Rethinking Participation in Global Governance: Voice and Influence after Stakeholder Reforms in Global Finance and Health

International organizations and other global governance bodies make rules and decisions without input from many affected individuals, groups, firms, and governments. This has led to a democratic deficit and calls for greater participation. This book examines the consequences of stakeholder participation reforms in the global governance of health and finance, including treaty-based intergovernmental organizations, trans-governmental regulatory networks, multi-stakeholder partnerships, and private standard-setting bodies.

Format: Hardback
Length: 544 pages
Publication date: 02 June 2022
Publisher: Oxford University Press

International organizations and other global governance bodies frequently establish rules and make decisions without consulting many of the individuals, groups, firms, and governments that are affected by them. The Basel Committee on Banking Supervision, for example, which was developed by a small number of states, governs financial markets and the safety of bank deposits in over a hundred jurisdictions. Historically, the interests of developing countries, as well as non-commercial and diffuse interests within countries, have been excluded or disregarded in global governance. Scholars and practitioners have criticized this democratic deficit and called for greater participation of such marginalized stakeholders.

Against this backdrop, international institutions have introduced a variety of reforms with the goal of increasing and facilitating the participation of these excluded stakeholders. This book brings together an expert group of scholars and practitioners to investigate the consequences of stakeholder participation reforms in the global governance of health and finance.

What reforms have been introduced? Have these reforms given previously marginalized stakeholders a voice in global governance bodies? What effect have these reforms had on the legitimacy and effectiveness of global governance?

To answer these questions, the book examines treaty-based intergovernmental organizations alongside newer forms of global governance such as trans-governmental regulatory networks, multi-stakeholder partnerships, and private standard-setting bodies. Through a series of paired comparative analyses, the book provides insights into the experiences of large emerging and smaller or lower-income developing countries (Brazil v. Argentina, China v. Vietnam, India v. the Philippines) in a diver.

The book also explores the challenges and opportunities that these reforms present for developing countries, particularly in terms of their ability to participate in global governance and shape the rules that govern their health and financial systems. The authors argue that while these reforms have the potential to improve the legitimacy and effectiveness of global governance, they must be implemented in a way that is inclusive and equitable and that takes into account the specific needs and interests of all stakeholders.

In conclusion, this book provides a valuable contribution to the study of global governance and offers insights into the consequences of stakeholder participation reforms in the global governance of health and finance. It is a must-read for scholars, practitioners, and policymakers interested in understanding the challenges and opportunities of global governance in the 21st century.

Weight: 976g
Dimension: 240 x 165 x 35 (mm)
ISBN-13: 9780198852568