Unit 8
Governance and Globalization

Overview

This section examines the characteristics of globalization that have become such a prominent feature of contemporary global politics, and it considers how globalization has been shaped by, and in turn has shaped, international law and global governance. In this unit, we begin to examine the development of law and governance in the economic realm. This has been the area where governance mechanisms have been most advanced. It has also been an arena for a considerable amount of conflict between member governments and between governments and civil society. In this unit we will be reviewing the major financial institutions, their origins and the sources of law in these areas. This section will provide important background information on the major international financial institutions (IFIs) and the various political, economic, and ideational interests that have shaped their activities to date.

Learning Objectives

When you have completed Unit 8, you should be able to achieve the following learning objectives:

1. Relate global economic governance to other forms of governance discussed in previous units
2. Identify the sources of the MEIs
3. Explain the role of the MEIs in the global political economy
4. Understand the connection between IFIs and the process of globalization
5. Understand the relationship between IFIs, states, and GSMs in the formal decision-making process of current economic issues