A Better Globalization: Legitimacy, Governance, and Reform (Brief)
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Research Topics
- Aid Effectiveness
- Capital Flows/ Financial Crises
- Economic Growth
- Globalization
- Governance/Democracy
- International Financial Institutions
- Migration and Population
- Security and Development
- Trade Policy
Opinions
- Nancy Birdsall testifies before House Foreign Affairs Committee about Poverty and Inequality in Latin America
- What to Read: Inequality and Development in a Globalizing World (Syllabus)
- Globalization and Development: New Challenges and New Opportunities
Articles
- Scrap the G8?
- Globalization and Inequality
- IMF to Propose Greater Representation for Developing Countries
- Lost Opportunities for Global Majority [FT]
- IMF to Boost Votes of Big, Fast-Growing Developing Countries
- Q&A: The UN at 60
- UN Reform Process Delayed Pending More Talks
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Kemal Dervis with Ceren Özer
02/01/2005
This brief summarizes five key recommendations from the CGD book A Better Globalization: Legitimacy, Governance, and Reform by Kemal Dervis. It presses for reform on a broad front with a renewed, more legitimate, and more effective United Nations as the overarching framework for global governance based on global consent.
The key dimensions of the renewal are:
1. Reform of the UN Security Council to allow universal participation through a system of constituencies and weighted voting that balances continuity and change.
2. A new UN Economic and Social Security Council as an “equal partner” of the Security Council to replace the G-7 at the top of the global economic governance architecture.
3. A Stability and Growth Facility to help middle-income, emerging market economies reduce debt burdens without having to sacrifice the fight against poverty and macroeconomic stabilization.
4. Meeting poor countries’ special challenges with a “big push” in additional development resources coupled with conditions that address the governance failures that threaten their effective use.
5. A truly development-oriented, WTO-led trade liberalization, able to win the hearts and minds of world citizens by spreading the benefits of trade and by compensating those who lose in the short run.