Joint Responsibility Shared Rewards: The Managing Director’s Global Policy Agenda
Source details
- Canonical URL
- Joint Responsibility Shared Rewards: The Managing Director’s Global Policy Agenda
Other formats
Bibliographic details
- Published: April 11, 2019
Context and principal findings
- International cooperation, economic and financial integration, and technological progress have delivered enormous benefits across the globe during the past decades.
- In many countries, these benefits have not been shared adequately, contributing to eroding trust in institutions and weakening support for the global system that enabled those gains.
- Rising disengagement coincides with major global challenges: rapid technological advancements, uncertainty about the future of work, demographic shifts, environmental degradation, and climate change.
- These challenges require a "new multilateralism" that instills confidence that the costs and rewards of lasting solutions will be shared by all.
Framework of the new multilateralism
- The concept hinges on three complementary and reinforcing areas of policy action:
- Domestic policies to build more resilient economies and promote economic opportunities.
- Upgraded global cooperation to provide a more level playing field across borders.
- A commitment to work together on broader global challenges.
Policy implications and recommended focus areas
- Policymakers should re-orient domestic and international policies to better manage the economic and social consequences of international integration and technological advancements.
- Policy design should be mindful of the global footprint of national actions.
- Strengthening multilateral cooperation is necessary to address cross-border spillovers and ensure shared responsibility for common global problems.
Additional page elements (as presented on the page)
- The IMF eLibrary offers over 25,000 IMF publications in multiple formats.
- The publication is available in multiple languages: русский, français, español, 中文, العربية, 日本語.
Source: Joint Responsibility Shared Rewards: The Managing Director’s Global Policy Agenda, April 11, 2019 — International Monetary Fund — https://www.imf.org/en/publications/policy-papers/issues/2019/04/11/managing-director-global-policy-agenda-spring-2019
Content in this bundle
- The Managing Director’S Global Policy Agenda