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N° 2000 - 22 |
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| December |
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Trade Rules and Global Governance: a Long Term Agenda
The Future of Banking in Europe |
French-German Economic Forum
7th meeting |
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The purpose in the paper "a
Long Term Agenda" is to argue that there is much more in the current anti-globalisation
crusade than the sheer amplification of anti-capitalist ideologies through media
coverage and the Internet. We interpret the recent, incipient backlash against
globalisation as a symptom of policy failure, as policy makers not only have provided
partial responses at best to legitimate concerns linked to globalisation, but
also have failed to grasp the challenges of collective action at the multilateral
level. We argue that the time is now ripe to seriously address central issues
related to global governance well beyond the remit of the WTO and that failure
to do so could result in the progressive demise of the multilateral system that
has been so effective in underpinning economic prosperity in the second half of
the 20th century. But recent experience suggests that there is a two-fold challenge
: how to enlist the civil society in the discussion (1st challenge)? what guiding
principles should underpin global governance efforts (2nd challenge)?
The approach taken in the paper about "The Future of Banking in Europe" is therefore to outline an informal microeconomic framework or "model" for the future of continental European banking. Its structure is summarised in Figure 1 at the end of the paper. Besides being informal and incomplete, this "model" has some weaknesses. Firstly, to a certain extent the intermediary variables are themselves features of banking systems which are partially observable. Secondly, they are not independent of one another. Furthermore, the lists of external factors, of intermediary variables and of observable attributes are incomplete; and last but certainly not least, the links between the elements are incomplete and highly speculative. Nevertheless, I hope that this framework will serve the purpose of structuring my presentation and the ensuing discussion.
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Abstract |
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| Governance, Collective action, Corporate
Finance, Banking, Europe, Trade rules |
Keywords |
| F4, G3, D7 |
JEL classification |
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