Globe

Global Policy Lab

Generating fresh thinking and research-based policy solutions to urgent global challenges 

G-POL joins up emerging and advanced economies in designing and testing innovative, research-based and locally-rooted solutions to their common challenges

Professor Erik Berglof

The IGA’s Global Policy Lab is the right place to explore many of the most pressing global debates in order to provide an ‘antidote’ to the current wave of populism and autarky

Duncan Clark, OBE

The Global Policy Lab is an important innovation which deserves widespread support

Rt Hon Gordon Brown, former UK Prime Minister


 

 

The Launch of the Global Policy Lab (G-Pol) The Launch of the Global Policy Lab (G-Pol)

 

LSE IGA’s Global Policy Lab (G-POL) aims to harness the combined brainpower of academics, policymakers and the business community in emerging and advanced economies to generate fresh thinking and research-based policy solutions at a time when the global challenges are more urgent than ever and the multilateral system designed to address them is under attack.

G-POL serves as a laboratory for developing novel approaches, engaging in cutting-edge research and the design and testing of interventions in concrete settings, with the aim of helping emerging economies grow a strong research-based voice and shape academic and policy agendas, giving them a stronger ownership to solutions. 

G-POL engages across a wide range of policy areas, but it builds its research core around global financial governance. The governance architecture for addressing the global challenges must reflect the specific public goods to be delivered and how new technologies and innovation are expanding the universe of possible solutions.

Emerging economies already account for more than half of the world’s GDP and should assume a greater role commensurate with their growing economic and political heft. Genuine peer-to-peer collaboration with institutions and individuals in both advanced and emerging economies is key to G-POL’s research and policy engagement. 

Event Highlights 

  • LSE IGA Launch of the Global Policy Lab (G-POL)

LSE IGA marked the launch of its Global Policy Lab (G-POL)  in May 2017. Participants included Professor Raghuram RajanLord Adair TurnerLord Nicholas SternProfessor Philippe AghionProfessor Sergei GurievAssistant Professor Keyu JinVisiting Professor Mario BlejerMichael Sohlman and Duncan ClarkProfessor Erik Berglof, Director of LSE IGA welcomed and led the event, which showcased two of G-POL’s initiatives: Rethinking Global Finance, and a new growth model – Avoiding the Middle Income Trap, under the newly established Transformation Commission.

Full event programme and photos.

  • Innovations in Global Financial Governance - the Role of Emerging Economies. Buenos Aires, March 20, 2018

Our conference considered innovations in global financial governance and how they can be brought about. What have been the key innovations in terms of structures, instruments, processes and incentives? What has worked and what has not, and why? We analyzed the role and governance of international financial institutions (IFIs) as critical sources of policy advice; development finance; global financial safety nets and standard/rule setting. What are the lessons from the two most important global level innovations since the financial crisis: the G20 and the recently established IFIs sponsored by emerging economies?

The event was hosted by the Banco Hipotecario of Argentina and co-organised by the LSE Institute of Global Affairs (IGA) and its constituent Latin American and Caribbean Centre (LACC) and the Reinventing Bretton Woods Committee (RBWC).

Read the event synopsis .

  • LSE IGA Thought Leaders Event on "Fractures in Globalisation & Implications for Emerging Economies"

LSE IGA, along with its constituent centre LACC, the Institute for New Economic thinking (INET) and Centro de Investigación y Docencia Económicas (CIDE) organised a major Thought Leaders Event on Fractures in Globalisation & Implications for Emerging Economies on June 19 in Mexico City during the 18th World Congress of the International Economic Association (IEA). World renowned speakers included Nobel Laureate Joseph Stiglitz, LSE's Tim BesleyErik Berglof and Mario BlejerAndres Velasco of Columbia University, Kaushik Basu of Cornell University, Anne Krueger of John Hopkins SAIS, Robert Johnson of INET, and Chong-En Bai of Tsinghua University, along with policy makers Guillermo OrtizAlicia BarcenaMonica Aspe, Enrique Cardenas, Eva Arceo and Jorge Suarez Velez

The event covered three main topics: rethinking the global financial systempopulism from left and right; and sustainable growth to avoid the "middle income trap". The final session hosted the launch of INET's Global Transformation Commission. More information on the event's official webpage.

Read the full programme.

News 

LSE IGA is proud to support the G20's desire to engage directly with excellent academia both in advanced and major emerging economies, in line with the vision of IGA and the Global Policy Lab (G-POL) to enhance the research capacity and global policy voice of emerging economies. 

Erik Berglof served on Secretariat on G20 Group of Eminent Persons - of which Professor Nicholas Stern is a member. The Group's mission was to take forward the G20's work on the global financial architecture with special attention to financial stability and capital flows and the structure of multilateral development institutions (including the IMF), and to prepare realistic proposals for enhancing the global architecture and the leadership of the G20.

The Report of the G20 Eminent Persons Group on Global Financial Governance: Making the Global Financial System Work for All was published in October 2018.

At present, Erik is one of nine economists to serve on the EU High-Level Group of Wise Persons, tasked with evaluating European development finance.

Publications 

With the goal of positively influencing global collaboration through the agenda of the G20, B20 and G7 international summits, we sought a media partner with an expertise in this sector. The CAT Company is the publisher for these global summits, with 22 years of experience and a history of delivering high quality media content via its print and digital platforms.

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G7 Leaders, Global Briefing Report, Biarritz, France, August 2019

Read the Global Briefing Report.

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G20 Leaders Summit, Global Briefing Report, Osaka, Japan, June 2019

Read the Global Briefing Report

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B20 Business Summit, Global Briefing Report, Tokyo, Japan, March 2019

Read the Global Briefing Report

Programmes

At G-POL we are currently exploring these questions in five thematic initiatives, each with a strong global governance component: 

  • Mind the Middle Income Trap-  focussing on the challenge of achieving economic growth and creating jobs, particularly in countries with large young populations, as emerging economies pass through the structural transformation necessary to transition from investment-led to innovation-led growth. G-POL mobilises some of the best researchers in emerging and advanced economies working on this issue alongside regional and international financial institutions. 

  • Rethinking Global Finance - Demonstrating that we can bring together leading policy institutions and top academics across G20 emerging economies in pioneering research collaborations. Launched in Mumbai in early 2016 by then Reserve Bank of India Governor Raghuram Rajan, this initiative has brought together senior management and researchers from the RBI, the People’s Bank of China and the Central Bank of Russia. Current research includes a study of the impact of capital flows using firm level data, distributional impact of monetary policy, capital account opening with distorted financial system, the changing role of central banks and financial resilience.

  • Global Migration Initiative - illustrating how G-POL can create a unique network of universities and researchers in both source and recipient countries, the Alliance of Leading Universities on Migration (ALUM), currently with 20 leading universities across Europe, the Middle East and North America. 

  • Sustainable Democracy Initiative - dedicated to deepening our understanding of the root causes of the ongoing seismic shifts in many political systems in both developed and emerging economies and to designing and testing responses that can help revitalize democracy and foster institutional transformation. The G-POL Arena project analyses and tests effective counter-strategies to the problems of disinformation, polarisation and hate speech. The project brings together LSE faculty across disciplines and departments with other researchers, policymakers and activists to better understand and combat these phenomena.

  • Blue Finance initiative -  focusing on the largest yet neglected global public good: the ocean. Overexploitation, habitat destruction and pollution threaten marine and coastal ecosystems and challenge coastal resilience. The Sustainable Development Goals mention the ocean, but there are no institutional structures and means of implementation. The failure to align governance, infrastructure and finance at the global, regional and national levels affects particularly seriously emerging and developing countries. Working together with the LSE Grantham Institute we bring together academics, policymakers and other stakeholders to come up with sustainable solutions for ocean risk mitigation and adaptation.

  • Conflict Transformation Lab - bringing together academic research and broad policy experience in concrete contexts It's a 'lab within a lab.'. CTL will use new research to help policymakers and practitioners understand, prevent, resolve and transform conflict, and connect them to counterparts working on political and economic transformation. We are also supporting the establishment of a new policy coordination platform in Tunisia based on previous work in Ukraine.

 

Jin Speaking
Keyu Jin, Assistant Professor of Economics, LSE
Stern-GPol
Professor Lord Nicholas Stern, LSE