In the wake of the global financial crisis, industrialised countries have agreed a series of regulatory reforms to repair and regulate their own financial systems. All countries, including LICs are encouraged to adopt these new global standards. Members of the G20 have asked the Financial Stability Board, IMF and World Bank to study how global banking initiatives will impact developing and emerging economies, identifying this area as a key policy concern for promoting inclusive growth. To date the scant research on this question addresses almost exclusively emerging market economies. LIC governments and advisers have voiced an urgent need for LIC-specific analysis.
The core research questions are:
- How much de facto flexibility do LICs have in respect of the new regulatory standards, how much do they need, and under what conditions (economic and political; global, regional and national) should they adopt new regulatory standards?
- What strategies for influencing global standard-setting processes and institutions are likely to yield the best outcomes for LICs?
The project combines two disciplinary approaches: political science and economics. It combines quantitative and qualitative analysis, and will generate new datasets. Outputs will include top-quality peer-reviewed academic publications and a series of tailored policy briefs.
The project is led by the Global Economic Governance Programme (GEG) and the Blavatnik School of Government. The team includes researchers from academic institutions in Burkina Faso, Togo, Kenya, and Vietnam, and will involve close engagement with senior policymakers in LICs.
DFID-ESRC Growth Research Programme