Reforming the World Bank: the continuing story of a failure foretold?Global Economy
Since 1944, the World Bank has been the pre-eminent institution in multilateral development finance. Its unrivalled capacity to mingle financial muscle with expert knowledge of development issues has kept at the forefront of international efforts to alleviate the suffering of the world’s poor including, currently, commitments under the rubric...
08 Dec 2015
Analyzing the Gulf States’ Global RiseGlobal Economy
During the opening decade and a half of the twenty-first century, the Gulf States emerged as increasingly visible global actors. Using their substantive energy resources and capital accumulation during the oil-price boom between 2002 and 2008 as leverage, the United Arab Emirates (UAE), Qatar, and, to a lesser extent,...
24 Nov 2015
Phoenix Rising? A decade of reform at the Organisation for Economic Cooperation and DevelopmentGlobal Economy
In May 2015, the Organisation for Economic Cooperation and Development’s (OECD’s) member countries renewed Angel Gurria’s mandate as Secretary-General of the organisation until 2021. When Gurria assumed the helm in 2006 the OECD seemed to be drifting into obscurity with some commentators recommending that the organisation be scrapped. Thanks...
10 Nov 2015
The AIIB: A multilateral development bank with Chinese characteristics?Global Economy
On 29 June, the plenipotentiaries of 57 states attended a signing ceremony in Beijing’s Great Hall of the People for the inauguration of the new Asian Infrastructure Investment Bank (AIIB). This occasion, at which 50 countries signed the Memorandum of Understanding on Establishing the AIIB (the seven remaining prospective...
08 Jul 2015
The UAE and the OECD Development Assistance CommitteeGlobal Economy
In July 2014, the UAE became a Participant in the OECD’s Development Assistance Committee (DAC). By attaining this status, reserved for non-OECD countries who nevertheless wish to contribute to DAC deliberations and learn from its collective expertise, the UAE has cemented its status as one of the world’s leading aid donors....
22 Jun 2015
Signing up not routing round: The Asian Infrastructure Investment Bank and the global economic orderGlobal Economy
Normally the investiture of a new regional economic organisation barely raises a murmur. That the new Asian Infrastructure Investment Bank (AIIB), a Chinese sponsored development bank designed to finance solutions to the region’s overwhelming infrastructural shortcomings, has been greeted with such fanfare reflects the widespread belief that it is...
28 Apr 2015