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Rethinking Global Economic and Social Governance

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  • Ocampo Jose Antonio

    (Columbia University, IPD)

Abstract

This paper presents a new typology of global cooperation for development, based on three objectives: managing interdependence, furthering the development of societies, and gradually overcoming the asymmetries that characterize the world economic system. It then explores the nature of these asymmetries and proposes that the concept of "special but differentiated responsibilities" offers the best framework for handing the special issues of developing countries in the global order. Finally, it develops a five point agenda for improving global economic and social governance structures: creating a dense network of world, regional and national institutions; ensuring the equitable participation of developing countries in global governance; creating a Global Council of the broad UN system, based on representation by constituencies; guaranteeing a better coherence of the decentralized system that characterizes global arrangements in the economic and social field; and effective accountability for international commitments.

Suggested Citation

  • Ocampo Jose Antonio, 2010. "Rethinking Global Economic and Social Governance," Journal of Globalization and Development, De Gruyter, vol. 1(1), pages 1-29, January.
    • Handle: RePEc:bpj:globdv:v:1:y:2010:i:1:n:6
    DOI: 10.2202/1948-1837.1020
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    References listed on IDEAS

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    4. Bustillo, Inés & Ocampo, José Antonio, 2003. "Asymmetries and cooperation in the Free Trade Area of the Americas," Series Históricas 7864, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. Stiglitz, Joseph & Ocampo, Jose Antonio & Spiegel, Shari & Ffrench-Davis, Ricardo & Nayyar, Deepak, 2006. "Stability with Growth: Macroeconomics, Liberalization and Development," OUP Catalogue, Oxford University Press, number 9780199288144.
    6. Lant Pritchett, 1997. "Divergence, Big Time," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 3-17, Summer.
    7. José Antonio Ocampo & María Angela Parra, 2007. "The Dual Divergence: Growth Successes and Collapses in the Developing World Since 1980," Palgrave Macmillan Books, in: Ricardo Ffrench-Davis & José Luis Machinea (ed.), Economic Growth with Equity, chapter 4, pages 61-92, Palgrave Macmillan.
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    Cited by:

    1. José Antonio Ocampo & Natalie Gómez-Arteaga, 2016. "Accountability in International Governance and the 2030 Development Agenda," Global Policy, London School of Economics and Political Science, vol. 7(3), pages 305-314, September.
    2. Ilene Grabel, 2010. "Promising Avenues, False Starts and Dead Ends: Global Governance and Development Finance in the Wake of the Crisis," Working Papers wp241, Political Economy Research Institute, University of Massachusetts at Amherst.
    3. Ocampo José Antonio & Stiglitz Joseph E., 2012. "From the G-20 to a Global Economic Coordination Council," Journal of Globalization and Development, De Gruyter, vol. 2(2), pages 1-18, January.
    4. Vestergaard Jakob & Wade Robert H., 2012. "The G20 has Served its Purpose and Should be Replaced," Journal of Globalization and Development, De Gruyter, vol. 2(2), pages 1-19, January.
    5. Gianluca Grimalda & Nancy Buchan & Marilynn Brewer, 2018. "Social identity mediates the positive effect of globalization on individual cooperation: Results from international experiments," PLOS ONE, Public Library of Science, vol. 13(12), pages 1-25, December.
    6. Rebecca Ray & Rohini Kamal, 2019. "Can South–South Cooperation Compete? The Development Bank of Latin America and the Islamic Development Bank," Development and Change, International Institute of Social Studies, vol. 50(1), pages 191-220, January.
    7. Steinberg, Federico, 2014. "Gobernanza económica global: ¿Dónde estamos?/Global Economic Governance: Where do we Stand?," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 32, pages 891-910, Septiembr.
    8. Mayer Frederick & Gereffi Gary, 2010. "Regulation and Economic Globalization: Prospects and Limits of Private Governance," Business and Politics, De Gruyter, vol. 12(3), pages 1-27, October.

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