[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-112868-en":3,"doc-seo-112868-105":29,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},112868,13056703019662,"Evangeline","https://ap-avatar.wpscdn.com/avatar/be000253a8e92610077?_k=1778726343310543188",8,"Research & Report","Putting Global Governance in Its Place - Policy Critique","Greater economic interdependence is often assumed to demand stronger global governance, yet the document argues that the underlying logic needs close scrutiny. Cross-border spillovers do not automatically justify international rules, because many issues are neither global commons nor genuine beggar-thy-neighbor policies. Failures in governance frequently stem from weak national governance and cannot be corrected through international agreements, even when global oversight seems attractive. The paper proposes “democracy-enhancing global governance” as a distinct alternative.","Pub lic Disclosure Authorized Pub lic Disclosure Authorized  \n\n| Putting Global Governance in Its Place |\n| --- |\n| Dani Rodrik |\n\nGreater interdependence is often taken to require more global governance, but the logic re quires scrutiny. Cross-borderspillovers do not always call for international rules. The canonical cases for global governance are based on two sets of circumstances: global commons and“beggar-thy-neighbor”(BTN) policies. The world economy is not a global commons (outside of climate change), and much of our current discussions deal with policies that are not true BTNs. Some of these are beggar-thyself policies; others may produce domestic benefits, addressing real market distortions or legitimate social objectives. The case for global governance in such policies, I will argue, is very weak, and possibly outweighed by the risk that global oversight or regulation would backfire. While these policy domains are certainly rife with failures, such failures arise not from weaknesses of global governance, but from failures of national governance and cannot be fixed through international agreements or multilateral cooperation. I advocate a mode of global governance that I call “democracy-enhancing global governance,” to be distinguished from “globalization-enhancing global governance.”  \nJEL Codes: F53, F55  \nKeywords: global governance, beggar-thy-neighbor.  \nIntroduction  \nIn a world economy that has become highly integrated, problems always seem to require more international cooperation and better global governance. The populist backlash, as well as U.S. President Donald Trump’s trade policies, have added fuel to calls made by economists, technocrats, and commentariats for more internationalism.“[V]irtually every problem destabilizing the world in this plastic moment is global in nature and can be confronted only with a coalition that is global . . .”, wrote the New York Times columnist Thomas Friedman recently (Friedman 2019) . Or as Nemat Shafik, then the Deputy Managing Director of the International Monetary Fund, put it in 2013,“What happens anywhere affects everybody—and increasingly so.  \nThe World Bank Research Observer  \n© The Author(s) 2020 . Published by Oxford University Press on behalf of the International Bank for Reconstruction and  \nDevelopment / THE WORLD BANK. All rights reserved. For permissions, please e-mail: [journals.permissions@oup.com](journals.permissions@oup.com)  \n[doi: 10.1093/wbro/lkz008 35:1](doi: 10.1093/wbro/lkz008 35:1)–[18](18)  \nDownloaded from [https://academic.oup.com/wbro/article/35/1/1/5706951](https://academic.oup.com/wbro/article/35/1/1/5706951) by International Monetary Fund user on 23 June 2021  \nSo it is pretty clear that the world needs more, not less, international coordination and cooperation”(Shafik 2013). When the European economics network VoxEU.org solicited advice from leading economists on how address the frailties of the global financial system in the wake of the 2008 crisis, the proposed solutions often took the form of tighter international rules administered by some kind of technocracy: an international bankruptcy court, a world financial organization, an international bank charter, or an international lender of last resort (Eichengreen and Baldwin 2008) . Nationalism may seem ascendant in politics, but global governance reigns in economics.  \nIt is tempting to think that greater interdependence requires more global governance, but the logic requires scrutiny. On the one hand, interdependence blurs the distinction between what is domestic and international. On the other hand, there remains considerable institutional diversity among nations, rooted in different historical, cultural, or development trajectories. This diversity reflects itself both in different preferences (“objective functions”) and in different perceptions of how the world works. These in turn make it difficult for countries to agree on common policies or rules. Today’s U.S.–China trade conflic","cbCaipYM9ZXkdGoJ","https://ap.wps.com/l/cbCaipYM9ZXkdGoJ","pdf",220838,1,18,"English","en",105,"# Introduction\n## Why interdependence does not always imply global governance\n## Canonical cases: global commons and beggar-thy-neighbor policies\n## Spillovers vs. harm: how to assess policy spillovers\n## When international rules should override national differences","[{\"question\":\"Why does the document question the assumption that interdependence requires more global governance?\",\"answer\":\"It argues that cross-border spillovers do not always call for international rules, and the usual reasoning needs scrutiny because institutional diversity and differing preferences hinder agreement.\"},{\"question\":\"What does the document identify as the canonical cases for global governance?\",\"answer\":\"It highlights two sets of circumstances: global commons and “beggar-thy-neighbor” (BTN) policies, while noting that much current debate does not fit these categories.\"},{\"question\":\"What alternative approach does the author advocate for global governance?\",\"answer\":\"The author proposes “democracy-enhancing global governance,” explicitly distinguishing it from “globalization-enhancing global 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does the document question the assumption that interdependence requires more global governance?","Question",{"text":74,"@type":75},"It argues that cross-border spillovers do not always call for international rules, and the usual reasoning needs scrutiny because institutional diversity and differing preferences hinder agreement.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"What does the document identify as the canonical cases for global governance?",{"text":79,"@type":75},"It highlights two sets of circumstances: global commons and “beggar-thy-neighbor” (BTN) policies, while noting that much current debate does not fit these categories.",{"name":81,"@type":72,"acceptedAnswer":82},"What alternative approach does the author advocate for global governance?",{"text":83,"@type":75},"The author proposes “democracy-enhancing global governance,” explicitly distinguishing it from “globalization-enhancing global 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