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The papers in this volume draw on background work done in preparation for the study Governance of the IMF: An Evaluation, Independent Evaluation Office, International Monetary Fund, May 28, 2008 (available at http://www.ieo-imf.org). This compilation presents in one collection the most recent work to date on the subject of governance of the IMF and contributes to the ongoing dialogue on how best to strengthen the governance of this important global institution. Good governance can contribute to the IMF’s legitimacy by ensuring appropriate voice and representation for the membership, by allowing the Fund to fulfill its mandates effectively and efficiently, and by facilitating accountability for relevant stakeholders. Three main conclusions follow from the studies in this volume. First, to strengthen its legitimacy and effectiveness, the Fund needs greater, higher level and more transparent involvement of member country authorities in its governance. Second, the Board needs to play a stronger role in strategy development and oversight, which requires a shift away from the day-to-day business of the organization. Finally, there are significant accountability gaps that need to be addressed if the IMF is to remain effective and regain legitimacy.
The study of global governance has often led separate lives within the respective camps of International Political Economy and Foucauldian Studies. Guzzini and Neumann combine these to look at an increasingly global politics with a growing number of agents, recognising the emergence of a global polity.
We explore the relationship between banking sector performance and the quality of regulation and supervision as measured by compliance with the Basel Core Principles for Effective Banking Supervision (BCP). Using BCP assessment results for 65 countries and 1998-2002 panel data for other variables, we find a significant positive impact of higher compliance with BCP on banking sector performance, as measured by nonperforming loans and net interest margin, after controlling for the level of development of the economy and the financial system and macroeconomic and structural factors.
The early twenty-first century has seen the beginning of a considerable shift in the global balance of power. Major international governance challenges can no longer be addressed without the ongoing co-operation of the large countries of the global South. Brazil, Russia, India, China, South Africa, ASEAN states, and Mexico wield great influence in the macro-economic foundations upon which rest the global political economy and institutional architecture. It remains to be seen how the size of the emerging powers translates into the ability to shape the international system to their own will. In this book, leading international relations experts examine the positions and roles of key emerging countries in the potential transformation of the G8 and the prospects for their deeper engagement in international governance. The essays consider a number of overlapping perspectives on the G8 Heiligendamm Process, a co-operation agreement that originated from the 2007 summit, and offer an in-depth look at the challenges and promises presented by the rise of the emerging powers. Co-published with the Centre for International Governance Innovation
The East African Scenarios Project aims to generate and sustain dialogue amongst key stakeholders on alternative possible futures that the East African region might have to confront in the coming decades. The project was launched in February 2005 and will run for a four-year period. Within the context of the East African regional integration process, the scenarios will be a tool that citizens, policy makers, technocrats, development partners and others working at the regional level can use to discuss core issues and ideas that will affect regional integration in the coming years. Since 1998, SID (Society for International Development), working with local partners and through its chapters in Kenya, Tanzania and Uganda, has pioneered the large-scale use of civic scenarios as a means to engage leadership to focus on alternative possible futures. Having completed the three in-country scenarios exercises, the next step is that of seeking to understand how their lessons ans key messages could be useful at a regional level. Scenarios exercises and outputs, mainly in the form of stories, explore alternative possible futures and are used by individuals, executive and leadership groups to improve their decisions. They are based on solid research and seek to combine an understanding of current trends and patterns with informed anticipation of likely events to explore possible future outcomes. The scenarios are set in the East Africa of 2030 and have been produced in an accessible format, easily readable by a wide and diverse audience.

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