EGG Essays

EGG Essays

The Promises and Challenges of Digitalization and Development in Major Emerging Markets

Laura C. Mahrenbach

Observers have noted we are now in the midst of a “Fourth Industrial Revolution” whereby new digital technologies and big data both offer the potential to address longstanding developmental challenges and simultaneously raise questions about traditional modes of governance and production. This new pattern of change is especially relevant for emerging and developing economies. How can data and digitalization provide new approaches to stubborn development problems? What challenges do governments face in pursuing such efforts? And what are the global governance dimensions within these processes?

 

The Future of International Development Finance

Pieter Bottelier

The system of Multilateral Development Banks (MDBs) as it has developed since the Bretton Woods conference of 1944 has performed better than is usually recognized. Partly because of the Bretton Woods institutions and the activities of regional MDBs that have emerged since the late 1950s, global inequality as measured by national average p.c. income across countries, has declined for the last four to five decades. However, in recent years the trend toward convergence has stalled or reversed for the poorest countries, probably including India. Despite some earlier convergence of p.c. incomes, poverty, underdevelopment and excessive inequality remain serious problems in today’s world. This EGG Essay explores the roles international development finance can play in addressing it.

 

New Pacific Alliances: Transforming Transpacific Relations

New Pacific Alliances: Transforming Transpacific Relations

Jorge Heine and Nicolás Albertoni

At a time when protectionism and isolationism are raising their ugly heads, the TPP11 conveyed a potent signal. In fact, the agreement was signed on the very day that U.S. President Donald Trump announced the imposition of U.S. tariffs on imports of steel and aluminum.  Eleven countries from three continents (Asia, Australasia and Latin America), both developed (Australia, Canada, Japan, New Zealand and Singapore) and developing (Brunei, Chile, Malaysia, Mexico and Peru), capitalist and socialist (Vietnam), banded together in the cause of liberalized commerce, globalization and a rules-based international trading order. These diverse nations are pushing for a more open trans-Pacific trading system at a time when the geo-economic axis is shifting from the North Atlantic to the Asia-Pacific, and the North Atlantic powers themselves are turning inward, under the spell of nativist and populist currents.  It is not farfetched to suggest that new Pacific alliances are emerging.

 

What is Next? …for World Order and Global Governance

Gregory T. Chin and Carla P. Freeman

In the scholarly world, the most influential scholarship in International Relations, International Organization and International Political Economy has largely reflected the proposition that “exogenous conditions” can be assumed to be stable and largely unchanging, and the chief intellectual goal has been mapping how the actors in the system would adapt to, and internalize, the established norms and rules. There was really no need to debate fundamentals or first principles. Or so it was thought. But as the world has entered a period of dynamic change, it is increasingly apparent that another perspective is required – one that can grapple seriously with both change and continuity.