The G8 and Global Governance Book Series

Guiding Global Order: G8 Governance in the Twenty-First Century

Edited by
JOHN J. KIRTON
University of Toronto
JOSEPH P. DANIELS Marquette University
ANDREAS FREYTAG
University of Cologne

To purchase this book from Ashgate click here.

© John J. Kirton, Joseph P. Daniels, and Andreas Freytag, 2001

ISBN 0-7546-1502-2

Contents

Tables
Figures
Contributors
Preface and Acknowledgements
Abbreviations

1 Introduction
John J. Kirton, Joseph P. Daniels, and Andreas Freytag

PART I: THE CORE ECONOMIC ISSUES
2 Internal Macroeconomic Policies and International Governance
Andreas Freytag
3 Challenges for the Global Financial System
Juergen B. Donges and Peter Tillmann
4 U.S. Dollarization: A Second-Best Form of Regional Currency Consolidation
George M. von Furstenberg
5 Looking Askance at Global Governance
Razeen Sally

PART II: THE BROAD AGENDA
6 The G7 and the Debt of the Poorest
Barbara Dluhosch
7 Modern Concert Diplomacy: The Contact Group and the G7/8 in Crisis Management
Christoph Schwegmann
8 The G7/8 and the European Union
Klemens Fischer

PART III: NEW DIRECTIONS IN GLOBAL GOVERNANCE
9 The G20: Representativeness, Effectiveness, and Leadership in Global Governance
John J. Kirton
10 International Macroeconomic Policy Co-operation in the Era of the Euro
Martin J. G. Theuringer
11 The G7/8 and China: Toward a Closer Association
John J. Kirton
12 Corporate Governance: International Perspectives
Donald J. S. Brean
13 Creating Sustainable Global Governance
Pierre Marc Johnson

PART IV: CONCLUSION
14 The G8's Contributions to Twenty-First Century Governance
John J. Kirton, Joseph P. Daniels, and Andreas Freytag

APPENDICES
A New Challenges for the International Monetary System Helmut Schieber
B G8 Communiqué Köln 1999
C G8 Statement on Regional Issues
D Report of G7 Finance Ministers on the Köln Debt Initiative to the Köln Economic

Summit
Bibliography
Index

Tables
6.1 Key Indebtedness Ratios, 1995-1997
8.1 Topics Discussed at the 1999 Cologne European Summit and G7/8 Summit
9.1 Financial Forums and Their Membership
12.1 The Outsider and the Insider Models of Corporate Governance Compared
14.1 The Achievements of the 1999 Cologne Summit

Figures
8.1 The European Union
8.2 Influence and Interdependence in World Trade

Donald J. S. Brean is professor of finance and economics at the Rotman School of Management at the University of Toronto. Professor Brean is a graduate of the University of Toronto and the London School of Economics and Political Science. His research deals with international finance, foreign investment, and economies in transition. Recent publications include two edited volumes, Taxation in Modern China (Routledge, 1998), and Research in International Portfolio Management (2000) with John Hull.

Joseph P. Daniels is Associate Professor of International Economics at Marquette University, Milwaukee, Wisconsin, and was Visiting Professor of Economics and International Relations, University of Toronto, in 1997-98. An established scholar on the G7 Summit process, he has published widely on international economic policy processes. He is co-editor of The G8's Role in the New Millennium (Ashgate, 1999) and Shaping a New International Financial System, (Ashgate, 2000).

Barbara Dluhosch has been a lecturer at the University of Cologne since 1998, where she was a research associate sponsored by the German Research Foundation from 1995 to 1997. She is also a Visiting Professor of Economics at the University of Munich for 1999-2000, and was a visiting researcher at Stanford University from 1995 to 1996, and a research associate at the Bank of Spain in 1994. Her main research interests are international macroeconomics, trade theory, and policy.

Juergen B. Donges is currently Professor of Economics and Director of the Institute for Political Economy at the University of Cologne. He served as Vice-President of the Kiel Institute of World Economics from 1983 to 1989. From 1988 to 1991, Dr. Donges was chairman of the German Commission on Economic Deregulation and has been a member of the German Council of Economic Experts since 1992, serving as chairman since March 2000. He has written extensively on international economic issues.

Klemens Fischer has been Minister Counsellor at the Permanent Representation of Austria to the European Union since 1995. For the two previous years he was a member of the negotiating team for the accession of the Austrian Mission to the European Union in Brussels. He has been a lecturer at the Institute for Communication and Media at the Technical University in Berlin, the Institute for Political Science at the University of Siegen, the Centre for European Studies at Maastricht, and the Rotman School of Management at the University of Toronto. He is the author of Lobbying und Kommunikation in der Europäischen Union, published by A. Spitz in Berlin in 1997.

Andreas Freytag is Senior Economist and Managing Director of the Institute for Economic Policy at the University of Cologne. He has been a Visiting Scholar at the Faculty of Economics and Politics at Cambridge University, and has published widely on international economic relations and globalisation. He is currently working on the political economy of international monetary policy.

Pierre Marc Johnson is Senior Counsel with the Canadian law firm Heenan Blaikie. A former premier of the province of Quebec, he has taught law at McGill University and lectures in various fora and participates regularly in many United Nations negotiations. He is an advisor to the North American Commission on Environmental Cooperation, and was vice-chair of the National Round Table on the Environment and the Economy and chair of its foreign policy committee from 1990 to 1997. Dr. Johnson is coauthor of The Environment and NAFTA: Understanding and Implementing the New Continental Law (Island Press, 1996) and has published many articles on development and globalisation. He is a member of the Professional Advisory Council of the G8 Research Group.

John J. Kirton is Director of the G8 Research Group, Associate Professor of Political Science, Research Associate of the Centre for International Studies and Fellow of Trinity College at the University of Toronto. He has advised the Canadian Government on G7 participation and international trade and sustainable development, and has written widely on G7 summitry. He is co-author of Environmental Regulations and Corporate Strategy: A NAFTA Perspective (Oxford University Press, 1999) and co-editor of The G8's Role in the New Millennium (Ashgate, 1999) and Shaping a New International Financial System (Ashgate, 2000).

Razeen Sally is a lecturer in international political economy at the London School of Economics and Political Science and author of Classical Liberalism and International Economic Order: Studies in Theory and Intellectual History (Routledge, 1998). His research interests concentrate on trade policy-making in developing countries and countries in transition, the World Trade Organization and developing countries, and the history of economic ideas, particularly the theory of commercial policy.

Helmut Schieber is President of the Land Central Bank in Baden-Württemberg. From 1992 to 2000, he was a member of the board of the Deutsche Bundesbank, during which time he was responsible for international relations, financial markets, credit, and foreign exchange. A member of the Central Bank Council of the Deutsche Bundesbank since 1992, he is the author of Was ist der Wert des Geldes wert? (with Heinz Rapp, published by Europäische Verlagsanstalt in 1977) and has lectured extensively on monetary and economic policy issues.

Christoph Schwegmann is a doctoral research fellow of the Fritz-Thyssen Foundation at the Stiftung Wissenschaft und Politik in Ebenhausen and Berlin. He received his master's degree from the University of Mannheim. His research interests include modern concerts in international relations and European foreign and security policy.

Martin J. G. Theuringer works with Juergen Donges at the Department of Economics at the University of Cologne. He holds the Certificate of Advanced Studies from the Kiel Institute of World Economics and has worked at the Institute for Empirical Economic Research in Munich. He has published articles on international trade policy, development, and transition, as well as labour economics.

Peter Tillmann is a research assistant at the Department of Economics of the University of Cologne. He is currently at work on his doctoral thesis in the field of international finance and empirical macroeconomics.

George M. von Furstenberg holds the Robert Bendheim Chair in Economic and Financial Policy at Fordham University in New York. He was previously the Rudy Professor of Economics at Indiana University in Bloomington, Indiana. The president of the North American Economics and Finance Association, Dr. von Furstenberg has published widely on international and finance issues, including a chapter on 'Transparentising the Global Money Business: Glasnost or Just Another Wild Card in Play?' in Karl Kaiser, John Kirton, and Joseph Daniels (eds.), Shaping a New International Financial System (Ashgate, 2000). He is a member of the Professional Advisory Council of the G8 Research Group.

 

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