• World Economy and Development Finance

World Economy and Development Finance

How do we create a system of global economic governance that encourages a more sustainable economic transformation at national and international level? If we are to see a global transformation in line with the 2030 Agenda for Sustainable Development, then we need to make further adjustments to the current model of global economic governance. This is necessary for three reasons: 1) to help make economies more environmentally sustainable; 2) to develop a more equitable regulatory framework for the global economy, one which reduces economic inequality rather than further encouraging it; and 3) to reflect the growing significance of emerging economies in a multi-polar world order and thereby give greater legitimacy to the global governance system and its institutions. Researchers at the German Institute of Development and Sustainability (IDOS) are examining the role that different stakeholders and institutions, such as the World Trade Organization (WTO), (new) international financial institutions (including development banks), the G20 and the G77, play within this reordering of the global trade, investment and financial system, along with options for managing interaction between the different governance levels (multi-level approach) in a way that promotes collective action for the common good.