In the aftermath of the 2008 financial crisis, global governance and the international development agenda have been changing. On the one hand, rising powers and the return of state-centred models of development have now challenged the Washington Consensus and liberal capitalism. We can observe this through debates on strategies towards inclusive development, poverty reduction and growth via resource-led industrialisation, and the return of inequality in mainstream development debates. On the other hand, there are several experiments among low and middle-income countries to combine market incentives and selective state intervention to find alternative pathways of managing globalisation. These are manifested in new social policies, re-taxation of strategic resource sectors, and increasing public expenditure and revenue-raising efforts, all under the rubric of ‘developmental states beyond the East Asian model’. The research program builds upon existing and prospective collaborations with Håvard Haarstad, Andrew Lawrence, and Kate Macdonald on the changing architecture of, and strategies in, managing risk in the global economy.
Global governance and rising powers