NEW PERSPECTIVES ON GLOBAL GOVERNANCE
Global Finance Series
Edited by
Michele Fratianni, Indiana University, USA, John J. Kirton, University of Toronto, Canada, and Paolo Savona, LUISS Guido Carli University, Italy
The intensifying globalisation of the twenty-first century has brought a myriad of new managerial and political challenges for governing international finance. The return of synchronous global slowdown, mounting developed country debt, and new economy volatility have overturned established economic certainties. Proliferating financial crises, transnational terrorism, currency consolidation, and increasing demands that international finance should better serve public goods such as social and environmental security have all arisen to compound the problem.
The new public and private international institutions that are emerging to govern global finance have only just begun to comprehend and respond to this new world. Embracing international financial flows and foreign direct investment, in both the private and public sector dimensions, this series focuses on the challenges and opportunities faced by firms, national governments, and international institutions, and their roles in creating a new system of global finance.
Also in the series
Sustaining Global Growth and Development:
G7 and IMF Governance
Edited by Michele Fratianni, Paolo Savona and John J. Kirton
ISBN 0 7546 3529 5
Global Financial Grime:
Terrorism, Money Laundering and Offshore Centres
Edited by Donato Masciandaro
ISBN 0 7546 3707 7
Governing Global Banking:
The Basel Committee and the Politics of Financial Globalisation
Duncan Wood
ISBN 0 7546 1906 0
Elements of the Euro Area:
Integrating Financial Markets
Edited by Jesper Berg, Mauro Grande and Francesco Paolo Mongelli
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New Perspectives on Global Governance
Why America Needs the G8
Edited by
MICHELE FRATIANNI
Indiana University, USA
JOHN J. KIRTON
University of Toronto, Canada
ALAN M. RUGMAN
Indiana University, USA
PAOLO SAVONA
LUISS Guido Carli University, Italy
First published 2005 by Ashgate Publishing
Published 2017 by Routledge
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Routledge is an imprint of the Taylor & Francis Group, an informa business
Copyright Michele Fratianni, John J. Kirton, Alan M. Rugman and Paolo Savona 2005
Michele Fratianni, John J. Kirton, Alan M. Rugman and Paolo Savona have asserted their right under the Copyright, Designs and Patents Act, 1988, to be identified as the editors of this work.
All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.
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British Library Cataloguing in Publication Data
New perspectives on global governance: why America needs
the G8. - (Global finance)
1.Group of Eight (Organization) 2. International economic relations 3. International cooperation 4. United States
Foreign economic relations
I. Fratianni, Michele
337.1
Library of Congress Cataloging-in-Publication Data
New perspectives on global governance: why America needs the G8 / edited by Michele
Fratianni [et al.].
p. cm. -- (Global finance)
Includes bibliographical references and index.
ISBN 0-7546-4477 4
1. International organization--Congresses. 2. International cooperation--Congresses. 3. International finance--Congresses. 4. Group of Eight (Organization)--Congresses. I. Fratianni, Michele. II. Global finance series
JZ1318.N489 2005
341.2--dc22
2005041991
ISBN 13: 978-0-7546-4477-4 (hbk)
Contents
Michele Fratianni, John J. Kirton, Alan M. Rugman, and Paolo Savona
Nicholas Bayne
John J. Kirton
Victoria Panova
Bernhard May
Risto E. J. Penttil
David B. Audretsch, Richard M. Stazinski, and T. Taylor Aldridge
Michele Fratianni and Heejoon Kang
Jeffrey A. Hart
Alan M. Rugman
Donato Masciandaro
George M. von Furstenberg
Sylvia Ostry
Heidi K. Ullrich
John J. Kirton, Michele Fratianni, Alan M. Rugman, and Paolo Savona
T. Taylor Aldridge is a Masters student at the School of Public and Environmental Affairs at Indiana University in Bloomington. He is also a Fellow at the Max Planck Institute for Entrepreneurship, Growth, and Public Policy in Jena, Germany.
David B. Audretsch is the Ameritech Chair of Economic Development, Director of the Institute for Development Strategies and Director of the Center for West European Studies at Indiana University. He is also Director of the Max Planck Institute for Economics Research, Growth, and Public Policy in Jena, Germany.
Sir Nicholas Bayne, KCMG, is a Fellow at the International Trade Policy Unit of the London School of Economics and Political Science.
Michele Fratianni is the W. George Pinnell Professor and Chair of Business Economics and Public Policy at the Kelley School of Business at Indiana University in Bloomington, Indiana.
Jeffrey A. Hart is Professor of Political Science at Indiana University in Bloomington, Indiana.
Heejoon Kang is Professor of Business Economics and Public Policy at the Kelley School of Business at Indiana University, Bloomington, Indiana.
John J. Kirton is Director of the G8 Research Group, Associate Professor of Political Science, Research Associate of the Centre for International Studies, and Fellow of Trinity College at the University of Toronto. He was principal investigator for Strengthening Canadas Environmental Community through International Regime Reform (the EnviReform project) at the University of Toronto.
Donato Masciandaro is Professor of Monetary Economics at the Paolo Baffi Centre at Bocconi University and in the Department of Economics, Mathematics, and Statistics at the University of Lecce.
Bernhard May is a resident fellow at the Research Institute of the German Council on Foreign Relations (DGAP) in Berlin, where he is responsible for the U.S./ Transatlantic Relations programme, and is Secretary General of the German Group of the Trilateral Commission.
Sylvia Ostry is the Distinguished Research Fellow at the Centre for International Studies at the University of Toronto. She was a co-investigator for Strengthening Canadas Environmental Community through International Regime Reform (the EnviReform project) at the University of Toronto.
Victoria Panova is a doctoral candidate in the Department of International Relations and Foreign Policy of Russia at Moscow State University of International Relations.
Risto E. J. Penttila is Director of the Finnish Business and Policy Forum EVA, a think tank based in Helsinki. He is also Secretary General of the European Business Leaders Convention. At the time of writing, he was also a fellow at Said Business School at the University of Oxford.