Global Governance

Best Essays
Summarise the key points discussed
1- The concept of Global Governance
2- What is the WB, Roles and Functions in today’s world.
3- Some examples of WB policies not being effective: Brazil.
4- The consequence of the WB’s policies that were not successful: Brazil.
5- Successful WB policies that were effective and improved India.
6- What is the IMF, Roles and Functions in today’s world.
7- The differences & similarities between the IMF and World Bank.
8- Some examples of IMF policies not being effective: Iceland and Greece.
9- The consequence of the IMF’s policies that were not successful.
10- Successful IMF policies that were effective and improved Jordan and Greece.
The concept of Global Governance
• Like globalisation, global governance is a permissive notion. According to Biersteker,T. “global governance is applied to a wide variety of different practices of order, regulation, system of rules and patterned regularity in the international arena”.
• Rosenau (1992b:7) describes global governance as “an order that lacks a centralized authority with the capacity to enforce decisions on a global scale”
• The purpose of worldwide governance is for the management of interdependence that is absence on the global state.
• According to Bull,H. (1977) it must also be for a great global objective, “global governance must be purposive and/or oriented toward the achievement of some goal or goals.”
• For global governance to be effective it must be patterned with some sort of regularity or order at a global level.
• Global governances need to have a system of rules. Global governance entails decisions that defines and shape expectations at a global level. Governance requires acceptance by a significant portion of some relevant population and therefore is a dependent on inter-subjective meaning as a formally sanctioned constitution and charters (Rosenau 1992b:4)
• Global governance should not be equated with country’s government but a function within the



Bibliography: Anon –“Greece and the IMF” – info [Internet] July 8, 2012 – Http://www.catastroika.com/index.php[Accessed 07/03/13]. BIC (2013) World Bank [WWW] Bank Information Center. Available from: http://www.bicusa.org/institutions/worldbank[Accessed 07/03/13]. Danielsson,J.(2001) Was the IMF programme in Iceland successful? [WWW] VOX. Available from http://www.voxeu.org/article/iceland-was-imf-programme-successful[Accessed 28/02/13]. Driscoll,D.(1996) The IMF and the World Bank How Do They Differ? [WWW] IMF. Available from http://www.imf.org/external/pubs/ft/exrp/differ/differ.htm [Accessed 28/02/13]. Hall, Rodney and Biersteker, Thomas (eds) (2002), The Emergence of Private Authority in Global Governance, Cambridge and New York: Cambridge University Press. INTERNATIONAL MONETARY FUND (2005) Evaluation Report IMF Support to Jordan, 1989–2004.Washington D.C: INDEPENDENT EVALUATION OFFICE,pp.15-64. Rosenau, J. (1992) Governance, order, and change in world politics. Cambridge: Cambridge University Press, PP. 1-29 Stedile, J The World Bank (2009) KARNATAKA WATERSHED DEVELOPMENT PROJECT [WWW] The World Bank. Available from: http://www.worldbank.org/projects/P067216/karnataka-watershed-development-project?lang=en[Accessed 07/03/13]. The World Bank (2012) What We Do [WWW] The World Bank. Available from: http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:20103838~menuPK:1696997~pagePK:51123644~piPK:329829~theSitePK:29708,00.html[Accessed 07/03/13]. The World Bank (2012) Who We Are [WWW] The World Bank. Available from: http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:20046292~menuPK:1696892~pagePK:51123644~piPK:329829~theSitePK:29708,00.html [Accessed 07/03/13].

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