Twentieth Anniversary Special Issue of Global Development Studies
THEME: Emerging Patterns in Multilateralism and Global Governance: New Approaches and
Challenges for the Caribbean Region
Multilateralism and Regionalism: Challenges and Implications for the Caribbean Region
Global Development Studies intends to publish a 20th anniversary special issue focusing on the Caribbean region in
Introduction and Context:
Multilateralism articulates the patterns of inter-state relations (behavior) and the global policy framework for collective decisions.
Global policy regimes reflect the institutional arrangements for cooperation and coordination relating to specific global problems and challenges, and they establish rules and norms guiding the behavior of participants in various international institutions.
While previous debates and studies on multilateralism have largely focused on institutional reforms relating to the nature and scope of international institutions, the impact of globalization on the framework for collective decisions and the current uncertainties in the global economy have created a new challenge and analytical shift in the study of multilateralism:
Establishing new global norms and regimes to address transnational issues and challenges.
1. Globalization and Global Policy Regimes: The Impact of Globalization on Global Public Policy:
Globalization reflects the most advanced stage of economic integration in the global economy.
The process of globalization has altered how collective decisions are made in the global economy.
1. Globalization has “changed the rules of the game.” Globalization changed the “structural context” in which collective decisions are made.
2. Globalization has changed the rules guiding management and regulation of the global economy.
3. Similarly, globalization changed the organizational context in which domestic (national) public policies are now formulated.
New Global Non-State Actors:
Transnational corporations increasingly play an important role in the global policy process. A major factor influencing their growing importance is the need for them to respond to the new requirements of domestic and global competition.
They become strategic organizations with core capabilities to enhance and sustain their competitiveness. Their responses increasingly force them to have a major impact on the public policy of national governments.
In some cases, they collaborate with governments in the formulation and implementation of public policy, they also collaborate with non-profit organizations, and in other cases they act independently.
2. Uncertainties in the Global Environment:
United States’ Retreat from Global Governance: “America First Policy”
● Rising economic nationalism and antipathy towards globalization (globalism)
● Nationalist and transactional foreign policy: Transactional and zero-sum view of great powers relations
● United States’ withdrawal from the Paris Climate Accord:
Articulating his decision to withdraw from the Paris Climate Accord, Mr. Trump argued that his decision was an attempt to boost the nation’s industry and independence.
"I was elected to represent the citizens of Pittsburgh, not Paris," Mr. Trump said, calling the decision a "reassertion of our sovereignty."
● Renegotiation of bilateral and regional trade agreements:
Decision to abandon or re-negotiate regional trade agreements—Abandoning the Trans-Pacific Partnership and the re-negotiation of the NAFTA.
● United States commitment to trade liberalization and market access: At the April 2017 G-20 Meeting, members at U.S. insistence dropped the Group’s commitment to resist all forms of trade protectionism.
● Implications: Promoting a Bilateral Framework to address global policy issues and challenges
A New form of global policy management designed to address specific problems and challenges:
● Return to a non-zero-sum system of bilateral alliances: What are the components and expectations?
● From Multilateralism to Unilateralism:
What are the rules of intervention and regulation, scope and application?
Changing Multilateralism and Global Shifts: Beyond a rationalist approach to the study of multilateralism:
Suggested Topics and Areas
Contributions are not restricted to the suggested topics:
We welcome contributions relating to the analytical shifts in the analysis of multilateralism and global governance relating to the Caribbean region -- contributions beyond the debate about institutional reforms of the United Nations multilateral system and multilateral development and financial organizations.
Changing Paradigm of Global Governance: Implications form the Caribbean Region
● Global Policy Actors: Inter State (Non-State Actors) and Transnational Corporate Actors.
Assessing their Contributions to Global Governance and Global Development.
● Hemispheric Relations and Cooperation: Inter-American agenda for security, regionalism and development strategies.
● Changing Environment for United States-Caribbean Relations.
● Changing Environment for European Union-Caribbean Relations: Implications of British exit (Brexit).
● Multilateral Environmental Regimes: Promoting Environmental Sustainability in the Caribbean:
The United Nations Framework Convention on Climate Change: Climate Change Agreement
Developing binding agreements relating to the harmonization of environmental objectives, standards and regulation.
Multilateral Environmental Agreements as Public Goods: Assessing the role of transnational non-state actors.
● Global Development Architecture: Review and Assessment of the United Nations 2030 Agenda for Sustainable Development.
1. Financial Globalization: Global Capital Flows and Capital Account Liberalization:
Policies and Institutional Responses in the Caribbean Region:
1. Challenges in the Global Financial System: Assessing the effectiveness of the current global financial regimes and the viability of the global financial architecture.
2. Global Financial Regimes: Changing Paradigm in Global Financial Governance:
Assessing the institutional relevance of the International Monetary Fund relative to its original vision of maintaining international monetary stability and financing short-term balance of payment adjustments by its members.
Financial globalization refers to the fundamental changes in the global financial and monetary system since the early 1990s. It reflects the unprecedented expansion in global capital (capital mobility), the dominant role of private capital in the global financial market, and the increased integration of financial markets.
1. The integration of financial markets and the liberalization of capital account markets have increased the size and speed of capital across markets and economic systems.
2. The allocation of global assets or financial resources for productive investment activities. With the integration of financial markets, global capital now flows from nations with surplus capital (reserves) to those nations undergoing current account deficits.
3. The pace of expansion of non-banking financial institutions has surpassed that of commercial banks.
4. Institutional investors play a dominant role in the global financial market in allocating global savings for productive and investment activities.
5. The emergence of new financial market innovations and the increased application of new and complex financial instruments.
Challenges and Implications for the Caribbean Region:
1. Caribbean Economic Growth Performance.
2. Macroeconomic challenges in the Caribbean region
3. Macroeconomic imbalances and structural impediments.
4. Financial sector stability.
5. Financial Reforms: Multilateral and regional policy coordination.
6. Building resilient financial systems: risk management strategies. Risks associated with capital transfers between countries, between banks and other financial institutions, and between the financial sector and other sectors.
7. External Vulnerability: The liquidity crises associated with the volatility of capital flows and the vulnerability of some nations and financial systems to sudden changes in capital flows and external shocks.
8. Responses to capital account crises generated by shifts in the allocation of global assets.
9. Global current account imbalances.
2. Multilateralism or Regionalism? – (or) Open Regionalism—Multilateralism within Multilateralism:
Whither the Most favored nation (MFN) principle in global trade: what is the status of reciprocity and non-discrimination in trade?
● Status of regionalism in the Caribbean region: analytical review of the academic and policy literature.
● How does the Caribbean approach to regionalism fit into the multilateral—global governance regimes?
● New Drivers of Regional Economic Integration: New Forms (Processes) for Integration into the Global Economy:
Assessment: Developing the region's competitive capabilities and new forms of specialization:
● Intra-Regional Integration: Enhancing regional competition, complementarities and economic diversification
● Caribbean trade and economic relations with Latin America: exploring complementarities and economic convergence between the region and Latin America
● Economic and Trade relations with the United States, Britain and the European Union
3. Regional Organizations:
Assess the contributions and continued relevance of the CARICOM, the Caribbean Development Bank, Inter-American Development Bank, Economic Commission for Latin America, among the relevant regional organization.
Instructions for Potential Contributors and Projected Publication Schedule:
Submission of Abstracts: Interested contributors should submit their abstracts of no more than 200 words to the managing editor no later than March 15, 2018. In addition to the proposed title, each abstract should include the objectives and organization of the study and the conceptual framework.
Submission Deadline for the First Draft of Each Article: The first draft of each article should be submitted for external review no later than June 30, 2018. Two anonymous readers will review each article submitted.
Submission Deadline for Final Drafts of All Articles: Final Drafts of all articles selected for publication should be submitted electronically no later than August 31, 2018.
Projected Publication Date: October 31, 2018
Managing Editor, Global Development Studies
C/O International Development Options
912 Falcon Drive, Largo, MD 20774
United States of America