Developing countries are working to meet the demands of their populations for shared prosperity and the protection of global public goods. However, existing policies are restricting their growth, and the sense of inequality, absence of a level playing field, and rising pressures from climate change have created a need for new approaches.
Emerging market economies and low-income countries are calling for a new financial architecture to improve their access to financial resources and influence over finance-related decisions. This involves the need to adjust both implementation practices within multilateral institutions and the processes and participation rules in global institutions.
The course will analyze the sources of economic dislocations and shifts in the political economy post-2020, along with the fundamental economic choices and their impacts that have led to a rejection of the current system. It will also examine the evolving roles of key multilateral institutions, such as the IMF and World Bank, as well as organizations like the African Union, G20, and BRICs, in response to these demands from emerging and developing countries.