Biens collectifs internationaux et mondiaux ; institutions financières internationales ; coopération internationale ; stabilité financière internationale ; lutte contre la pauvreté internationale ; mondialisation économique et financière ; gouvernance mondiale.
THE PROVISION OF INTERNATIONAL AND GLOBAL COLLECTIVE GOODS BY THE INTERNATIONAL FINANCIAL INSTITUTIONS
Global environmental pollution, propagation of certain infectious diseases, international financial crises, and so on constitute as many global problems which resolution can be assimilated to the provision of international and global collective goods (IGCG), because of the globality of its advantages.
This study aims to evaluate Stiglitz’s (1998a) proposal of entrusting this task to the international financial institutions, amid the absence of a world government and following the failure of international cooperation.
Using the global governance approach, we prove the limits of this proposal and show that the participation of all actors in the international collective action, which determines the optimal provision of IGCG, is necessary.
We carry out an empirical study outlining the role of the IMF and the World Bank, respectively in ensuring international financial stability and fighting against international poverty, and show that the disappointments in the actions of these IFIs are explained largely by the absence of real engagement of the states and by the sovereignty matter.
We prove that the efficiency of the international financial system and the eradication of international poverty depend on the regulation of globalization. In this global process, the political strength of the states is decisive; the role of the IFI consists of being used as a comprehensive framework of cooperation, where collective engagement in favour of the provision of those goods is concretized; and the civil society actors’ participation results in their stimulating actions in favour of the provision of IGCG.