Mechanisms of global governance: economic analysis
The coordination of economic activity at the global level is carried out through different mechanisms, which regulate activities of companies, states, international organizations. Despite the diversity of entrenched mechanisms of governance in different areas, they can be classified on the basis of key characteristics, including distribution of property rights, mechanisms of transactions governance, mechanisms of expansion. This approach can contribute not only to classifying existing institutions but also to designing new ones. The modern aggravation of global problems may require rethinking mechanisms of global governance. The authors offer the universal framework for considering this problem and its possible solutions.
global governance, mechanisms of governance, global problems, global externalities