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  • Author: Pierre Siklos
  • Publication Date: 04-2021
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: As digital forms of payment become increasingly popular, especially during the COVID-19 pandemic, cash is no longer king. Central banks are turning their attention toward central bank digital currency (CBDC) to replace coins and bills and to provide other types of services through digital technology. CBDC can also facilitate cross-border transactions through the use of internationally accepted currencies such as the euro and the US dollar. This paper explores the many tailwinds and headwinds that will affect the implementation of a CBDC.
  • Topic: Governance, Digital Economy, Banks, Digital Currency
  • Political Geography: North America, Global Focus, United States of America
  • Author: C. Randall Henning
  • Publication Date: 01-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Cooperation and competition among regional financial arrangements (RFAs) and the International Monetary Fund (IMF) increasingly determine the effectiveness of the global financial safety net (GFSN), which many observers fear is becoming fragmented. Overlap among these crisis-fighting institutions has important benefits but also pitfalls, including with respect to competition, moral hazard, independence, institutional conflict, creditor seniority and non-transparency. The study reviews the RFAs in Latin America, East Asia and Europe to assess their relationships with the IMF and address these problems. Among other things, it concludes: institutional competition, while harmful in program conditionality, can be beneficial in economic analysis and surveillance; moral hazard depends critically on institutional governance and varies substantially from one regional arrangement to the next; secretariats should be independent in economic analysis, but lending programs should be decided by bodies with political responsibility; and conflicts among institutions are often resolved by key member states through informal mechanisms that should be protected and developed. Findings of other recent studies on the GFSN are critiqued. Architects of financial governance should maintain the IMF at the centre of the safety net but also develop regional arrangements as insurance against the possibility that any one institution could be immobilized in a crisis, thereby safeguarding both coherence and resilience of the institutional complex.
  • Topic: Governance, Surveillance, Strategic Competition, IMF
  • Political Geography: Europe, Middle East, Asia, South America, Australia, North America, Global Focus
  • Author: Adedeji Adeniran, Idris Ademuyiwa
  • Publication Date: 07-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The growth of digitalization and digital technology adoption in Africa holds the key to strengthening and diversifying economies across the continent. Although these developments offer potentially life-changing benefits for consumers, businesses and governments, the inherent flaws in the digital market mean these benefits are not guaranteed. As most gains from the digital economy are largely concentrated in the United States and China, the digital divide may widen the gap between the Global North and the Global South.
  • Topic: Economics, Governance, Digital Economy, Digitalization
  • Political Geography: Africa, Global South
  • Author: Michel Girard
  • Publication Date: 08-2020
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Data is seen by many as the most lucrative commodity of the new global economy. Data analytics and self-teaching algorithms are projected to continue to disrupt every imaginable market and to create new ones. Many organizations are struggling to integrate big data analytics into their operations. New data governance challenges could be tackled through adherence to a data governance standard. There is currently no standard in place to provide guidance on the deployment of corporate data policies to manage ethics, transparency and trust in data value chains. This policy brief outlines the issues that should be covered in the proposed standard.
  • Topic: Science and Technology, Governance, Data
  • Political Geography: Global Focus
  • Author: Honzhi Yu, Hongying Wang
  • Publication Date: 02-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In contrast to the growing profile of the Chinese government in global governance, the engagement of Chinese industrial actors in global rule making is quite limited and uneven. Some Chinese industrial leaders have shown an ambition to participate in global rule making in their respective realms; most of the others still lack interest or capacity. This policy brief identifies three plausible sources of variation among the Chinese industrial actors. It offers suggestions to Chinese industrial actors and to those concerned about China’s role in global governance, with the purpose of reducing misunderstanding and building trust between Chinese industrial actors and businesses, regulators, non-governmental organizations and stakeholders from other parts of the world in developing global standards for good governance.
  • Topic: Development, Industrial Policy, Governance
  • Political Geography: China, Asia
  • Author: Walter Kölin
  • Publication Date: 04-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The number of internally displaced persons is at a record high, with most living in protracted displacement. While the humanitarian response in emergency situations is more effective than a decade ago, overall governance — the set of norms, institutions and processes necessary to address internal displacement — remains weak. Using the 1998 UN Guiding Principles on Internal Displacement as the normative point of reference, this paper addresses several questions: What governance gaps and challenges exist in responses to internal displacement? Are there promising new approaches to internal displacement? How can we build on these approaches to make responses more reliable and effective?
  • Topic: Governance, Displacement, Humanitarian Crisis, Internal Displacement
  • Political Geography: Global Focus
  • Author: Dan Ciuriak, Maria Piashkina
  • Publication Date: 04-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The digital transformation provides developing economies new opportunities to leapfrog industrial age infrastructure, to draw on the vast knowledge spillovers from the internet, to take advantage of new markets offered by digital platforms and to exploit production possibilities enabled by digital technologies. It also increases the distance to the technological frontier as leading-edge countries race forward, creates new competitive challenges in capturing production mandates in tasks that can be automated and poses daunting new governance challenges. Developing countries can leverage the valuable data they generate, given their population size, rapid adoption of mobile technology and digital procurement potential, to improve the bargains they strike with advanced country suppliers and platforms and in trade negotiations.
  • Topic: Science and Technology, Governance, Digital Economy, digital culture
  • Political Geography: Global South
  • Author: Susan Ariel Aaronson
  • Publication Date: 07-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Many wealthy states are transitioning to a new economy built on data. Individuals and firms in these states have expertise in using data to create new goods and services as well as in how to use data to solve complex problems. Other states may be rich in data but do not yet see their citizens’ personal data or their public data as an asset. Most states are learning how to govern and maintain trust in the data-driven economy; however, many developing countries are not well positioned to govern data in a way that encourages development. Meanwhile, some 76 countries are developing rules and exceptions to the rules governing cross-border data flows as part of new negotiations on e-commerce. This paper uses a wide range of metrics to show that most developing and middle-income countries are not ready or able to provide an environment where their citizens’ personal data is protected and where public data is open and readily accessible. Not surprisingly, greater wealth is associated with better scores on all the metrics. Yet, many industrialized countries are also struggling to govern the many different types and uses of data. The paper argues that data governance will be essential to development, and that donor nations have a responsibility to work with developing countries to improve their data governance.
  • Topic: Development, Economics, Governance, Data
  • Political Geography: Global Focus
  • Author: Andrew Walter
  • Publication Date: 10-2019
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper explores the role of emerging-country members in the Basel process, a key aspect of the global financial standard-setting process. It argues that this process has been significantly more politically resilient than adjacent aspects of global economic governance, in part because major emerging countries obtain continuing “intra-club” benefits from participation within it. The most important of these are learning benefits, but status and sometimes influence over standard-setting outcomes can also be valuable. The paper outlines how these benefits could be enhanced to secure the ongoing resilience of global financial regulatory governance. It recommends some modest reforms to further improve the position of emerging countries in the process and to bolster its perceived legitimacy among members and non-member countries.
  • Topic: Economics, International Trade and Finance, Governance, Regulation
  • Political Geography: Global Focus
  • Author: John Higginbotham, Jennifer Spence
  • Publication Date: 07-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The North American Arctic (NAA) is a distinct subregion of the Arctic, with vast territories, extreme environmental conditions, small and remote communities, complex governance and significant resource constraints. There is an urgent need for stronger east-to-west cooperation among regional and national governments, Indigenous organizations, business, academia and other stakeholders to build the region’s prosperity. In February 2018, working closely with the Labrador North and Baffin Regional Chambers of Commerce, the Centre for International Governance Innovation hosted the “CIGI Summit of North American Arctic Leaders” — two special panel discussions exploring ways to foster this cooperation and strengthen dialogue among stakeholders. These panels occurred during the Northern Lights 2018 Business and Cultural Showcase, a four-day event in Ottawa bringing together more than 1,200 participants from across the country and around the world. The first panel featured the political leadership of the NAA; the second brought together experts in marine development and infrastructure. This conference report describes the summit’s key themes, priorities and takeaways.
  • Topic: Environment, Natural Resources, Governance, Maritime, Indigenous
  • Political Geography: Arctic
  • Publication Date: 07-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Worldwide, the internet and the increasingly important social media and content applications and platforms running on it have assumed an extraordinary and powerful role in people’s lives and become defining features of present-day life. This global digital ecosystem has created immeasurable benefits for free expression, social and cultural exchange, and economic progress. Yet, its impacts, and the easy access to content it provides, have not all been either foreseeable or desirable, as even a cursory scan of the daily news will show. In this environment, the Global Digital Policy Incubator at Stanford University and the Centre for International Governance Innovation, in cooperation with the Department of Canadian Heritage, invited government, business, academic and civil society experts to an international working meeting in March 2018 to explore governance innovations aimed at protecting free expression, diversity of content and voices, and civic engagement in the global digital ecosystem. One of the goals was to bring different players and perspectives together to explore their similarities within a comparative public policy context. This publication reports on the meeting’s discussion as participants sought innovative approaches to deal with both present and emerging challenges, without impeding the creativity and benefits that the internet can bring.
  • Topic: Civil Society, Governance, Digital Economy, Engagement
  • Political Geography: Global Focus
  • Author: Anton Malkin
  • Publication Date: 08-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper provides a reassessment of Made in China 2025 (MIC 2025) — China’s industrial policy framework aimed at helping the country overcome the much-maligned middle-income trap — in the context of global trade governance. It suggests that China’s industrial policies have been viewed too narrowly — without sufficient attention to longer-term global governance issues — by a large segment of the global business and policy-making community. The paper argues that the general aims of MIC 2025 and the policies that underpin them are not unreasonable, given the increasingly prevalent dilemmas in global trade that China’s leaders are grappling with. These include problems of international development arising from growing global industrial concentration — driven by the growth of the intangible economy — and China’s shrinking access to importing and developing technological components (such as semiconductor chips) that are increasingly characterized as “dual-use” by China’s trading partners. This suggests that resolving the concerns of China’s trading partners regarding China’s industrial policies requires global trade governance reform to ensure an equitable, rules-based global trading order that addresses the legitimate needs of developing and middle-income economies in acquiring foreign-owned technological components and know-how, for the purposes of economic development. The paper concludes by outlining specific recommendations for Canada’s policy makers in improving their economic relationship with China in the context of MIC 2025.
  • Topic: Development, Industrial Policy, Science and Technology, Governance, Free Trade
  • Political Geography: China, Canada, Asia, North America
  • Author: Dan Ciuriak
  • Publication Date: 10-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper reviews industrial policy in theory and historical practice. It makes the case for a fundamental reframing based on the centrality of data to the data-driven digital economy, the various roles that data plays in this economy (as a medium of digital transactions, as intangible capital and as infrastructure of a digitized economy), and the heightened scope for market failure in the data-driven economy. A number of points to guide the formation of industrial and innovation policy in the knowledge-based and data-driven digital economy are suggested. As part of their data strategies, countries should assess the market value of data generated in the exercise of public sector governance and data generated in Canadian public space; put in place procedures to capture data and regulate its capture; and use procurement to develop new capabilities in the private sector.
  • Topic: Industrial Policy, Infrastructure, Governance, Digital Economy
  • Political Geography: Canada, North America
  • Author: Michel Girard
  • Publication Date: 12-2018
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Standards can bring clarity on definitions, systems architecture, data ownership, grading, pooling, storage, disposal and set the bar regarding privacy and aggregation requirements. They are a necessary precondition for interoperability and commoditization to occur throughout value chains and across sectors. Canada has virtually no institutional capacity to develop standards in the information and communication technology sector. This policy brief proposes the creation of a standards collaborative that would be entrusted with the development of a standards road map to support big data analytics.
  • Topic: Governance, News Analysis, Data
  • Political Geography: Canada, North America
  • Author: Alex He
  • Publication Date: 03-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper explores China’s perspectives and practices in its quest for overseas energy supply security and its participation in international energy cooperation since becoming a net oil import country in 1993. It compares the traditional approach, in which China mainly focuses on bilateral means to pursue its overseas energy supply security, and the new concept of energy security, in which greater involvement in global energy governance, in particular in the Group of Twenty (G20), is highlighted to promote China’s energy security. The paper argues that China still retains a bilateral and regional cooperation approach, while making progress in developing closer cooperation with existing major global energy governing institutions. The One Belt, One Road strategy proposed in 2013 is regarded as a strengthened version of the bilateral and regional cooperation approach. Chinese academic circles constitute the main forces advocating China’s more positive participation in global energy governance. The G20 provides significant institutional arrangements to coordinate big powers to govern the international energy markets and to address climate change. This paper suggests that, given China’s growing prominence at the G20, it could be the proper platform for the country to play a more active role in global energy governance.
  • Topic: Climate Change, Energy Policy, Environment, Oil, Regional Cooperation, Bilateral Relations, Governance, G20
  • Political Geography: China
  • Author: Emily Taylor
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The Internet enables the free flow of information on an unprecedented scale but to an increasing extent the management of individuals’ fundamental rights, such as privacy and the mediation of free expression, is being left in the hands of private actors. The popularity of a few web platforms across the globe confers on the providers both great power and heavy responsibilities. Free-to-use web platforms are founded on the sale of user data, and the standard terms give providers rights to intrude on every aspect of a user’s online life, while giving users the Hobson’s choice of either agreeing to those terms or not using the platform (the illusion of consent). Meanwhile, the same companies are steadily assuming responsibility for monitoring and censoring harmful content, either as a self-regulatory response to prevent conflicts with national regulatory environments, or to address inaction by states, which bear primary duty for upholding human rights. There is an underlying tension for those companies between self-regulation, on the one hand, and being held accountable for rights violations by states, on the other hand. The incongruity of this position might explain the secrecy surrounding the human systems that companies have developed to monitor content (the illusion of automation). Psychological experiments and opaque algorithms for defining what search results or friends’ updates users see highlight the power of today’s providers over their publics (the illusion of neutrality). Solutions could include provision of paid alternatives, more sophisticated definition and handling of different types of data — public, private, ephemeral, lasting — and the cooperation of all stakeholders in arriving at realistic and robust processes for content moderation that comply with the rule of law.
  • Topic: Conflict Resolution, Human Rights, Human Welfare, Science and Technology, Governance
  • Political Geography: Global Focus
  • Author: Richard E. Hoagland
  • Publication Date: 01-2016
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Central Asia is strategically important to the West because of its neighbors, but not immediately, because it is not a “hot spot” on the world stage. Western governments are ambivalent about the region because of its poor record on human rights and governance. It presents the classic choice: ideology or realpolitik. But Western policy in Central Asia does not have to be one or the other — it can be both. Western nations can engage strongly to support humanist values in Central Asia through quiet and appropriate behind-the-scenes work with government officials who understand and have similar concerns — and they most certainly do exist and can produce results. Western governments need to engage in Central Asia precisely to ensure that it does not become a hot spot and instead becomes, over time, ever more firmly embedded in the community of responsible nations. Strategic engagement by the West is essential, and it will pay off.
  • Topic: Human Rights, Human Welfare, Politics, Governance
  • Political Geography: Central Asia
  • Author: Jacqueline Lopour
  • Publication Date: 11-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper introduces Central Asia’s geopolitical significance and explores several inter-related security challenges. For each security issue, this paper provides a brief overview of the issue, explains why or how it developed and looks at the issue’s significance within the broader security environment. The paper then turns to Canada’s role in Central Asia and addresses opportunities to expand engagement in the security realm.
  • Topic: Security, International Security, Bilateral Relations, Governance, Geopolitics
  • Political Geography: Central Asia, Canada
  • Author: James Hinton, Kent Howe
  • Publication Date: 04-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This report outlines the impetus behind the Centre for International Governance Innovation (CIGI) International Intellectual Property Law Clinic, which operated for three months in 2014. It consisted of a partnership among the CIGI International Law Research Program (ILRP), Communitech (the Region of Waterloo’s hub for commercialization of innovative technologies) and leading intellectual property (IP) law firms. The report describes the new innovator’s commercialization dilemma — a multifaceted dilemma arising from lack of IP legal knowledge, lack of financial resources and the high costs associated with IP protection, all of which combine to place the new innovator in a vulnerable position at the early stages of their commercialization timeline. After briefly surveying the current environment for entrepreneurship-based clinics, the report describes the elements and structure of the CIGI clinic. The advantages for participating students as well as first-hand accounts of the benefits of the CIGI clinic are also detailed. Taking lessons learned from the CIGI clinic, the report illustrates how an IP-focused law clinic can help to address the commercialization dilemma. The report describes the manner in which IP clinics might be structured, while reviewing the associated benefits and challenges for each structure. The report also makes brief recommendations for governments, law societies, law schools and IP offices to support the provision of IP legal services through the law clinic model.
  • Topic: Environment, International Trade and Finance, Intellectual Property/Copyright, Governance, Entrepreneurship
  • Political Geography: Global Focus
  • Publication Date: 04-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: On the occasion of the April 2015 Global Conference on Cyberspace meeting in The Hague, the Global Commission on Internet Governance calls on the global community to build a new social compact between citizens and their elected representatives, the judiciary, law enforcement and intelligence agencies, business, civil society and the Internet technical community, with the goal of restoring trust and enhancing confidence in the Internet. It is now essential that governments, collaborating with all other stakeholders, take steps to build confidence that the right to privacy of all people is respected on the Internet. This statement provides the Commission’s view of the issues at stake and describes in greater detail the core elements that are essential to achieving a social compact for digital privacy and security.
  • Topic: Security, Science and Technology, Communications, Mass Media, Governance, Digital Economy, Internet
  • Political Geography: Global Focus
  • Author: Paul Martin, Thomas A. Bernes, Olaf Weber, Hongying Wang, Kevin Carmichael
  • Publication Date: 11-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: On November 15-16, 2015, leaders of the world's major advanced and emerging economies will meet in Antalya, Turkey for the G20 summit. In this special report, CIGI experts present their perspectives and policy analysis on the key priorities facing the G20 at Antalya. The Right Honourable Paul Martin states that the multilateral institutions created to make globalization work should be a G20 priority. Thomas A. Bernes asks whether G20 leaders and the institutions that support them can articulate a “policy upgrade” that brings more credibility than last year’s Brisbane Action Plan. Olaf Weber argues that the next step for the G20 should be the development of policies and guidelines that help to manage climate change and financial risk in a prudential way. Hongying Wang examines China's rare opportunity as it assumes the presidency of the G20 to push for collective new thinking on how to establish a less fragmented and more coherent global framework for investment governance that balances the interests of different stakeholders. Finally, Kevin Carmichael suggests that the G20 should elevate gender balance to the top of its agenda.
  • Topic: Economics, Emerging Markets, Globalization, Governance, G20, Financial Markets, Turkey
  • Political Geography: Global Focus
  • Author: Arunabha Ghosh, Anupama VijayKumar, Sudatta Ray
  • Publication Date: 10-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: With halting progress in climate negotiations, there are growing calls for partnerships among self-selected pools of countries, in the expectation that they would facilitate consensus (among both developed and developing countries) and result in faster decision making. In critically examining such a claim, this paper asks: what kinds of partnerships could facilitate coordinated climate-related action across several countries? By focusing largely on technology partnerships (a key demand in climate negotiations), it examines characteristics of successful partnerships and the conditions under which they are created and sustained. While the motivations of existing partnerships are diverse, their functional scope has remained limited. A review of more than 30 initiatives reveals that very few had been designed to extend beyond sharing knowledge and some preliminary research and development activities. Even fewer had enlarged functional focus on actual transfer of equipment, joint production or extensive deployment mandates. The paper intensively analyzes the purpose, membership and governance of four partnerships. Drawing on their lessons, the paper identifies critical features — appropriate financing, leveraging capacity, flexible intellectual property rules and coordination across several institutions — which could become the foundation of new partnerships to deliver measurable action and possibly increase trust among negotiating parties.
  • Topic: Climate Change, Development, Energy Policy, Science and Technology, Intellectual Property/Copyright, Governance
  • Political Geography: Global Focus
  • Author: Joel Blit
  • Publication Date: 11-2015
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The case for patents rests crucially on three conditions: that innovation is undersupplied in the absence of patents; that patents promote increased innovation; and that the welfare benefits of any additional innovation outweigh the welfare costs associated with the temporary monopoly that patents generate. While it is probably true that innovation is undersupplied, the empirical evidence is mixed on whether patents foster innovation. This may be due to patents stifling cumulative innovation because of holdup and ex ante uncertainty over patent rights. This policy brief recommends that to reduce the potential for holdup, uncertainty around patent rights should be reduced. Patents should be easily searchable and more easily understood by non-legal experts. In addition, patents should be narrower and more clearly demarcated. To the extent that the welfare costs of patents appear to outweigh their benefits, the requirements for obtaining a patent should be tightened. Further, patents should be made less broad and, concomitant with the reduction in the length of the product cycle, the length of patents should also be reduced.
  • Topic: Human Welfare, Science and Technology, Intellectual Property/Copyright, Governance
  • Political Geography: United States
  • Author: Leonard Edwards, Peter Jennings
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Canada and Australia have shared interests in bolstering economic prosperity and security cooperation across East Asia. The focus of the world economy has shifted to Asia; Canada should follow the path Australia has taken for decades and orient itself — in economic and security terms — toward the emerging economies of East Asia. The risk of regional instability is growing, however, due to China's re-emergence, continued speculation about US strategic engagement in Asia and increased competition over disputed maritime boundaries. These developments provide opportunities for collaboration between countries like Canada and Australia. Non-traditional security threats, including natural disasters, climate change, food security and cyber security, point to a range of areas where the two countries can work more closely together.
  • Topic: Security, Diplomacy, Economics, International Trade and Finance, Bilateral Relations, Governance
  • Political Geography: America, Canada, Australia
  • Author: Pierre Siklos
  • Publication Date: 02-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Reforms of the financial system in the wake of the global financial crisis are incomplete. Beyond reforms, good judgment is essential in a crisis. Short-termism in finance cannot be completely controlled by regulation and supervision. Financial crises are inevitable but need not be as virulent at the global financial crisis. Central banks will have to rethink their policies and how they interact with other agencies partially responsible for maintaining financial system stability.
  • Topic: Economics, Globalization, International Trade and Finance, Financial Crisis, Governance, Reform
  • Political Geography: Europe
  • Author: Andrew Powell
  • Publication Date: 01-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: There are many dimensions to the international use of a nation's currency. These include the use of a currency for trade invoicing and settlement, the use of a currency to denominate assets to be held as a store of value, for example, as central bank reserves, and the use of a currency to denominate liabilities such as loans or bonds.
  • Topic: Debt, Economics, Governance
  • Political Geography: Latin America, Caribbean
  • Author: James M. Boughton
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Canadians have long harboured a desire to "punch above their weight" in international diplomacy, an aspiration justified by Canada's position in the world both geographically and culturally. This paper examines one aspect of that effort: Canada's role in international financial governance, particularly within the International Monetary Fund. The key issue for the future is whether Canada will continue to have the capacity and the will to take leading positions and actions in the face of increasing competition from the rapidly growing emerging market countries.
  • Topic: Economics, Emerging Markets, International Trade and Finance, International Monetary Fund, Governance
  • Political Geography: United States, Canada
  • Author: David Runnalls, Jessica Boyle, Dave Sawyer
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The most recent report of the Intergovernmental Panel on Climate Change(IPCC) is unequivocal about the magnitude of the challenge posed by man-made climate change. If the world is to avoid exceeding the 2°C average increase in temperature agreed by governments in Copenhagen as the maximum safe level, it needs to move quickly to facilitate the transition to a lower-carbon economy.
  • Topic: Climate Change, Economics, International Cooperation, Governance
  • Political Geography: United Nations
  • Author: Tim Maurer, Robert Morgus
  • Publication Date: 05-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: In December 2012, numerous news outlets reported on the debate over Internet governance that took place at the World Conference on International Telecommunications (WCIT) in Dubai. It was the first time in nearly a decade that the topic attracted major international media attention. The conference ended in a diplomatic éclat with 89 states signing the new International Telecommunications Regulations (ITRs) and 55 publicly opposing them.
  • Topic: International Relations, International Cooperation, Science and Technology, Bilateral Relations, Governance
  • Political Geography: Arabia
  • Author: Miranda Xafa
  • Publication Date: 06-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The 2012 Greek debt exchange was a watershed event in the euro area debt crisis. It generated fears of contagion and was viewed as a threat to the euro itself. Although it achieved historically unprecedented debt relief, amounting to €106 billion (55 percent of GDP), it was “too little, too late” in terms of restoring Greece's debt sustainability. There is a heated debate as to whether the debt restructuring should have taken place sooner, when Greece's adjustment program was agreed to in May 2010. This paper argues that a deep haircut up front, under threat of legislative action, would have been seen as unnecessary and deeply coercive. But delaying the restructuring beyond mid-2011, when it became clear that Greece's debt was unsustainable, was unjustified. The delay reduced the stock of privately held debt subject to a haircut, possibly making an official debt restructuring inevitable down the road. Initial fears that the Greek debt restructuring would pose a serious threat to the euro area's financial stability proved to be exaggerated. On the contrary, it demonstrated that an orderly default involving a pre-emptive debt restructuring is possible in a monetary union, provided appropriate firewalls are in place to limit contagion risks. With crisis management institutions and procedures now in place in the euro area, and with much stricter fiscal surveillance, the Greek experience is likely to remain unique in the history of debt restructurings; however, some lessons can be learned from its specific features.
  • Topic: Debt, Governance
  • Political Geography: Europe, Greece
  • Author: Barry Carin
  • Publication Date: 07-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: African countries are currently engaged at the United Nations (UN) to determine the post-2015 framework to succeed the Millennium Development Goals (MDGs). The post-2015 goals matter because they will guide the priorities of UN agencies, the multilateral development banks, bilateral development assistance and civil society organizations. It is in Africa's interests to ensure the post-2015 framework is congruent with African priorities. African Union negotiators must take a strategic approach in the current process to select the post-2015 development goals.
  • Topic: Development, Governance, Reform
  • Political Geography: Africa, United Nations
  • Author: A. Neil Craik, Nigel Moore
  • Publication Date: 11-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Transparency has become a dominant theme within academic and policy discussions on climate engineering (CE) research governance. As CE research moves from modelling and laboratory studies to field experiments, there is a need to operationalize transparency; that is, to move from transparency in principle to transparency in practice. This, in turn, requires greater attention be paid to the purposes that CE research transparency is intended to serve since the ends sought, as well as the context in which they will operate, will drive the design features of disclosure mechanisms.
  • Topic: Climate Change, Environment, Governance, Reform
  • Author: Aaron Shull, Paul Twomey, Christopher S. Yoo
  • Publication Date: 11-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The US government has announced that it is prepared to unilaterally relinquish its historical control of the key technical functions that make up the modern-day Internet. This control stems from the foundational role played by the United States in the creation of the Internet, and has been exercised through the law of contract over the organization that performs these functions, a not-for-profit corporation based in California, the Internet Corporation for Assigned Names and Numbers (ICANN). Under the existing contractual arrangement, ICANN has been accountable to the US government for the performance of these functions. However, if the US government is no longer party to this agreement, then to whom should ICANN be accountable?
  • Topic: Science and Technology, Communications, Governance
  • Political Geography: United States, California
  • Author: Bessma Momani, Samantha St. Amand
  • Publication Date: 08-2014
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper provides both theoretical and empirical evidence that maintains that a central bank's organizational structure, culture and learning system are important for achieving best governance practices. It argues that a central bank's organizational structure and culture facilitate the effective implementation of governance practices that have been enacted by law or in a strategic plan, with specific reference to central bank independence, communication, transparency, professionalization, technical excellence and reputation risk management.
  • Topic: Governance, Reform
  • Political Geography: Canada, Morocco
  • Author: Laura DeNardis
  • Publication Date: 08-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The distributed nature of Internet infrastructure and relatively malleable user engagement with content can misleadingly create the impression that the Internet is not governed. When Internet governance does rise to media or public prominence, this usually involves high-profile controversies such as the Egyptian government cutting off citizen Internet access or government-delegated censorship requests for Google to delete politically sensitive content. These are examples of Internet content governance via infrastructure. But beneath this layer of content, at much more technologically concealed layers, coordinated and sometimes centralized governance of the Internet's technical architecture is necessary to keep the network operational, secure and universally accessible. This governance is enacted not necessarily through traditional nation-state authority but via the design of technical architecture, the policies enacted by private industry and administration by new global institutions. While these coordinating functions perform highly specialized technical tasks, they also have significant economic and political implications.
  • Topic: Security, Science and Technology, Sovereignty, Governance
  • Political Geography: Egypt
  • Author: James Manicom
  • Publication Date: 08-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: There are a number of strategic challenges currently affecting the Asia-Pacific. In a period of global uncertainty, China has emerged as a confident and powerful actor, while the ability of the United States to remain the region's hegemonic power has come into question. Maritime boundary claims, regionalism and unresolved Cold War sovereignty disputes are a source of considerable uncertainty. A number of non-traditional security challenges are also emerging, including energy and food insecurity, cyber security and the threat of a climate catastrophe-related humanitarian crisis. Canada and Australia — resource-based economies with a record of bilateral and institutional engagement in the region, and important US allies — have an interest in these challenges, and in ensuring regional strategic stability that promotes economic growth.
  • Topic: Development, Economics, Governance
  • Political Geography: United States, China, Canada, Israel, Australia, Australia/Pacific, Asia-Pacific
  • Author: James A. Lewis
  • Publication Date: 10-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The current approach to Internet governance is politically untenable because it lacks legitimacy in the eyes of many new Internet users. Legitimacy is a central issue for Internet governance.
  • Topic: Globalization, Science and Technology, Communications, Infrastructure, Governance
  • Political Geography: United States
  • Author: Dave Clemente
  • Publication Date: 10-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The complexity of negotiating global Internet governance in the coming years presents states with multiple challenges. One primary challenge for liberal democracies is to adapt their current approach (that is, the multi-stakeholder model) while enhancing its legitimacy on the international stage. A model of governance that is perceived as legitimate and capable of maintaining a stable environment is more likely to be durable, as opposed to one that lacks the ability to adapt, thereby encouraging other actors to develop competing models.
  • Topic: Globalization, Science and Technology, Infrastructure, Governance
  • Author: Ronald J. Deibert
  • Publication Date: 10-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Cyberspace is the global communications and information ecosystem, and it is now deeply embedded in all aspects of society, economics and politics. As cyberspace has grown in size and significance, the security of the domain has become highly contested among states, the private sector and civil society. This paper is divided into two parts: The first half focusses on the forces that are contributing to escalating international tensions and conflicts in cyberspace, largely driven by state-based concerns around national security. From this perspective, the exercise of state power in cyberspace is growing (to borrow an old phrase) in “leaps and bounds.” The second half employs a different meaning of “bounding power” — which refers to tying down, checking or restraining the exercise of power — and outlines steps that might be taken to lead us down an alternative path, whereby security and openness are both protected and preserved.
  • Topic: Security, Civil Society, Economics, Politics, Science and Technology, Governance
  • Author: Kai Sun
  • Publication Date: 11-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: As China's presence in the Arctic grows, international attention on China in the Arctic also grows. This paper clarifies why China is interested in the Arctic and its role in joining the Arctic play, and touches on future trends in this regard. The paper begins with a discussion of China's recent Arctic capacity building and diplomacy, and the surge of interest in Arctic affairs by Chinese social scientists and strategists in recent years. China looks north for basically four reasons: it is influenced by environmental changes in the Arctic; it is drawn by the business opportunities arising from the opening of the Arctic passages and better access to Arctic resources; and it is also committed to maintaining good governance in the Arctic — which is also in its best interests.
  • Topic: Foreign Policy, Diplomacy, Economics, Oil, Natural Resources, Governance
  • Political Geography: China, Israel
  • Author: Young Kil Park
  • Publication Date: 12-2013
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: South Korea's interest in the Arctic reached a peak on May 15, 2013, when the country obtained permanent observer status in the Arctic Council. The country's interest in the Arctic began in the 2000s, following reports of new sea route created by accelerated thawing in the Arctic due to increasing temperatures. A South Korean shipping company completed Korea's first commercial freight voyage via the Arctic Ocean on October 22, 2013, after taking 35 days to make the journey from Ust-Luga port of Russia to Gwangyang port of Korea. This paper examines South Korea's interest and involvement in the Arctic and analyzes its challenges. The paper summarizes the Arctic-related activities the country has pursued so far; examines specific interests in the fields of science, sea routes and hydrocarbon resources, fishing and governance; and, finally, evaluates the challenges ahead. South Korea has made significant progress in entering the Arctic Ocean but many grave challenges must be addressed before the Arctic can become the source of economic prosperity.
  • Topic: Economics, Oil, Maritime Commerce, Natural Resources, Governance
  • Political Geography: Russia, Israel, South Korea, Korea
  • Author: Alejandro Pachon
  • Publication Date: 01-2012
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Major aid donors and international organizations have become increasingly more involved in efforts to reform the security and justice institutions in developing countries over the past 20 years. Emerging doctrines on security sector/system reform (SSR) have attempted to systematize these efforts. The goal of international support for SSR has been defined as helping countries meet their security and justice challenges in a manner consistent with democratic governance. There have been difficulties, however, in putting these principles into action.
  • Topic: Security, Development, International Organization, Foreign Aid, Governance, Law
  • Author: Paul Blustein
  • Publication Date: 07-2012
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper provides the first detailed look inside the operations of the Financial Stability Forum (FSF), a little- known and secretive institution created shortly after the emerging-market crises of the late 1990s. Although other institutions have come under intense scrutiny and criticism since the eruption of the global financial crisis in 2007, the FSF has gotten much less attention than it deserves. Its primary aim was to coordinate efforts in preventing and mitigating future crises, and its members included top- ranking officials from the finance ministries, central banks and regulatory agencies of the world's richest countries. Moreover, the FSF's successor body, the Financial Stability Board (FSB) — whose name reflects the two bodies' many similarities — was established at a summit of world leaders in April 2009, amid solemn promises that the leaders were putting in place the mechanisms necessary to ensure the safety and soundness of the global financial system.
  • Topic: Security, Development, Economics, Emerging Markets, Globalization, Global Recession, Financial Crisis, Governance
  • Author: Susan Schadler
  • Publication Date: 08-2012
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Global economic developments over the past two years have dashed hopes that the risks of sovereign debt crises have been tamed. The turmoil in Europe has, of course, been the most acute of these developments, but growing national fiscal imbalances, anemic prospects for growth and the expanding reach of private financial markets to newly emerging economies are potent, if less immediately threatening, signs of the risks ahead. After lying dormant for almost a decade, pressing questions about whether global institutions are capable of containing the costs of debt crises are again being raised.
  • Topic: Debt, Economics, Globalization, Political Economy, Financial Crisis, Governance
  • Political Geography: Europe
  • Author: Pierre Siklos
  • Publication Date: 08-2012
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper considers the relevance of the Bretton Woods system for the prospects of reform of the international monetary system and in the context of the ongoing euro area financial crisis. It explores the challenges that must be met in attempting to reform the present international monetary system and euro area policies. After considering what resonates, and what does not, from the Bretton Woods regime of fixed exchange rates, it examines some of the key lessons from that era. The paper concludes that policy makers at Bretton Woods promised too much in terms of the stability and durability of the policy regime, and did not give sufficient thought to how the arrangement devised in the 1940s would actually function. They failed to instill the logic of collective action among their members. In particular, the Bretton Woods system failed because the agreement paid virtually no attention to governance issues. Finally, in terms of the current situation in the euro zone, policy makers have failed to recognize that the problems are not purely economic; domestic political considerations are important too. A political-economy approach is required for the design of new international monetary arrangements. The same principles apply today when we contemplate the survival of the euro zone. Politicians need to be more realistic and less ambitious, lest they create the preconditions for the next global crisis.
  • Topic: Economics, Global Recession, Financial Crisis, Governance
  • Political Geography: Europe
  • Author: Gordon S. Smith
  • Publication Date: 05-2011
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: This paper provides a brief history of the evolution of the Group of Seven (G7) from its origins in the aftermath of the 1971 breakdown of the Bretton Woods system of exchange rates and the oil crisis in 1973. It then discusses Russia's participation at summits after the fall of the Berlin Wall, formally joining the group in 1997, thus becoming the Group of Eight (G8). The paper gives a concise account of the formation of the Group of Twenty (G20) finance ministers and central bank governors in the late 1990s, in the wake of financial crises in Asia and Latin America, which was elevated to a leaders' summit forum at the outbreak of the global financial crisis in 2008. The paper wraps up with a discussion of the differences in the G8 and G20 models, concluding that the G20 process is still the best option for meeting the challenges of complex global governance issues.
  • Topic: International Cooperation, International Organization, International Trade and Finance, Financial Crisis, Governance
  • Political Geography: Russia, Asia, Latin America
  • Author: Paul Heinbecker, Barry Carin, David Runnalls, Paul Jenkins
  • Publication Date: 10-2011
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: CIGI has been building a network of former and serving officials from foreign ministries, central banks, finance departments and international organizations, and with researchers at prestigious think tanks and universities from around the world. The defining objective of the network of individuals, working in independent institutions, is the cooperative development of innovative proposals for global governance to support the policy development work of the G20. The CIGI conference "An Unfinished House: Filling the Gaps in International Governance" is the initial stage in this CIGI-led G20 think tank network's cooperative effort. The background paper for the conference provides a useful collection of facts and observations about the universe of global governance arrangements. It offers a preliminary description of the critical gaps and inadequacies - to assist in thinking about the principal dilemmas and research priorities.
  • Topic: Development, International Cooperation, Governance
  • Author: Indianna D. Minto-Coy
  • Publication Date: 12-2011
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The effects of the ongoing global financial crisis have intensified the existing economic issues facing the Commonwealth Caribbean, including declining investment, productivity levels and employment opportunities for its citizens. Although the current crisis presents challenges for governments in the region, it also offers an opportunity for these countries to implement innovative solutions to contend with the short-term effects of the financial crisis, while addressing long-standing problems. A solution that has been successful in Botswana, Ireland and Barbados, is the use of social partnerships. Undertaken while these countries were facing economic and social crises, social partnership as a specific governance model allowed them to achieve levels of development and stability that other states yearn to attain.
  • Topic: Development, Economics, Labor Issues, Foreign Direct Investment, Financial Crisis, Governance
  • Political Geography: Caribbean
  • Author: Paul R. Masson
  • Publication Date: 12-2011
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: The independence of the European Central Bank (ECB), seemingly guaranteed by its statutes, is presently under attack. The ECB has been led to acquire large amounts of government debt of the weaker euro zone members, both to help contain their interest costs and to help protect the solvency of banks throughout the zone that hold their debt. This paper presents a model of a dependent central bank that internalizes the government's budget constraint. Using a Barro-Gordon framework, the model embodies both the desire to stimulate output and to provide monetary financing to governments. As a result of the inability to pre-commit to first-best policies, the central bank produces excess inflation — a tendency partially reduced in a monetary union. The model implies that not only shock asymmetries, but also fiscal asymmetries, are important in the membership calculus of desirable monetary unions. On the basis of this framework, calibrated to euro zone data, the current membership is shown not to be optimal: other members would benefit from the expulsion of several countries, notably Greece, Italy and France. A narrow monetary union centred around Germany is sometimes mooted as a preferable alternative, especially if it could guarantee central bank independence. However, simulation results suggest that such a narrow monetary union would not be in Germany's interest: though better than the euro zone with a dependent central bank, it would not internalize enough trade to make it more attractive than the resumption of monetary autonomy by Germany.
  • Topic: Debt, Economics, Monetary Policy, Governance
  • Political Geography: Europe, Greece, France, Germany, Italy
  • Author: Jennifer Clapp, Steven Bernstein, Matt Hoffmann
  • Publication Date: 12-2009
  • Content Type: Working Paper
  • Institution: Centre for International Governance Innovation
  • Abstract: Global environmental governance is undergoing significant change. There is a growing recognition that the traditional state-centric intergovernmental model of addressing global environmental problems is insufficient in the face of increasingly complex and overlapping environmental issues. There are serious questions about the ability or willingness of states, individually and collectively, to respond to the most pressing environmental challenges. The erosion of confidence in and the dominance of a state-centric governance model has simultaneously resulted from and provoked significant innovation. While there is growing discussion of institutional reform at the international level including reform to the United Nations Environment Programme and the creation of a new global organization to address these problems, there is also a fragmentation of governance processes to other jurisdictional levels and actors. Corporations, social and environmental organizations, private-public partnerships, substate governments, and even local communities have already begun to conceive and implement governance initiatives to address global environmental problems. This paper reflects upon these innovative institutional dynamics and assesses their prospects to produce effective, legitimate, and equitable outcomes. It concludes with a series of questions to guide future analysis and to better understand the prospects for improving the practice of global environmental governance.
  • Topic: Climate Change, Environment, International Cooperation, International Organization, Governance