Strengthening the IMF for the 21st Century
(Oxford University Press, 2024)
The International Monetary Fund (IMF) came into being at the United Nations (UN) Monetary and Financial Conference in 1944 and, over time, it has become one of the more influential organizations that emerged in response to the economic consequences of the Great Depression and the Second World War. Over the past three-quarters of a century, it has played a prominent role in financial crisis management in many parts of the world and, by virtue of its resources, the high degree of integration of the global economy and its financial markets it has often found itself at the center of global responses to external shocks to our economic and financial system.
This chapter examines the role of the International Monetary Fund (IMF) in the context of important structural shifts in the global economy, including the emergence of China as the world’s largest economy and the changing dynamics of international trade. It addresses the challenges posed by fiscal pressures, population aging, rising debt levels, and the need for financing the transition to a global renewable energy economy. The chapter explores governance issues, such as voting powers and lending capacity, and proposes measures to improve the IMF’s effectiveness in crisis prevention and resolution. It also highlights the need to enhance the IMF’s surveillance function to address the systemic risks posed by bigger and richer countries.[pdf]
Global Governance and International Cooperation: Managing Global Catatrophic Risks in the 21st Century
(Routledge, 2024)
The Global Governance Forum and the Global Challenges Foundation collaborate in this collection in their concern that the UN Charter and the contemporary infrastructure for international cooperation are no longer fit for purpose and lack the instruments, resources and legitimacy to address the catastrophic risks threatening our future.
Twenty-eight contributors offer thoughtful proposals for reforming existing international institutions and creating new ones to build a more peaceful, prosperous and just world, covering themes such as the management of weapons of mass destruction, collective security arrangements, justice and equity in economics, human rights, migration and refugees, climate mitigation, and food security, all bearing on the health of both people and planet.
The vital project of this century is building institutions that will underpin global governance in coming decades, requiring imagination, persistence, empathy, and confidence that we will find a path to enhanced mechanisms of binding international law and the resources to make that happen. The volume is essential reading for scholars and researchers on international politics and public policy and indispensable for diplomats and government agencies.
Praise for Global Governance and International Cooperation: Managing Global Catastrophic Risks in the 21st Century
“In this book, more than a score of highly regarded scholars from around the world take major strides toward raising readers’ consciousness about the catastrophic consequences that await every nation for as long as international relations continue to be governed mainly through the militarily competitive balance of power system made up of irresponsibly independent states. They show that although governments pretend to be separate and sovereign, they are in fact deeply interdependent and unable to solve any major global problem while acting separately. These authors jump start the overdue conversation required for reforming international institutions and expanding global governance enough to avert rolling catastrophes for humanity. Filled with profound normative wisdom, astute theoretical analysis of structural problems, and penetrating empirical evidence of what is required for human security and dignity, this collection is must reading for every person hoping to stand effectively against global injustice and for human survival.”
Robert C. Johansen, Professor Emeritus of Political Science and Peace Studies Keough School of Global Affairs University of Notre Dame.
“Amid the many books diagnosing the extent and severity of looming global threats and the inadequacy of current global institutions to meet them, Global Governance and International Cooperation stands out for the quality of its contributors, the depth of knowledge they bring to bear on their subjects, and a welcome focus on practical solutions.”
Anne-Marie Slaughter, CEO, New America Professor Emerita of Politics and International Affairs, Princeton University.
“Humanity finds itself at a pivotal crossroads. The trajectory we choose to follow will determine either a future marred by violence and catastrophic disintegration, or one characterized by global peace and prosperity. The authors’ vision, far from being a distant and unrealistic aspiration, emerges as an urgent imperative given the present landscape of global affairs and insufficiency of the current global governance architecture to effectively manage it. The critical need to overhaul this flawed architecture must be recognized and addressed by all who are invested in the well-being and survival of our shared global community. Within this context, the significance of this book becomes even more pronounced, offering a commendable and essential addition to this important dialogue. The ideas presented throughout illuminate the possibility of a more secure and prosperous future for all – one that is well within reach if only we have the courage and will to attain it.”
Payam Akhavan LLM SJD (Harvard) OOnt FRSC, Massey Chair in Human Rights, University of Toronto, Member of the Permanent Court of Arbitration.
“Identifying climate change and nuclear war as the biggest threats to human survival isn’t exactly new. But Richard Falk and Augusto Lopez-Claros have recast parts of that canon in their remarkable new book. They include poverty and inequality within the global crisis, and their focus is less on the problems than on international solutions. Drawing on a wide-ranging gallery of activists and experts, their far-reaching collection critically interrogates existing transnational structures both in and outside the United Nations and proposes a host of innovative ideas. They survey methods of worldwide democratic engagement, link global disarmament with both people’s security and environmental sustainability, imagine planetary systems that instrumentalize human rights. A huge contribution to today’s urgent search for global answers.”
Phyllis Bennis, Respected author and journalist, Director of the New Internationalism Project at the Institute for Policy Studies.
“The peace of the world is more imperiled today than at any time in the last forty years. Fortunately, Richard Falk and Augusto Lopez-Claros have assembled talented contributors to analyze how international institutions and instruments may now be refashioned to meet the very real challenges of our troubled era: Richard Goldstone on the ICC, Thomas Weiss on R2P, Philippa Webb on the ICJ, Joshua Lincoln on Global Warming, and Hilal Elver on Global Food Systems are but a few of the telling essays in this timely and valuable volume.”
Robert I. Rotberg, Harvard Kennedy School, Founding Director of the Harvard Kennedy School’s Program on Intrastate Conflict, President Emeritus of the World Peace Foundation.
“Global Governance and International Cooperation, coedited by Richard Falk and Augusto Lopez-Claros, brings together contributions by some of the most eminent scholars about the major crises facing the world in the 21st century. Proliferation of weapons of mass destruction, wars, climate change, pandemics, and fragility of the global economic system threaten our existence. As such, the book is an unambiguous reminder to all who care for the future of humanity that the system of global governance since the Second World War has proved weak in important respects. It requires a higher, more enlightened level of international cooperation instead of overemphasis on the exercise of power by some. Contributors to this exceptional work have an unmistakable message that, unless both major and minor entities start a new era of cooperation and reform international institutions, the world faces catastrophic risks.”
Deepak Tripathi, Fellow of the Royal Historical Society.
“How to save the world? Start by reading this book. The world is dying and we have been killing it. If we don’t change, the world will die of the cumulation of its crises. Its death is as yet avoidable. A fatal lunacy is that vastly more wealth and effort are spent on things that would kill the world and humanity with it, than on what might save both. This book is a modest yet ambitious corrective. It is a book of heart and head. The heart drives the search for solutions, the head creates them. Think globally, act locally, is a cliché. What is it to think globally? How does one think globally? How does one ‘think through’ globally? How does one think and feel at the same time? It is part manifesto of ideas, part policy dossier covering almost every aspect of the world order in crisis. It is critical and constructive. It not merely diagnoses and prognosticates, it prescribes. This book presents a total strategy to save the world in the twin senses of the planet and humanity. It should be read by every head of state and foreign minister of the member states of the United Nations.”
Dr. Dayan Jayatilleka, Prominent Sri Lanka diplomat and journalist.
“This book is a collection of the very best attempts to build a world order based on peace, cooperation, and respect for human rights. Each essay inspires a daring, but realistic, transformation in our thinking. No doubt, some will say that the proposals are far ahead of current international relations, but the contributors should be congratulated for successfully showing that there are, in fact, workable alternatives to current geopolitical thinking and practice. ”
Daniele Archibugi, Director, Italian National Research Council, Rome, Professor,. University of London, Birkbeck College
Financing Instruments for Climate Change Mitigation and Adaptation
There is broad recognition that current national emission targets are not consistent with limiting a temperature rise to 2◦C above pre-industrial levels. Indeed, it is estimated that annual global emissions need to drop by about 3 percent between now and 2030 to limit warming to this two-degree threshold. Absent mitigation of GHG emissions, global temperatures will be on a rapidly ascending trajectory through the end of this century. Given the associated damage to the global economy and its supporting ecosystems and to the natural world more generally there has been increasing emphasis in recent years in identifying policies that might facilitate climate change mitigation and adaptation. One particular area of focus has been on the financing needs associated with significant investments in various forms of infrastructure, including investments in energy efficiency and renewable energy.[pdf]
The Gender Equality and Governance Index: Empowering Women for the Prosperity of Nations
Gender inequality has myriad faces: archaic laws that codify sexism, male control of joint income and household assets, exclusion from governance, trafficking and violence against women, denial of education and adequate health care, and gender segregation in the work force, to name a few. The scope of inequality is vast and its costs to society are mounting.
COVID-19 has prompted new awareness around this topic, as the effects of the pandemic have exacerbated existing gender inequalities and revealed the importance of female inclusion in governance and decision-making. The evidence linking gender equality to economic and social well-being and prosperity is clear. Now more than ever, we must prioritize the role of women in fostering communities’ and countries’ well-being and economic health by developing policies that guard against gender discrimination. [pdf]
Global Governance and the Emergence of Global Institutions for the 21st Century
(Cambridge University Press, 2020)
Praise for Global Governance and the Emergence of Global Institutions for the 21st Century
“Global Governance is a book of exceptional breadth and vision, written for an unprecedented period in the historical evolution of humankind. Defying the cynicism and myopia that often define the political culture of our times, it dares to state the obvious truth that global interdependence is an inescapable reality, and that far from naïve idealism, building effective global institutions in the 21st century is a matter of survival for our species.”
Payam Akhavan, Professor of International Law, McGill University, Montreal, Canada
“Lopez-Claros, Dahl and Groff propose radical reforms to the charter that authorizes and rules the United Nations, and other methods of improving the current muddled state of global governance. Their case is persuasive. This book’s trenchant analysis of what ails the running of the globe should be read by policymakers everywhere, and certainly by those many citizens who concern themselves with fostering a better and more functional world. Change comes slowly, but this book is a prodding catalyst.”
Robert I. Rotberg, Harvard Kennedy School, author of On Governance
“The bold idealism championed by Lopez-Claros, Dahl and Groff is just what the planet needs, with not a moment to lose if we are to halt and reverse the trajectory of imminent disaster on which we have set ourselves. As a former Ambassador to the United Nations with first-hand experience on the UN Security Council, I applaud the vision laid out for transformational change grounded in past institutional experience.”
Amanda Ellis, Executive Director Hawaii & Asia-Pacific Arizona State University, Julie Ann Wrigley Global Institute of Sustainability
“In this outstanding volume, Lopez-Claros, Dahl and Groff document the existential challenges facing our global institutions, from environmental decline and the failure of existing international security mechanisms to mass population flows and the crisis of sovereignty and civil society engagement. The resulting landscape might seem hopeless and overwhelming, if not for the authors’ innovative, wide-ranging and thought-provoking recommendations for reshaping existing institutions to expand their relevance and effectiveness. Their ideas for updating our decades old structures include creating an international peace force, ratifying a United Nations Bill of Rights, reforming the U.N. Security Council and International Monetary Fund, establishing a civil society chamber, and beyond. Readers may not endorse every one of their suggestions, but they are invited into a fascinating game of “what if” and “why not?” It is an invitation that should not be missed.”
Ambassador Donald Steinberg, Senior Advisor, Center for Strategic and International Studies
“This volume makes a powerful call for action to transform the international institutions that govern human affairs. Grounded in rigorous historical exploration, it offers a vision for collective courage to change what we can and reimagine what we consider outmoded and inadequate. This is the blueprint for a new global architecture.”
Maria Ivanova, Associate Professor of Global Governance and Director of Center for Governance and Sustainability, University of Massachusetts Boston
“This path-breaking work provides important insights for practitioners and scholars struggling to understand the economic, political, and scientific forces roiling the world. As humanity seeks ways, well beyond the traditional controls available to individual nation states, to manage problems which pose enormous risks as well as rich opportunities, this book points in promising directions.”
Dan Sarooshi QC, Professor of Public International Law, Faculty of Law and the Queen’s College, University of Oxford; and Essex Court Chambers, London
Equality for Women = Prosperity for All
Gender discrimination is often seen from a human rights perspective; it is a violation of women’s basic human rights, as embedded in the Universal Declaration, the UN Charter and other such founding documents. More recently we have also come to realize that gender discrimination has no basis on any credible system of moral and ethical principles and philosophy and that it undermines human prosperity and equity. It is a terrible foundation for allocating resources and creating wealth and opportunity. Why is gender inequality so pervasive? Where does it come from? Does it have cultural and religious roots? Has the world paid a heavy price over the past several hundred years for the overwhelming domination by men of government and the political process? Is gender equality a prerequisite for a more peaceful world? And what are the sorts of policies and values that will deliver a world in which being born a boy or a girl is no longer a measure of the likelihood of developing one’s human potential? A look at some of these and other such difficult questions.
Praise for Equality for Women = Prosperity for All
“The authors of Equality for Women=Prosperity for All expose the economic wastefulness of gender inequity.” “This is an ideal book for policymakers who need to understand the broader picture of gender inequality and its impact. The authors use clear and expressive language, peppering the text with examples and cases from around the world. For individuals who may not have experience applying a gender lens to development issues, this book provides insights into the many ways that the oppression of women is tied to economic stagnation and too often shielded from policy interventions by arguments of national or cultural sovereignty.”
– Excerpted from Domesticity’s Gross Product, a review published in the Stanford Social Innovation Review.
Alyson Colón, Associate Director at the Institute for Gender and the Economy (GATE)
Rotman School of Management, University of Toronto.
“A compelling and often disturbing read by two authors well read in other social sciences, religion and history – and with a fluid command of the pen. The chapter on violence against women is gripping and disturbing, its commonality amply documented. Do not overlook the chapter on culture, with its argument that incentives are what matter, and its thorough rejection of doctrinal beliefs as legitimate “cultural” traditions – a message for the Taliban and the Pope as well.”
Nancy Birdsall, founding President of the Center for Global Development and former executive vice-president of the Inter-American Development Bank
“Based on solid research and current data, the authors speak to the hearts as well as minds to all readers who are determined to find an antidote against this virus and bring an end to an egregious breach of human rights.”
Maud de Boer Buquicchio, UN Special Rapporteur on the sale and sexual exploitation of children, Former Deputy Secretary General of the Council of Europe
“The authors of Equality for Women=Prosperity for All offer a refreshing look at gender inequality, a subject rendered all the more painful for being both entrenched in society and exhausted by analysis over the past decades. Their unique combination of economics and literature, of a deep commitment to feminism and an extensive grasp of global politics succeeds in looking at gender relations from an unconventional perspective, and in a language that is exceptionally transparent.”
Prof. Ruth Halperin-Kaddari, Chair The Ruth and Emanuel Rackman Center for the Advancement of the Status of Women Faculty of Law, Bar-Ilan University, Israel Vice-President: UN CEDAW Experts Committee
“The authors of Equality for Women = Prosperity for All provide fresh insights into a systemic problem expected to have been solved many years ago. Yet gender inequality remains pervasive, despite economic arguments that prove it inefficient. This is a wonderfully compelling book, combining as it does a breadth and depth of relevant statistical data with unique insights and stories that bring the subject matter to life. Beautifully written – I literally couldn’t put it down!”
Amanda Ellis, New Zealand Ambassador, Geneva, Switzerland
“Equality for Women = Prosperity for All is a captivating read. It shines a spotlight on the discrimination and injustice that keep women and girls in the shadows of society; it shows the links between gender stereotyping and oppression, between domestic violence and political instability. It highlights how the costs of gender inequality are borne not only by the individual but by society as a whole.”
Veronika Bard, Swedish Ambassador, Geneva, Switzerland
“Lopez-Claros and Nakhjavani’s book Equality for Women is not only timely but profoundly important: its clarity and accessibility clearly sets out the reasons we simply cannot afford gender inequality to continue – at any level or on any analysis. The book’s wide-ranging subjects convincingly make the case that gender inequality has and continues to cost the world too much: from the pandemic of violence against women and girls to religious and cultural totalitarianism, Equality for Women provides statistics and examples from every corner of the globe, it is truly a tour de force for anyone, not just scholars in the field, and a must-read.”
Jackie Jones, Professor of Feminist Legal Studies, Department of Law
University of the West of England, Bristol, UK
“This book on the economic dimensions of gender inequality is full of insights on different cultures, on their selectivity in relation to women’s rights and on the terrible consequences of gender inequality which result across the world. It is a thought-provoking analysis of how such inequality impacts every aspect of politics and society, whether at home, in the workplace, within particular countries or internationally.”
Rt Hon Baroness Lindsay Northover, Member of the House of Lords, Former Minister in the Department for International Development, UK
Selected Papers
- Global Financial Architecture and the International Monetary Fund
(Chapter 15 in Global Governance and the Emergence of Global Institutions for the 21st Century, Cambridge University Press, 2020)
- The Moral Dimension of the Fight Against Corruption
(The Georgetown Journal of International Affairs, Summer/Fall 2017)
- Removing Impediments to Sustainable Economic Development: The Case of Corruption
(Journal of International Commerce, Economics and Policy, January 2015)
- Does Culture Matter for Development?
(Policy Research Working Paper, The World Bank, November 2014)
- Fiscal Challenges After the Global Financial Crisis: A Survey of Key Issues
(Journal of International Commerce, Economics and Policy, May 2014)
- The Innovation Capacity Index: Factors, Policies, and Institutions Driving Country Innovation
(Chapter 1 in The Innovation for Development Report: 2009-2010, Palgrave Macmillan, 2009)
- Women’s Empowerment: Measuring the Global Gender Gap
(World Economic Forum and Harvard Business Review, 2005)
Below are links to selected papers published in various textbooks, journals, and reports.
- “Economics: The Prosperity of the World and the Development of Nations”, in The World of the Baha’i Faith, edited by Robert H. Stockman, Routledge, 2022, p. 305-318. [pdf]
- “Absent laws and missing women: Can domestic violence legislation reduce female mortality?”, with Mohammad Amin and Asif Islam, Review of Development Economics, 2021, p. 1-30. [pdf]
- “The Gender Equality and Governance Index: Empowering Women for the Prosperity of Nations”, with Amanda Ellis and Ruth Halperin-Kaddari, Global Governance Forum, 2020. [pdf]
- Why Gender Equality is not a Zero-Sum Game Implying Loss for Men – The Comparative Jurist, May 14, 2020 [online] [pdf (English)] [pdf (Español)].
- Respuesta al coronavirus: prioridades y cómo prepararnos para el futuro – Esglobal, May 4, 2020 [online] [pdf (Español)][pdf (English)].
- Global Financial Architecture and the International Monetary Fund (Chapter 15 in Global Governance and the Emergence of Global Institutions for the 21st Century, Cambridge University Press, 2020) – [pdf].
- “Equality for Women = Prosperity for All” (book co-authored by Augusto Lopez-Claros & Bahiyyih Nakhjavani; St. Martin’s Press, 2018) – [pdf].
- On the Integrity of the “Ease of Doing Business” Indicators, June 18, 2018. – [pdf]
- Global Governance and the Emergence of Global Institutions in the 21st Century (with Arthur L. Dahl and Maja Groff) (Background paper for the Global Challenges Foundation Competition where the authors were recipients of the New Shape Prize, Stockholm, Sweden, May 29, 2018) – [pdf] and online
- Reply to The Wall Street Journal article, January 13, 2018 – [pdf].
- The Moral Dimension of the Fight Against Corruption”, Georgetown Journal of International Affairs, Volume 18, Number 2, Summer/Fall 2017, 33-40. – [pdf]
- Absent Laws and Missing Women: Can Domestic Violence Legislation Reduce Female Mortality? (with Muhammad Amin & Asif Islam) (World Bank Group Policy Research Working Paper, April 2016) – [pdf]
- Removing Impediments to Sustainable Economic Development: The Case of Corruption (Journal of International Commerce, Economics and Policy, 7 January 2015) – [pdf]
- Does Culture Matter for Development? (with Valeria Perotti) (Policy Research Working Paper 7092, Global Indicators Group, World Bank, November 2014) – Link: [pdf]
- Fiscal Challenges After the Global Financial Crisis: A Survey of Key Issues (Journal of International Commerce, Economics and Policy, 23 May 2014) – [pdf]
- Fiscal Challenges After the Global Financial Crisis: A Survey of Key Issues (17 March 2014) – Link: [pdf]
- Removing Impediments to Sustainable Economic Development: The Case of Corruption (1 November 2013) – Link: [pdf]
- Policies and Institutions Underpinning Country Innovation: Results from the Innovation Capacity Index (with Yasmina N. Mata) (in The Innovation for Development Report 2010–2011, Palgrave Macmillan, 2010) – [pdf]
- The Cornerstones of Competitiveness: A Vision for the Americas to 2020 (Discussion Paper prepared for the Annual Meeting of the Red Interamericana de Competitividad Atlanta, Georgia, November 14-16, 2010) – [pdf]
- The Innovation Capacity Index: Factors, Policies, and Institutions Driving Country Innovation (with Yasmina N. Mata) (in The Innovation for Development Report 2009–2010, Palgrave Macmillan, 2009) – [pdf]
- Why Diversity in the Marketplace Matters (BreakThru Magazine, March/April 2008) – [pdf]
- The Humanitarian Response Index 2007: Measuring Commitment to Best Practice (with Laura Altinger and Silvia Hidalgo) (Palgrave Macmillan, 2007*) – [pdf]
- An Interview with Richard N. Cooper and Kenneth Rogoff: The US Current Account Deficit and Its Global Ramifications (in The Global Competitiveness Report 2006-2007, World Economic Forum, Palgrave Macmillan, 2006*) – [pdf]
- The Global Competitiveness Index: Identifying the Key Elements of Sustainable Growth (with Laura Altinger, Jennifer Blanke, Margareta Drzeniek, and Irene Mia) (in The Global Competitiveness Report 2006-2007, World Economic Forum, Palgrave Macmillan, 2006*) – [pdf]
- The Impact of Information and Communication Technologies on the Economic Competitiveness and Social Development of Taiwan (with Arthur L. Dahl) (in The Global Information Technology Report 2005-2006, World Economic Forum, Palgrave Macmillan, 2006*) – [pdf]
- Israel: Factors in the Emergence of an ICT Powerhouse (with Irene Mia) (in The Global Information Technology Report 2005-2006, World Economic Forum, Palgrave Macmillan, 2006*) – [pdf]
- Russia: Competitiveness, Growth and the Next Stage of Development (in The Global Competitiveness Report 2005-2006, World Economic Forum, Palgrave Macmillan, 2005*) – [pdf]
Russian translation by Vladimir Chupin: [pdf (Russian)] - Women’s Empowerment: Measuring the Global Gender Gap (with Saadia Zahidi, World Economic Forum, 2005) – [pdf]
- Chile: The Next Stage of Development (in The Global Competitiveness Report 2004-2005, World Economic Forum, Palgrave Macmillan, 2004*) – [pdf]
- Varieties of Economic Experience in the Developing World (in The Global Competitiveness Report 2003-2004, World Economic Forum, Oxford University Press, 2004) – [pdf]
- The Role of International Financial Organizations During the Transition in Russia (in Social Capital and Social Cohesion in Post-Soviet Russia, J.L. Twigg and K. Schecter, editors, 2003, M.E. Sharpe) – [pdf (A4)] [pdf (Letter)]
- Economic Reforms: Steady As She Goes – A Decade of Russian Economic Reforms (with Mikhail M. Zadornov) (in The Washington Quarterly, Winter 2002. Volume 25, Number 1) – [pdf]
- Turkey: Regaining Credibility In Economic Policy (in Global Economic Research Series, 23 May 2000, Lehman Brothers) – [pdf]
- Israel: Poised for Take-Off? (in Global Economic Research Series, 12 October 1999, Lehman Brothers) – [pdf]
- The Baltic Countries: From Economic Stabilization to EU Accession (with Julian Berengaut, Françoise Le Gall, Jerald Alan Schiff, Dennis Jones, Richard E. Stern, Kerstin Westin, L. Effie Psalida, and Pietro Garibaldi) (Occasional Paper 173, International Monetary Fund, 25 November 1998) [Order from IMF here]
- Fiscal Policy Issues During the Transition in Russia (with Sergei V. Alexashenko) (Occasional Paper 155, International Monetary Fund, March 1998) – [pdf]
- The Fund’s Role in Russia (19 June 1996) – [pdf (A4)] [pdf (Letter)]
- Interdependence, Cooperation, and the Emergence of Global Institutions (in World Order, Summer 1996) – [Html] [pdf (A4)] [pdf (Letter)]
- Implications of European Economic Integration (in World Order, Winter 1995-96) – [pdf]
- The Search for Efficiency in the Adjustment Process: Spain in the 1980s (Occasional Paper 57, International Monetary Fund, March 1988) – [pdf]
- The European Community: On the Road to Integration (in Finance & Development, quarterly publication of the International Monetary Fund and the World Bank, September 1987) – [pdf]
Doing Business
Getting Easier Around the World
Toward Gender Equality
- Women’s Empowerment: Measuring the Global Gender Gap (with Saadia Zahidi, World Economic Forum, 2005) – [pdf]
- United Nations Commission on the Status of Women: Financing for Gender Equality–High Level Round Table (52nd Session, 25 February 2008) – [pdf]
- United Nations Commission on the Status of Women: Financing for Gender Equality–The Empowerment of Women (52nd Session, 28 February 2008) – [pdf]
World Economic Forum Competitiveness Reports & Reviews
The Humanitarian Response Index
In 2003, the international donor community resolved to strengthen its response to humanitarian crises and undertook to enhance effectiveness, efficiency and accountability of their humanitarian action by endorsing the Stockholm Principles and Good Practice of Humanitarian Donorship. These spell out the principles that should guide humanitarian action, namely humanity, impartiality, neutrality and independence, as well as those imbedded in the body of international human rights and humanitarian law. Since then, there has been considerable interest within the donor community in indicators that can track progress towards the Stockholm Principles. Three years ago the Good Humanitarian Donorship’s informal Implementation Group began work to develop a set of indicators that could monitor how donors are collectively delivering against some of their commitments. While this process is encouraging, the lack of comprehensive impact indicators for measuring individual donor performance continues to be identified by the donor community as an outstanding challenge.
As an independent, not-for-profit organization, DARA has embarked on creating its Humanitarian Response Index (HRI) that will measure how well individual donors and adherents to the Stockholm Principles are living up to their commitments. The HRI is intended to help the international humanitarian donor community to better understand its strengths and weaknesses in order, ultimately, to improve its ability to alleviate human suffering in crisis situations through improved humanitarian aid delivery.
An international benchmarking mechanism such as the HRI would be an effective instrument to complement the voluntary and non-binding commitment donors have made to the GHD Principles. Other policy areas, such as the environment, have seen greatly improved policy outcomes coinciding with the introduction of benchmarking which has contributed to improve efficiency and correct deficiencies in the policy framework through public and peer pressure. The first edition of the HRI is published by Palgrave Macmillan and was formally launched at the Royal Society of Arts in London on 29 November 2007. Augusto Lopez-Claros is co-editor of the Report.
- The Humanitarian Response Index 2007: Measuring Commitment to Best Practice (with Laura Altinger and Silvia Hidalgo) (Palgrave Macmillan, 2007) – [pdf]
- The Humanitarian Response Index 2007 (presentation notes of Augusto Lopez-Claros at the public launch of the Report, Royal Society of Arts, London, 29 November 2007) – [pdf]
- US, Japan and France Poor at Giving (Financial Times, 30 November 2007) – [pdf]
- Tras Una Ayuda Humanitaria Más Eficaz (El Mundo, Madrid, 1 December 2007) – [pdf]
- La Ayuda Fracasa, pero África Despega (El País, Madrid, 3 December 2007) – [pdf]
International Monetary Convention Project
The Asian financial crises in the late 1990s, the Russian meltdown in the summer of 1998, and the collapse in Argentina and Turkey earlier this decade raise fundamental questions about the resilience of the international financial system and its ability to cope with the next crash. Does the international economy have the appropriate institutions and institutional mechanisms in place to deal with emerging crises? What are the benefits and costs of our present approach to crises management, which involves a considerable degree of improvisation and ad-hoc approaches, and can a case be made for the introduction of more formal arrangements? Could the IMF become a lender of last resort for the global economy and, if not, what are some of the reforms that might make it a more effective crisis manager? There may well be greater consensus today that the international financial system needs to be reformed, but there remain profound disagreements among policy makers and the private sector about how far and deep the reforms should go.
To examine these and related questions, the World Economic Forum and the Reinventing Bretton Woods Committee, in co-operation with selected finance ministries and central banks of G-20 countries, organized during 2004-2006 a series of public-private roundtables on the future of the international monetary system. The International Monetary Convention Project (IMCP) sought to provide input into the deliberations of policy-makers by convening them for informal sessions with some of the world’s leading private sector and academic authorities. Some of these roundtables were organized around G-20 meetings, in cooperation with the host government. Each roundtable was supported by research papers written by prominent academics, officials and private sector participants. The book The International Monetary System, the IMF, and the G-20, edited by Richard Samans, Marc Uzan and Augusto Lopez-Claros and published by Palgrave Macmillan in early 2007 is the fruit of those efforts. Below we include summaries of some of the roundtables, covering a representative sample of the central issues debated.
- Sixty Years After Bretton Woods: Developing a Vision for the Future (Summary) (Rome, Italy, July 2004) – [pdf (A4)] [pdf (Letter)]
- IMF’s Role in Emerging Markets: Reassessing the Adequacy of its Resources and Lending Facilities (Summary) (Amsterdam, Netherlands, November 2004) – [Html] [pdf (A4)] [pdf (Letter)]
- International Economic Cooperation for a Balanced World Economy (Summary)(Chongqing, China, March 2005) – [pdf (A4)] [pdf (Letter)]
- Sovereign Debt and Innovative Financing Instruments for Emerging Markets (Summary) (Izmir, Turkey, May 2005) – [pdf (A4)] [pdf (Letter)]
- The Evolving Role of the Bretton Woods Institutions: Where Do We Stand? (Summary) (Paris, France, July 2005) – [pdf (A4)] [pdf (Letter)]
- Reforming the IMF: Some Initial Proposals (Moscow, Russia, March 2002) – [pdf (A4)] [pdf (Letter)]