From centralised to decentralising global economic architecture : the Asian perspective / Pradumna B. Rana, Xianbai Ji, editors.
Rana, Pradumna Bickram, 1947- editor.; Ji, Xianbai, editor.
2022
HC412
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Title From centralised to decentralising global economic architecture : the Asian perspective / Pradumna B. Rana, Xianbai Ji, editors.
ISBN 9789811920417 (electronic bk.)
9811920419 (electronic bk.)
9789811920400
9811920400
DOI https://doi.org/10.1007/978-981-19-2041-7
Published Singapore : Palgrave Macmillan, 2022.
Language English
Description 1 online resource (xxv, 223 pages) : illustrations (some color)
Other Standard Identifiers 10.1007/978-981-19-2041-7 doi
Call Number HC412
Dewey Decimal Classification 337.5
Summary This book focuses on the recent rise of new regional economic institutions such as the Chiang Mai Initiative Multilateralisation, the Asian Infrastructure Investment Bank, and the Regional Comprehensive Economic Partnership, which were established, in part, as a result of dissatisfaction of dynamic emerging markets with global economic institutions such as the IMF, the World Bank, and the GATT/WTO. The latter were formed by advanced economies in the West, after the historic Bretton Wood Conference of 1944. In doing so, the book addresses how this recent round of decentralisation, defined as the co-existence of "senior" global institutions and a plethora of newly-established regional institutions, has affected global economic governance, and the delivery of global public goods. It also poses the question if this has led to the fragmentation of global economic governance. The book adds value to existing literature by using a benefit-risk analytical framework to study the decentralisation process. Unlike the "contested multilateralism" argument used by some authors which focuses on the costs of decentralisation, the authors argue that benefits must also be considered. It also describes and analyses the establishment of global and regional international economic institutions and the evolving relationships between the two. Third, the authors argue that this decentralisation process will continue in the postpandemic period and recommend policies to reset the relationship between global and regional institutions. And lastly, the book discusses proposals to reform the international monetary system including the global reserve system with a view to reducing the hegemony of the US dollar. Throughout the book, the role for Asia is also identified, and elaborated on. Dr Pradumna B. Rana is a Senior Fellow at the Centre for Multilateralism Studies of the S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore. He was previously the Senior Director of the Asian Development Bank's Office of Regional Economic Integration which spearheaded the ADB's support for Asian economic integration. Dr Xianbai Ji is Assistant Professor at the School of International Studies, Renmin University of China (RUC) where he is also a Distinguished Young Scholar.
Note Includes index.
Access Note Access limited to authorized users.
Source of Description Description based on print version record.
Added Author Rana, Pradumna Bickram, 1947- editor.
Ji, Xianbai, editor.
Available in Other Form From centralised to decentralising global economic architecture
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Chapter 1: Introduction and Overview
Chapter 2: The Evolution of Global Oversight Institutions: From the Library Group to the Group of Twenty
Chapter 3: International Monetary and Economic Development Architecture: Complementarity between Global and Regional Institutions
Chapter 4: Promoting Development Bank Complementarity in Asia
Chapter 5: Reforming the Global Reserve System
Chapter 6: The Evolving International Monetary System: Will Dollar Hegemony Outlive the Digital Revolution
Chapter 7: Managing the Decentralising International Trade Architecture
Chapter 8: Strengthening the International Financial Regulation Architecture.

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