„Power is shifting at the global level but it is doing so unevenly across different dimensions.“ The statement of Giovanni Grevi describes the phenomenon of power shift. Such shifts happened multiple times throughout history. But they do not occur frequently and are often connected with use of force. At present there is a power shift from the western industrialized states, e.g. from member states of the European Union (EU), to Asian states, in particular China. This shift builds on the fast economic growth of the emerging countries. Yet, in spite of this growth, it is disputed to what extent the rise of these economies already transcended into power and how it will develop in the future.
The recent global financial and economic crisis was the worst one in post World War II history, because it led to an economic downturn with unprecedented global depth. The crisis emerged in the United States (US) and then spread to the EU and as well to other countries. It led to steeply rising public debt levels in western industrialized states. Many scholars, like Giovanni Grevi and Roger C. Altman, are of the opinion that the crisis accelerated the recent shift of power. During this course of time, states like China or India extended their participation within global economic governance foras, such as the International Monetary Fund (IMF) or the G20. This raises the question how the power of the European Union within these international institutions was affected by the crisis? The purpose of this thesis is to research this question.
Table of Contents
1. Introduction
1.1 Purpose of this thesis
1.2 Structure of the thesis and state of research
2. Conceptual and theoretical framework
2.1 The notion of power
2.2 Power concepts of the European Union as an international actor
2.3 Institutions in international relations theory
2.4 Concluding remarks on the conceptual and theoretical framework
3. The global financial and economic crisis and the reactions of the European Union
4. The power of the European Union in the International Monetary Fund and the G20 during the global financial and economic crisis
4.1 The International Monetary Fund
4.1.1 The function and quota structure of the International Monetary Fund
4.1.2 Development up to and during the global financial and economic crisis
4.1.3 The power of the European Union before and after the crisis
4.2 The G20
4.2.1 The structure and function of the G20
4.2.2 Development during the global financial and economic crisis
4.2.3 The power of the European Union before and after the crisis
5. Conclusion: How did the crisis affect the Unions’ power in international institutions like the IMF and the G20?
6. Bibliography
6.1 Primary Sources
6.2 Secondary Works
7. Annexes
Research Objectives and Key Topics
This thesis investigates the impact of the global financial and economic crisis on the power of the European Union within the International Monetary Fund (IMF) and the G20. It examines whether the crisis served as a catalyst for a shift in power, specifically testing the hypothesis that the crisis led to a decrease in the EU's influence within these pivotal international institutions.
- Analysis of institutional power dynamics within the IMF and G20.
- Evaluation of the "civilian," "normative," and "hegemonic" power concepts of the EU.
- Assessment of European policy coordination and coherence during the crisis.
- Comparative study of EU influence before and after the global financial turmoil.
- Application of neorealist and neoliberal institutionalist theories to global governance.
Excerpt from the Book
1.1 Purpose of this thesis
„Power is shifting at the global level but it is doing so unevenly across different dimensions.“ The statement of Giovanni Grevi describes the phenomenon of power shift. Such shifts happened multiple times throughout history. But they do not occur frequently and are often connected with use of force. At present there is a power shift from the western industrialized states, e.g. from member states of the European Union (EU), to Asian states, in particular China. This shift builds on the fast economic growth of the emerging countries. Yet, in spite of this growth, it is disputed to what extent the rise of these economies already transcended into power and how it will develop in the future.
The recent global financial and economic crisis was the worst one in post World War II history, because it led to an economic downturn with unprecedented global depth. The crisis emerged in the United States (US) and then spread to the EU and as well to other countries. It led to steeply rising public debt levels in western industrialized states. Many scholars, like Giovanni Grevi and Roger C. Altman, are of the opinion that the crisis accelerated the recent shift of power. During this course of time, states like China or India extended their participation within global economic governance foras, such as the International Monetary Fund (IMF) or the G20. This raises the question how the power of the European Union within these international institutions was affected by the crisis? The purpose of this thesis is to research this question.
Summary of Chapters
1. Introduction: Outlines the purpose of the thesis, the research hypothesis, and the methodology used to assess the European Union's changing power status.
2. Conceptual and theoretical framework: Establishes a definition of institutional power and analyzes the EU's identity through various academic concepts such as civilian, normative, and hegemonic power.
3. The global financial and economic crisis and the reactions of the European Union: Examines the timeline of the economic downturn and the subsequent policy responses taken by European member states.
4. The power of the European Union in the International Monetary Fund and the G20 during the global financial and economic crisis: Conducts an in-depth analysis of the EU’s changing influence within the IMF’s quota structure and the G20’s evolving role in global governance.
5. Conclusion: How did the crisis affect the Unions’ power in international institutions like the IMF and the G20?: Synthesizes the findings, confirming that the crisis induced a realignment that generally resulted in a loss of institutional power for the EU.
Keywords
European Union, Financial Crisis, Power Shift, IMF, G20, Institutional Power, Global Governance, Neorealism, Neoliberal Institutionalism, Economic Policy, Quota Reform, Sovereign Debt, Multilateralism, International Relations, Banking Regulation.
Frequently Asked Questions
What is the primary subject of this academic work?
The work examines how the global financial and economic crisis that began in 2007 impacted the institutional power of the European Union within the International Monetary Fund (IMF) and the G20.
What are the central thematic areas covered?
The study centers on the definition of power, the characteristics of the EU as an international actor, the institutional structure of global financial bodies, and the impact of the crisis on these structures.
What is the core research objective?
The primary goal is to assess whether the financial crisis caused a decrease in the European Union’s power within the IMF and the G20, and to identify the specific trends of this influence.
Which scientific methodology is applied?
The thesis utilizes a conceptual framework based on Michael N. Barnett and Raymond Duvall’s definition of institutional power, combined with comparative analysis of institutional developments and theoretical lenses from neorealism and neoliberal institutionalism.
What topics are discussed in the main body?
The main body details the evolution of the IMF's quota system, the G20's rise as a premier economic forum, and the specific inputs versus outcomes of EU proposals at various G20 summits.
Which keywords characterize this thesis?
Key terms include European Union, financial crisis, power shift, IMF, G20, institutional power, and global governance.
How is the distinction between the EU and its member states handled?
The author argues that the EU cannot be treated as a monolithic actor; therefore, the analysis consistently distinguishes between the power of the Union and the individual influence exerted by member states like France, Germany, the UK, and Italy.
What is the conclusion regarding the G20’s role?
The study finds that while the move from the G8 to the G20 expanded the circle of participants, it also complicated the EU’s ability to influence outcomes, leading to a general, though complex, deterioration of its relative institutional power.
Does the EU still possess significant influence?
Yes, the author concludes that the EU remains a significant actor, but warns that its institutional power is shrinking in both the IMF and the G20 compared to the pre-crisis era.
- Citar trabajo
- Jan-David Blaese (Autor), 2011, International institutions and the power of the EU, Múnich, GRIN Verlag, https://www.grin.com/document/194955
