MANAGING GLOBAL INSTITUTIONS
Obiettivi formativi
By the end of the semester, students will be able to critically evaluate the institutional design, effectiveness, and legitimacy of both formal and informal global governance. Emphasis will be placed on articulating complex ideas clearly and precisely, as well as engaging critically with policy debates surrounding institutional change and global cooperation bodies.
Risultati di apprendimento attesi
Through engagement with case studies, students will explore how global governance is increasingly fragmented and contested. They will also develop the ability to formulate and defend evidence-based arguments regarding the reform potential and limitations of international institutions, drawing on both empirical case studies and normative considerations. In addition to enhancing their theoretical and empirical knowledge, students will strengthen their communication skills through structured class discussions, oral presentations, and written assignments.
Contenuti Del Corso
This graduate course offers an interdisciplinary exploration of the theory and practice of global institutions, blending international relations, economics, and political economy. Students examine the formation, evolution, and reform of major multilateral organizations such as the IMF, World Bank, WTO, G7, G20, and FSB, as well as select EU institutions and informal actors like BRICS. By combining theoretical frameworks with historical and contemporary case studies, the course investigates how these institutions address cross-border challenges in finance, trade, and development, while analyzing how power dynamics, institutional design, and reform debates shape their effectiveness. Delivered in an interactive format, the course emphasizes active, discussion-based learning and builds cumulatively from foundational concepts, highlighting the interplay between global and regional institutions, state and non-state actors, and North-South relations.
Testi Di Riferimento
A detailed reading list -- beyond the required readings set below -- will be distributed in class.
Metodologie Didattiche
Each week focuses on a specific theme or institution central to the evolution of international governance, beginning with theoretical foundations and progressing through historical case studies, major multilateral organizations, regional institutions, informal governance mechanisms, and emerging actors. Students are expected to complete all readings before class and actively participate in critical discussions. The course emphasizes cumulative learning: theoretical insights and historical episodes in the early weeks will serve as reference points for understanding contemporary debates and institutional innovations in later sessions. Students will be assessed through a combination of policy-simulation memos, in-class presentations and active engagement, and a final exam. The course is reading-intensive and interactive, designed to foster analytical depth, conceptual clarity, and policy-relevant thinking.
Modalità di verifica dell'apprendimento
Student performance will be assessed through a combination of individual and collaborative assignments designed to foster analytical depth, written clarity, and active engagement. Specifically, grades will be based on the following components:
In-Class Participation: 15%. Active participation is a core component of the course and is critical to fostering an engaging and intellectually vibrant learning environment.
Presentation: 25%. Each student will participate in a small-group presentation with no more than three peers in total, focusing on a week’s theme and readings.
Presentation: 25%. Each student will participate in a small-group presentation with no more than three peers in total, focusing on a week’s theme and readings.
Crisis Memo: 30%. Students are asked to step into the role of a senior-ranking official (e.g., at the IMF, G20 Secretariat, World Bank, ECB, or national Ministry of Finance) responding to a hypothetical yet plausible economic, financial, or global governance crisis by advising leadership on how to react.
Final exam: 30%. The final exam will consist of questions designed to assess students’ ability to synthesize theoretical frameworks, critically evaluate the role and effectiveness of global institutions, and apply course concepts to contemporary governance challenges.
Criteri per l’assegnazione dell’elaborato finale
Passing grade of at least 28/30.
Settimana 1
Do We Need Global Institutions?
Objectives
• Understand foundational theories of institutions and development
• Evaluate the need for supranational governance frameworks
• Explore how global crises challenge institutional effectiveness
Discussion Questions
• What are the core functions of global institutions?
• How does institutional theory explain development outcomes?
• What limitations did the 2007-09 global financial crisis expose in existing governance structures?
Required Readings
Portes, Alejandro. “Institutions and Development: A Conceptual Reanalysis”, Population and Development Review, vol. 36, n. 2, pp. 13–36. Hoboken, NJ, USA: Wiley, 2022. https://doi.org/10.1111/j.1728-4457.2006.00117.x.
Lopez-Claros, Augusto; Dahl, Arthur L.; Groff, Maja. “Background”, Global Governance and the Emergence of Global Institutions for the 21st Century, pp. 1–78. Cambridge, UK: Cambridge University Press, 2020. https://www.cambridge.org/core/books/global-governance-and-the-emergence-of-global-institutions-for-the-21st-century/background/FDF1E60706E1A866B63BF095A7EBA136.
Boughton, James; Lombardi, Domenico; Malkin, Anton. “The Limits of Global Economic Governance after the 2007–09 International Financial Crisis”, Global Policy, vol. 8, pp. 30–41. Hoboken, NJ, USA: Wiley, 2017. https://onlinelibrary.wiley.com/doi/10.1111/1758-5899.12430.
Settimana 2
League of Nations and precursors to the current international order
Objectives
• Analyze the League of Nations as an early attempt at multilateralism
• Assess its institutional strengths and political weaknesses
• Trace precedents to the UN and Bretton Woods system
Discussion Questions:
• What were the League’s major institutional innovations?
• Why did it ultimately fail to prevent war?
• How do modern IOs reflect its legacy?
Required Readings
Hirschmann, Gisela. “Cambridge Review of International Affairs”, Crisis Management in International Organisations: The League of Nations’ Response to Early Challenges, vol. 37, n. 5, pp. 1–19. Abingdon, UK: Routledge, 2023. https://www.tandfonline.com/doi/full/10.1080/09557571.2023.2271984.
Pedersen, Susan. “Back to the League of Nations”, The American Historical Review, vol. 112, n. 4, pp. 1091–1117. Oxford, UK: Oxford Academic, 2007. https://doi.org/10.1086/ahr.112.4.1091.
Niemeyer, Gerhart. “International Organization”, The Balance Sheet of the League Experiment, vol. 6, n. 4, pp. 537–558. Cambridge, UK: Cambridge University Press, 1952. https://www.jstor.org/stable/2704792.
Settimana 3
The Bretton Woods Conference and its resulting architecture
Objectives
• Understand the historical context and design of the Bretton Woods system
• Evaluate the strengths and limits of its architecture
• Trace its transformation post-1971
Discussion Questions
• What global conditions led to the Bretton Woods Agreement?
• How did the institutions evolve after the gold standard?
• What alternative models of governance are emerging today?
Required Readings
de Vries, Margaret Garristen. “The Bretton Woods Conference and the birth of the International Monetary Fund”, The Bretton Woods-GATT System, pp. 1–16. Abingdon, UK: Routledge, 1996. https://www.taylorfrancis.com/chapters/edit/10.4324/9781315700212-2/bretton-woods-conference-birth-international-monetary-fund-margaret-garritsen-de-vries.
Elson, Anthony. “The Breakdown of the Bretton Woods System and First Reform of the International Financial Architecture”, Governing Global Finance, pp. 49–74. New York, USA: Palgrave Macmillan, 2011. https://doi.org/10.1057/9780230118010_4.
Grabel, Ilene. “Toward a Pluripolar Global Financial Architecture? The Bretton Woods Institutions and the New Landscape of Developmental Finance”, Review of Radical Political Economics, vol. 50, n. 4, pp. 653–659. Thousand Oaks, CA, USA: SAGE Publications Inc., 2018. https://doi.org/10.1177/0486613418761894.
Settimana 4
IMF
Objectives
• Analyze the IMF’s governance and policy tools
• Assess debates on IMF legitimacy and reform
• Explore the IMF's evolving role in debt and climate issues
Discussion Questions
• How does the IMF balance creditor and debtor interests?
• Are reforms addressing legitimacy concerns?
• Should the IMF take on broader development or climate roles?
Required Readings
Woods, Ngaire; Lombardi, Domenico. “Uneven Patterns of Governance: How Developing Countries Are Represented in the IMF”, Review of International Political Economy, vol. 13, n. 3, pp. 480–515. London, UK: Taylor & Francis, 2006. https://doi.org/10.1080/09692290600769351.
Boughton, James; Brooks, Skylar; Lombardi, Domenico. “IMF Lending Practices and Sovereign Debt Restructuring”, Centre for International Governance Innovation (CIGI), n. 41. Waterloo, Canada: June 2014. https://www.cigionline.org/static/documents/cigi_pb_41.pdf.
Lombardi, Domenico. “Asymmetries in the International Monetary System”, Global Financial Crises, edited by Kirton, John, Savona, Paolo and Chiara Oldani. London, UK: Taylor & Francis, 2011. https://www.taylorfrancis.com/chapters/edit/10.4324/9781315584843-22/asymmetries-international-monetary-system-domenico-lombardi.
Lombardi, Domenico (2008). “Bringing Balance to the International Monetary Fund Reform Debate”. Washington D.C., USA: Brookings Institution, October 2008. https://www.brookings.edu/articles/bringing-balance-to-the-international-monetary-fund-reform-debate/.
Settimana 5
World Bank Group
Objectives:
• Evaluate the internal governance of the World Bank
• Understand stakeholder power and influence
• Explore development mandates and project outcomes
Discussion Questions:
• How is power distributed within the World Bank?
• Does corporate governance theory improve accountability?
• How do donor interests shape Bank priorities?
Required Readings
Lombardi, Domenico. “The Governance of the World Bank: Lessons from the Corporate Sector”, The Review of International Organizations, vol. 3, pp. 287–323. Springer Nature, 2008. https://doi.org/10.1007/s11558-008-9036-3.
Kaja, Ashwin; Werker, Eric. “Corporate Governance at the World Bank and the Dilemma of Global Governance”, The World Bank Economic Review, vol. 24, n. 2, pp. 171–198. Oxford, UK: Oxford University Press, 2010. https://academic.oup.com/wber/article/24/2/171/1729197.
Clark, Richard; Dolan, Lindsey R. “Pleasing the principal: U.S. influence in World Bank policymaking”, American Journal of Political Science, vol. 64, n. 3, pp. 685–699. Hoboken, NJ: Wiley, 2020. https://doi.org/10.1111/ajps.12531.
Settimana 6
World Trade Organization
Objectives
• Understand WTO principles and dispute settlement
• Assess critiques of WTO judicial activism
• Explore WTO’s relevance in the age of nationalism
Discussion Questions
• What are the economic justifications for trade rules?
• Has the WTO overstepped its mandate?
• What reforms could preserve multilateral trade governance?
Required Readings
Bagwell, Kyle; Staiger, Robert W. “The World Trade Organization: Theory and Practice”, Annual Review of Economics, vol. 2, no. 1, pp. 223–256. Palo Alto, CA, USA: Annual Reviews Inc., 2010 https://doi.org/10.1146/annurev.economics.102308.124500.
Howse, Robert. “The World Trade Organization 20 Years On: Global Governance by Judiciary”, European Journal of International Law, vol. 27, n. 1, pp. 9–77. Oxford, UK: Oxford University Press, 2016. https://doi.org/10.1093/ejil/chw011.
Baldwin, Richard. “The World Trade Organization and the Future of Multilateralism”, European Journal of Economic Perspectives, vol. 27, n. 1, pp. 95–116. Oxford, UK: Oxford University Press, 2016. https://www.aeaweb.org/articles?id=10.1257/jep.30.1.95.
Settimana 7
G7 and G20
Objectives:
• Compare the evolution and roles of G7 and G20
• Explore their impact on global financial regulation
• Evaluate criticisms of informality and legitimacy
Discussion Questions
• Are the G7 and G20 effective or symbolic?
• How inclusive are these formats for emerging powers?
• Should the G20 institutionalize further?
Required Readings
Gallagher, Kevin P. “Good Talk, Little Action: The Limits of the G20”, Ruling Capital: Emerging Markets and the Reregulation of Cross-Border Finance, pp. 155–168. Ithaca, NY, USA: Cornell University Press, 2015. http://www.jstor.org/stable/10.7591/j.ctt1287ds5.11.
Lombardi, Domenico; St. Amand, “S. Prioritizing international monetary and financial cooperation for the G20: Views from the T20”, Policy Brief N. 63. Waterloo, Canada: Centre for International Governance Innovation (CIGI), 2015. https://www.files.ethz.ch/isn/193333/pb_no.63_web.pdf.
Hajnal, Peter. “Whither the G7 and G20?”, Canadian Foreign Policy Journal vol. 28, n. 2, pp. 127–143. London, UK: Taylor & Francis, 2022. https://doi.org/10.1080/11926422.2022.2027797.
Settimana 8
FSB
Objectives
• Analyze the origins and mandate of the FSB
• Discuss its role in global regulatory coordination
• Evaluate its legitimacy and effectiveness
Discussion Questions
• Is the FSB sufficiently transparent and inclusive?
• How has it shaped post-crisis regulation?
• What gaps remain in the global financial safety net?
Required Readings
Griffith-Jones, Stephany, Eric Helleiner, and Ngaire Woods. “The Financial Stability Board: An Effective Fourth Pillar of Global Economic Governance?” Waterloo, Canada: Centre for International Governance Innovation, June 2010. https://www.cigionline.org/sites/default/files/fsb_special_report_2.pdf.
Pagliari, Stefano. “Governing Financial Stability: The Financial Stability Board as the Emerging Pillar in Global Economic Governance”, Handbook of Global Economic Governance”. Abingdon, Oxfordshire, UK: Routledge, 2013. https://openaccess.city.ac.uk/id/eprint/6814/.
Moschella, Manuela. “Designing the Financial Stability Board: a theoretical investigation of mandate, discretion, and membership”, Journal of International Relations and Development, vol. 16, pp. 380–405. London, UK: Palgrave Macmillan, 2016 https://doi.org/10.1057/jird.2012.10.
Settimana 9
Networks as a form of transnational governance
Objectives
• Introduce network theory in global governance
• Explore informal governance and norm diffusion
• Evaluate effectiveness of public-private networks
Discussion Questions
• How do networks differ from traditional IOs?
• What are their strengths and limitations?
• Are they a complement or challenge to state-based governance?
Required Readings
Roger, Charles; Dauvergne, Peter. “The Rise of Transnational Governance as a Field of Study”, International Studies Review, vol. 18, n. 3, pp. 415–437. Oxford, UK: Oxford University Press, 2016. https://doi.org/10.1093/isr/viw001.
Kalfagianni, Agni; Partzsch, Lena; Widerberg, Oscar. “Transnational Institutions and Networks”, Architectures of Earth System Governance: Institutional Complexity and Structural Transformation, pp. 75–96. Cambridge, UK: Cambridge University Press, 2020. https://www.cambridge.org/core/books/architectures-of-earth-system-governance/transnational-institutions-and-networks/440235F12CACD5C8CCCDE9E6A5BC3243.
Westerwinter, Oliver. “Transnational governance as strategy? Mapping and explaining the European Union’s participation in transnational public-private governance initiatives”, Journal of European Integration, vol. 44, n. 5, pp. 695–713. London, UK: Routledge, 2022. https://doi.org/10.1080/07036337.2022.2086981.
Settimana 10
Regional financial arrangements
Objectives
• Define RFAs and their interaction with the IMF
• Assess regionalism in the global financial system
• Explore challenges of coherence and fragmentation
Discussion Questions
• Why do countries pursue RFAs?
• Can they offer better crisis response than global institutions?
• What risks do overlapping mandates pose?
Required Readings
Henning, C. Randall. "Regional Financial Arrangements and the International Monetary Fund: Sustaining Coherence in Global Financial Governance". Waterloo, Canada: Centre for International Governance Innovation, January 2020. https://www.cigionline.org/sites/default/files/documents/RFAs%20and%20the%20IMF%20web_1.pdf.
Kring, William N.; Grimes, William W. “Leaving the Nest: The Rise of Regional Financial Arrangements and the Future of Global Governance”, Development and Change, vol. 50, n. 1, pp. 72–95. Hoboken, NJ, USA: Wiley, 2019. https://doi.org/10.1111/dech.12471.
Kawai, Masahiro; Lombardi, Domenico. “Financial Regionalism”, Finance & Development, vol. 49, n. 3. Washington D.C., USA: International Monetary Fund, 2012. https://www.imf.org/external/pubs/ft/fandd/2012/09/kawai.htm.
Settimana 11
EU Institutions with focus on ECB and SSM
Objectives
• Understand the EU’s financial governance architecture
• Assess ECB policies during crises
• Explore the creation and limits of the SSM
Discussion Questions
• How does the EU balance national vs. supranational authority?
• Was the ECB successful in preserving the euro?
• What lessons does the SSM offer for global banking regulation?
Required Readings
Moloney, Niamh. “The European Union in International Financial Governance”, The Russell Sage Foundation Journal of the Social Sciences, vol. 3, n. 1, pp. 138–52. New York, USA: Russell Sage Foundation, 2017. https://www.rsfjournal.org/content/3/1/138.
Lombardi, Domenico; Moschella, Manuela. “The government bond buying programmes of the European Central Bank: an analysis of their policy settings”, Journal of European Public Policy, vol. 23, n. 6, pp. 851–870. Abingdon, UK: Routledge, 2015. https://doi.org/10.1080/13501763.2015.1069374.
Lombardi, Domenico; Moschella, Manuela. “Domestic preferences and European banking supervision: Germany, Italy and the Single Supervisory Mechanism”, West European Politics, vol. 39, n. 3, pp. 462–482. Abingdon, UK: Routledge, 2016. https://doi.org/10.1080/01402382.2016.1143242.
Settimana 12
The rise of BRICS
Objectives
• Assess BRICS as a counterweight to the G7
• Analyze internal diversity and external coherence
• Evaluate implications for global economic order
Discussion Questions
• What unites and divides the BRICS bloc?
• Can BRICS reshape global governance?
• Are they system-challengers or reformers?
Required Readings
Anand, Prathivadi B.; Comim, Flavio; Fennell, Shailaja. “BRICS and emerging economies: An assessment”, Handbook of BRICS and Emerging Economies. Oxford, UK: Oxford University Press, 2020. https://doi.org/10.1093/oso/9780198827535.003.0001.
Cochrane, Logan; Zaidan, Esmet. “Shifting global dynamics: an empirical analysis of BRICS + expansion and its economic, trade, and military implications in the context of the G7”, Cogent Social Sciences, vol. 10, n. 1. Oxfordshire, UK: Taylor & Francis, 2024. https://doi.org/10.1080/23311886.2024.2333422.
Mooradian, Maximilian G. “The BRICS challenge to the G7 established international order”. Philadelphia, USA: Foreign Policy Research Institute, 2024. https://www.fpri.org/article/2024/09/the-brics-challenge-to-the-g7-established-international-order/?utm.