IMF and Global Public Goods: Seeking Anew Role in the Global Economy

• Autorzy: Dominik Kopiński , Michał Nowicki , Marek Wróblewski

Warianty tytułu

MFW i globalne dobra publiczne: w poszukiwaniu nowej roli w gospodarce światowej

• Języki publikacji: EN

Abstrakty

EN

Current global economic challenges have stimulated public demand for coordinated activities at a transnational level (as evidenced by the impact of the COVID-19 pandemic crisis). In this context, academic discourse and the forums of various multilateral organizations have invoked the concept of global public goods (GPGs). This paper explores the practical realization of the GPGs concept within the global structures of the International Monetary Fund (IMF), assessing the extent to which the wealth of services provided by the Fund may actually be considered GPGs. Approaching the subject from a theoretical perspective, the paper draws on analytical evaluations of relevant documents and IMF data sources, as well as empirical findings derived from semi-structured in-depth interviews (IDI) with representatives of international organizations (including the IMF) in Washington, DC. The findings suggest that the IMF provides a diverse array of products supportive of international financial stability (particularly 'best-shot public goods'), and may therefore be regarded as exemplifying the GPGs concept. During times of relative global economic stability, IMF expenditure shifts toward technical support and monitoring, placing the organization in a role more akin to a provider of pure public goods. However, despite the IMF enjoying a number of competitive advantages (and resources) that would seem to preordain a role as a major GPGs provider, the GPGs concept is only marginally evoked in the organization's publications and activities. Moreover, certain elements of the IMF's model of operation drastically reduce the organization's current operating capability as a GPGs provider. (original abstract)

Aktualne wyzwania w gospodarce światowej ujawniają zwiększający się popyt na różne formy koordynacji działań w skali ponadnarodowej (co uwypukla także kryzys post-COVID-19). Stąd też coraz częściej w dyskursie akademickim, a także na forach organizacji multilateralnych pojawiają się odwołania do koncepcji globalnych dóbr publicznych (GPG). Celem tego artykułu jest próba zbadania, w jakim realnie zakresie MFW wpisuje się w ten koncept oraz w jakich obszarach swojej działalności dostarcza GPG. W opracowaniu wykorzystano podejście teoretyczne oraz analizę dokumentów i danych źródłowych MFW, jak również wyniki własnych badań empirycznych (the semi-structured interviews IDI z przedstawicielami organizacji międzynarodowych w Waszyngtonie, w tym MFW). Uzyskane wyniki badań wskazują, iż MFW dostarcza zdywersyfikowane produkty w obszarze międzynarodowej stabilności finansowej (zwłaszcza best shot public goods), a zatem wpisuje się w koncept GPG. Przy czym w okresach względnej stabilności w gospodarce światowej, rosną nakłady MFW w sferach nadzoru i pomocy technicznej, co kieruje instytucję bardziej w kierunku produkcji czystych dóbr publicznych. MFW posiada przy tym przewagi komparatywne (i zasoby) predestynujące do produkcji GPG, ale sam koncept GPG bezpośrednio pojawia się jednak sporadycznie w pracach i aktywności MFW. Jednocześnie w modelu funkcjonowania MFW można zidentyfikować poważne ograniczenia redukujące zdolność operacyjną tej organizacji do produkcji GPG. (abstrakt oryginalny)

Słowa kluczowe

EN

Global public goods; Financial sustainability; International cooperation

PL

Globalne dobra publiczne; Stabilność finansowa; Współpraca międzynarodowa

• Czasopismo: Ekonomia Międzynarodowa
• Rocznik: 2023
• Numer: nr 42
• Strony: 26--56

Twórcy

autor

Dominik Kopiński

• Uniwersytet Wrocławski

autor

Michał Nowicki

• Uniwersytet Wrocławski

autor

Marek Wróblewski

• Uniwersytet Wrocławski

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Identyfikatory

DOI

10.18778/2082-4440.42.02