructively examine the creative proposals and campaigns that have emerged from them. The motifs that come through— frustration with government for failing to address political and social exclusion, lack of faith in official political processes and actors, the belief that new social movements are sowing seeds of a more direct democracy—are common in each country and all regions. However, the theme that is emerging most strongly is that of a deep crisis in political representation. As the UN system engages in discussions to construct a future for sustainable development, what the Rio+20 outcome calls, “The Future We Want,” this publication aims to help articulate why “we the people’s” needs can and must inform the next generation of development goals.
Sustainable Development in an Unequal World: How Do We Really Get ‘The Future We Want’?
Edited by Werner Puschra and Sara Burke; Contributions by Jomo Kwame Sundaram, Michelle Bachelet, Gro Harlem Brundtland, Sharan Burrow, Ángel Gurría, H. E. Enrique Castillo Barrantes, Anthony Lake, Mary Robinson
FES International Policy Analysis, September 2012
“Is there something wrong with us as human beings that we can’t see we need a newparadigm of development?” This was a question that Mary Robinson, former President of Ireland and head of Climate Justice, posed during the Rio+20 Summit. This publication of speeches delivered at Rio+20 presents a strongly unified message from world leaders past and present that not only does environmental justice require social justice, which cannot be achieved without greater equality of income and wealth between and within countries, but even more emphatically, without serious and urgent progress toward environmental, social and economic justice, we face a growing crisis of democracy.
Toward a Global Shared Societies Agenda
Eds. Werner Puschra, Sara Burke, Clem McCartney, Aldo Caliari, Carla Fernández-Durán; Contributions from working group of experts from the Asian Development Bank, G20 Mexican Presidency, International Labour Organization, International Monetary Fund (IMF), International Trade Union Confederation, Organisation for Economic Co-operation and Development, UN Children’s Fund, UN-Department of Economic and Social Affairs, UN Development Programme, UN Regional Commissions (ECLAC and ESCWA), UN Women and World Bank.
Joint Publication (FES NY-Office, Club de Madrid, Center of Concern), June 2012
This global agenda outlines requirements for a new model of growth and social justice, aimed at promoting long-term inclusive and sustainable growth. With recommendations at the national level on public expenditure policy, taxation, monetary policy, social protection, education, health, labor market institutions, gender mainstreaming, economic decision-making, transparency, accountability, and voice and participation, and with global and regional recommendations on reforming the international monetary system, sovereign debt restructuring, international tax cooperation, and financial and macroeconomic regulation and supervision, the Global Shared Societies Agenda forms a practical action program for both national governments and global institutions to embark on a path to create Shared Societies and to develop the necessary indicators to measure and assess progress towards them.
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A Global Shared Societies Agenda: The Role of the International Monetary Fund
FES Perspective, June 2012
This paper poses timely and important questions about the social and political challenges presented by inequality and the global economic policy framework needed to support and nurture equitable development and Shared Societies. The author’s participation in the multi-year project organized by FES-New York, Club de Madrid and Center of Concern is a reflection upon which way the causality with regard to shared societies and economic vitality runs. Does the promotion of equitable and shared societies produce sustainable development and growth? Or does sustainable growth promote equity? These questions lie at the heart of political debates in many countries, but according to the author, there is increasing evidence supporting the first proposition.
Fixing Finance is not enough: The Social Consequences of Monetary and Financial Policies
Eds. Werner Puschra and Sara Burke; Contributions by Alfred Gusenbauer, Alejandro Toledo, Emmanuel Moulin, Raymond Torres, Michael Kumhof, Rogério Studart, Pablo Pereira ,Jonathan Coppel, Rishi Goyal, Y. Venugopal Reddy, José Antonio Ocampo, Ulrich Volz, Jomo Kwame Sundaram, Isabel Ortiz, and Sigrid A. M. Kaag
FES International Policy Analysis, April 2012
Commissioned in the aftermath of international social unrest including the Arab Spring, anti-austerity protest in Europe and Occupy Wall Street, the collected essays—from heads of governments and central banks, governmental advisors and experts from the United Nations, the Bretton Woods Institutions, OECD, International Labour Organization and academia—helped raise the level of debate on the role of rising income, wealth and group inequalities and the need to shape policies for a sustainable international monetary and financial system to foster cohesive and shared societies.
BRICS in Global Governance – A Progressive Force?
FES Perspective, April 2012
On the regional level the BRICS States have proven to be strong players in maintaining regional security and dealing with economic challenges. Given their increasing economic size they are also gaining influence on the international stage. This publication analyzes the role of the emerging powers with regard to the reform of the Security Council, the G20 and the international financial institutions.
Reforming the current global institutions has become a priority issue for emerging powers who want their values and visions reflected in the future world order. While the BRICS States have been able to coordinate their politics on a number of issues, for example by contributing to the global recovery plan of the G20, this political unity is lacking with regards to the SC reform, which makes the reform process even tougher. In sum, the author sees the need for a mutual and gradual adaption of the emerging powers into the system to make global governance structures more representative and effective.
Transfer Pricing Is a Financing for Development Issue
Jomo Kwame Sundaram
FES Perspective, February 2012
Transfer pricing refers to the pricing arrangements for international transactions between related parties – such as among companies that are members of multinational enterprise. How countries cooperate to ensure fair taxation behaviours by multinationals of one country in relation to another country is therefore a test of the state of international cooperation on tax matters. When the method used to determine the fair tax owed to a country by a multinational doesn’t reflect the true profits earned in that country, the country is unfairly deprived of revenue which could go toward development. This excellent publication makes the extremely complex, and therefore arcane subject of transfer pricing understandable to non-experts.
New Directions for International Financial & Monetary Policy: Reducing Inequality for Shared Societies
Eds. Werner Puschra and Sara Burke; Contributions by José Antonio Ocampo, P.J. Patterson, John Williamson, Emmanuel Moulin, Rishi Goyal, Ambassador Jorge Argüello, Jomo Kwame Sundaram, Yi Gang, Jack Boorman, Jan Kregel, Antonio de Lecea, Pablo Pereira, Kim Campbell, Samir Radwan, Ebrahim Rasool, Peter Bakvis, and Isabel Ortiz
International Policy Analysis, September 2011
In the context of a new era of debates on macroeconomic, financial and monetary policy reform, the collected essays—from former heads of governments, ambassadors, central bankers, trade unionists, governmental advisors and experts from the United Nations System—challenge prevailing thought on the relevance of social policy, social outcomes and social indicators to those debates.
Governance, Executive Compensation and Excessive Risk in the Financial Services Industry
Mark Lee Hunter
Joint publication: FES-NY Office and the Sanford C. Bernstein & Co. Center for Leadership and Ethics at Columbia Business School, Columbia University, September 2010
The financial crisis of 2008/09 brought about a wide range of domestic and international policy measures in an attempt to lessen the effects of global recession and reinforced the need for structural reforms in the banking and financial services sector that still have to be adequately addressed by governments. This publication demonstrates the need for policy coordination on a global level and shows that prudent regulation and supervision on a national level alone is not sufficient to ensure the groundwork for a sustainable growth path.
Reflections on the State of Agreement on Key Issues of Rio+20
Werner Puschra and Sara Burke (Eds.)
FES Conference Report, October 2011
This paper reflects on the results of the FES-sponsored retreat which set up an informal space and time for Permanent Representatives and experts from a number of UN missions to discuss issues related to upcoming preparations for the 2012 United Nations Conference on Sustainable Development (Rio+20).
Governance Challenges in Financing Green and Sustainable Energy Policies
Michael T. Clark
International Policy Analysis, June 2010
The outcome of the 2009 Copenhagen Summit ended with a choice between two incompatible forms of agreement: the UNFCCC’s inclusive approach—which aims for a comprehensive legal agreement based on consensus among all UN Member States—and the Copenhagen Accord’s more exclusive plurilateral approach based on voluntary commitments. The author argues that a third approach—which would have to emerge from an even broader “grand bargain”—would be necessary to unite systemic reforms for a broader sharing of commitments in global financial governance with a climate stabilization agenda.
Canadian Perspectives on Global Economic Governance and the G20
Tony Martin, Wendy Dobson, Kurt Hübner, Andrew Cooper, Andrew Jackson, Fraser Reilly-King, Roy Culpeper, Madelaine Drohan; ed. Sara Burke
International Policy Analysis, 2010
On the occasion of the fourth G20 Summit in Toronto, June 2010, this volume brings together progressive perspectives from Canadian academia, policy circles, advocacy organizations, media and parliament. The collected essays pose timely and important questions about the G20’s commitments, its legitimacy, and its future.
The G20: A Global Economic Government in the Making?
Andrew Cooper, Eric Helleiner; eds. Christoph Pohlmann, Stephan Reichert, Hubert Schillinger
International Policy Analysis, 2010
This publication asks whether the G20 has staying power and legitimacy as the new world economic governance forum. Linking an important new policy paper by Andrew Cooper and Eric Helleiner, of the Center for International Governance Innovation, with fact sheets on individual G20 countries written by experts in each of those countries, the volume offers recommendations for a meaningful continued crisis response, for a more fundamental and long-term reform of the world economic order, and towards improving the legitimacy and the performance of the G20 as a global economic governance body.
Why Should the Global Reserve System Be Reformed?
José Antonio Ocampo
FES Briefing Paper No. 1, 2010
This briefing paper by José Antonio Ocampo, former Under-Secretary-General for Economic and Social Affairs, argues that in the long run, a national currency cannot provide the basis for a stable, international monetary system. Ocampo’s briefing outlines fundamental flaws in the current dollar reserve standard, flaws that place undue burdens upon developing countries—as well as the US—and create an unstable international reserve system. This paper explores the history, alternative forms and regional strategies toward a new world reserve system.
Copenhagen 2009 : How to Finance Climate Policy
Fact Sheet, December 2009
The upcoming United Nations Climate Change Conference in Copenhagen, December 7th – 18th 2009, is an opportunity to design a new climate agreement to replace the Kyoto Protocol, which will expire in 2012. This fact sheet outlines the positions of the main countries and groupings with regards to curbing carbon emissions and sharing the financial burden.
Towards a Socially Responsible and Democratic Global Economic System : Transparency, Accountability and Governance
Christopher Rude and Sara Burke
FES Briefing Paper No. 15, 2009
Beginning in the fall of 2008 under the aegis of the first G20 leaders meeting, national governments, central banks and international financial institutions organized themselves with blinding speed to rescue the global financial system. Unfortunately, reforms to increase transparency and accountability in the governance of these same financial institutions has not proceeded at a similarly urgent pace. This paper proposes principles for strengthening these reform efforts in order to move towards a more socially responsible and democratic global economic system.
The Winding Road to Copenhagen
Fact Sheet, August 2009
Scientific knowledge shows that the effects of climate change can only be mitigated if Greenhouse Gas (GHG) emissions are drastically reduced until 2020. This insight as well as the fact that the Kyoto Protocol on the reduction of Greenhouse Gases (GHG) expires in 2012 requires immediate action by the International Community. The upcoming United Nations Climate Change Conference in Copenhagen, December 7th to 18th 2009, provides an opportunity for the world’s governments to act on reducing emissions. This Fact Sheet summarizes the most necessary steps that UN member states will have to agree on and presents the various challenges to a comprehensive agreement.
Sustainable Global Governance for the 21st Century : the United Nations Confronts Economic and Environmental Crises amidst Changing Geopolitics
Thomas G. Weiss et al.
Occasional Papers No. 45, September 2009
Time is running out for the UN to position itself to effectively manage new global challenges, such as the economic and financial crisis, climate change, and crises of food and energy. This report outlines three main recommendations: for the short term, the report recommends transforming human resource policies and providing financing for UN research; improving policy leadership by the Secretary-General during crises; and establishing an independent analytical institution. The medium term requires improving the UN’s own policy planning and research capacities and a better division of labor between the UN and other multilateral organizations. Long term goals require a major overhaul of the UN system in the form of a second UN Conference on International Organization.
Democracy Support : a Fresh Start
Richard Gowand and Sara Batmanglich
FES Briefing Paper No. 10, July 2009
Informed by discussions at an FES/Century Foundation organized international conference on the future of the democratic idea, this paper analyses the challenges of the financial crisis and shifts in global power structures – notably towards China – to democracy support. The paper concludes that the financial crisis creates openings for democracy support and recommends a three track approach to effectively use these opportunities: a direct responds to the crisis targeting particularly the economic vulnerable, specific focus on and support to young democracies and strengthening international organizations.
Re-defining the Global Economy
Editor, Sara Burke; Contributions by Joseph Stiglitz, Dean Baker, Peter Bofinger, Kemal Derviş, John Eatwell, Eric Helleiner, Stanislaw Kluza, José Antonio Ocampo, Arturo O’Connell, Prabhat Patnaik, Avinash Persaud, Tony Porter, Damon Silvers
Occasional Papers No. 42, April 2009
The global economic crisis of 2008-09 presented both serious challenges and an opportunity to explore the need for shared, international responsibility, to engage—in an ongoing way—the political governance of the global economy. Leading economist and Nobel Laureate Joseph Stiglitz introduces this publication in which FES-invited expert authors discuss three approaches to Re-Defining the Global Economy namely, necessary institutional arrangements for a just, well-governed and well-functioning financial system, the question of national or regional versus global regulation of such a system, and the necessary political and economic arrangements for securing social protections.
How to Create Better Financial Regulation & Institutions
FES Briefing Paper No. 2, March 2009
Stephany Griffith-Jones proposes comprehensiveness and counter cyclicality as key principles for financial regulation and new institutional arrangements for reforming the global financial system. On the national level, a financial products safety commission should be established, on the global level, the Bank for International Settlements should be adapted to become a regulator. Further, the author discusses options to regulate bankers’ compensation.
The Doha Declaration and Development: What are the Next Steps? : Financing for Development Doha Review Conference, 30 November – 2 December, 2008
Conference Report, December 2008
Five years after Monterrey, in 2007, the General Assembly resolved to hold a follow-up conference in implementation of the Monterrey Consensus. Although it could not have been forseen by the General Assembly at the time, the Doha Review Conference took place in the context of another financial crisis, this time global and even more serious.
The Response of the United Nations to the Global Financial Crisis
Fact Sheet, December 2008
The global financial and economic crisis emerged in the summer of 2008 and soon affected the whole world. With its origin in the United States, the crisis spread to other developed economies before it increasingly hit emerging markets and developing countries. Within a short time, both Secretary-General Ban Ki-moon as well as General Assembly President, Miguel d’Escoto Brockmann have convened a number of meetings and task forces in reaction to the crisis.
The Global Financial Crisis: What Needs to be Done?
FES Briefing Paper No. 12, 2008
This Briefing Paper reviews the causes for the current financial crisis, its effects on the world economy, and in particular the social costs for developing countries. It argues for global financial reforms that tilt the balance in favor of the democratic state over financial markets. Special attention is given to a revision of the Basel II’s Three Pillars, and the creation of comprehensive market regulation to increase transparency and reduce market risk. To relieve the immediate crisis, the paper argues for additional liquidity measures targeted at the interbank market, and fiscal stimulus packages.
The briefing paper summarizes the recommendations of a meeting of senior economic authorities hosted by Nobel Laureate Joseph Stiglitz of IPD on November 13, 2008 in New York.
A New Era of World Hunger? The Global Food Crisis Analyzed
James A. Paul and Katarina Wahlberg
FES Briefing Paper No. 7, 2008
This paper takes as a starting point an international conference, held in New York in April 2008, organized by the Friedrich-Ebert-Stiftung and the Global Policy Forum. Paul and Wahlberg consider the right to food and analyze the role of the United Nations in responding to the global food crisis. They argue for effective short-term aid and long-term transformation of the agricultural system to make it more justly distributive, resilient, and sustainable for the future.
IMF Reform from another Angle – Towards a more Responsive and Responsible Fund
Conference Report, 2008
As the IMF seems to be facing an uncertain future, the discussion about fundamental changes has gained momentum. At this conference, senior IMF officials, experts from think tanks, governments, and civil society debated the results of a series of regional caucuses on IMF reform.
Asian Perspectives on the Future Role of the IMF
Conference Report, 2008
The event brought together a unique group of policy experts from governments, international institutions, civil society and academia and integrated the policy perspectives from low- as well as from middle-income developing countries.
An Agenda for Reform of the International Monetary Fund (IMF)
Occasional Papers No. 38, January 2008
Midway between our discovery of the subprime mortgage crisis in the US (summer 2007) and the full-fledged outbreak of economic crisis and bank failures in the fall 2008, Jack Boorman, former advisor to the IMF’s Managing Director, asks, “What are the underlying factors shaking the very foundation of one of the pillars of the international financial architecture? What strategic and managerial reforms would be necessary to allow the IMF to address the most pressing challenges to economic and financial stability? And finally, what can be done within the governance structure of the Fund to make it more representative of all segments of its membership?” His insightful answers to these questions remain surprisingly relevant.
Challenges in financing for Development: Policy Issues for the Doha Conference
Conference Report, 2007
Combating Climate Change: from Kyoto to Bali
Fact Sheet, 2007
The most extensive international treaty on the reduction of greenhouse gas (GHG) emissions, the Kyoto Protocol, will expire in 2012. The international negotiations efforts for a post-Kyoto-treaty are mainly conducted within the United Nations Framework Convention on Climate Change (UNFCCC). Ahead of the United Nations Climate Change Conference, 3-14 December 2007, in Bali, Indonesia, this Fact Sheet summarizes the agreements already achieved as well as the key issues to be resolved.
Moving beyond the Privatization Debate: Different Approaches to Financing Water and Electricity in Developing Countries
Daniel Platz und Frank Schroeder
Occasional Papers No. 34, 2007
Whether or not to privatize essential services in developing countries has been subject to a long and heated controversy. Platz and Schroeder provide a new perspective and try to overcome the ideological tug of war. Rather than asking “who should provide the services”, the authors adopt a financing point of view and look at how access to basic utilities for all can be funded in a sustainable manner.
Growth with Responsibility in a Globalized World: Findings of the Shadow G-8
Joseph E. Stiglitz and Stephany Griffith-Jones
Occasional Papers No. 31, May 2007
The agenda for the G-8 Summit in 2007 in Heiligendamm emphasized the concepts: “growth and responsibility”. Taking these as its point of departure, the Shadow G-8, a diverse group of concerned citizens from around the world, including former government officials, G-8 alumni, and leading economists, was initiated and chaired by Nobel laureate economist Joseph Stiglitz. This publication explores the scope and limits of the G-8 as a political forum.
Fuentes innovadoras de financiamiento tras la Conferencia de París : el concepto avanza, pero los mayors des afìos persisten
FES Briefing Paper, 2006
Innovative Sources of Finance after the Paris Conference: the Concept is Gaining Currency but Major Challenges Remain
FES Briefing Paper, 2006
The Brasilia Conference on Innovative Financing Mechanisms: Report of the Conference in Brasilia
Conference Report, 2006
Money Laundering and Tax Havens: the Hidden Billions for Development
Conference Report/Occasional Papers, 2003
New Steps to Faster and Broader Debt Relief for Developing Countries
Jürgen Kaiser and Frank Schröder
Occasional Papers, 2002
Economic Policy in Labor Surplus Economies – Strategies for Growth and Job Creation in Southern Africa
Report on the proceedings of a Southern African conference, 2000
Finance for Development: a Dialogue with the Bretton Woods Institutions
Nancy C. Alexander, 2000
Regional Economic Integration and the Globalisation Process
Report on the proceedings of a Southern African conference, Windhoeck, 10 – 13 June, 2000
Pagination of online version is not congruent to print ed.