Global Economic Governance: A New Regime through Soft Law?

Abstract

Since the onset of the current economic crisis, a global debate on the regulation of the new economic reality has intensified. Challenging three traditional governance assumptions (the Westphalian system of states, national policies and its hard-law norms), the paper will examine the activities of the Group of 20 towards developing a new global economic regime, drawing on aspects of the regime theory and global governance concepts. After analyzing three distinct models of supranational governance, the paper will show the relevance of soft law in successful implementation of new global norms.

Keywords

Global Governance, Regime, Regulation, G-20, Soft Law.

Citation

Filipovic, Miroslava and Buncic, Sonja, “Global Economic Governance: A New Regime through Soft Law?”, Uluslararası İlişkiler, Volume 11, No. 44 (Winter 2015), pp. 101-120.

Affiliations

• Miroslava FILIPOVIC, Dr., EDUCONS University
• Sonja BUNCIC, Dr., Faculty of Technical Sciences, University of Novi Sad