Geo-Economic Fragmentation and the Future of Multilateralism

Author/Editor:

Shekhar Aiyar ; Jiaqian Chen ; Christian H Ebeke ; Roberto Garcia-Saltos ; Tryggvi Gudmundsson ; Anna Ilyina ; Alvar Kangur ; Tansaya Kunaratskul ; Sergio L. Rodriguez ; Michele Ruta ; Tatjana Schulze ; Gabriel Soderberg ; Juan P Trevino

Publication Date:

January 15, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Summary:

After several decades of increasing global economic integration, the world is facing the risk of policy-driven geoeconomic fragmentation (GEF). This note explores the ramifications. It identifies multiple channels through which the benefits of globalization were earlier transmitted, and along which, conversely, the costs of GEF are likely to fall, including trade, migration, capital flows, technology diffusion and the provision of global public goods. It explores the consequences of GEF for the international monetary system and the global financial safety net. Finally, it suggests a pragmatic path forward for preserving the benefits of global integration and multilateralism

Series:

Staff Discussion Notes No. 2023/001

Subject:

Notes:

Online Annexes

Frequency:

occasional

English

Publication Date:

January 15, 2023

ISBN/ISSN:

9798400229046/2617-6750

Stock No:

SDNEA2023001

Pages:

42

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