Institutional Innovations in Global Governance

Abstract

Global governance has recently confronted numerous crises, from the Global Financial Crisis to Covid-19. The immediate threats that are inherent in crisis situations frequently induce governance innovations, such as the multi-stakeholder COVAX initiative for Covid-19 vaccines. However, crisis innovations often fail to achieve their goals. COVAX, for example, did not prove strong enough to overcome the exclusive acquisition policies of powerful states and the patent protections of potent pharma companies. Against this backdrop, this panel is interested in a systematic analysis of how and with what effects crises prompt governance innovations. It puts a particular emphasis on how institutional diversity -- the presence of various types of formal and informal institutions -- affects the frequency, form, effectiveness, and longevity of crisis-fueled governance innovations.

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