caa a22 4500 445859016 CHVBK 20180317145437.0 cr unu---uuuuu 170323e20110401xx s 000 0 eng 10.1007/s10290-010-0087-1 doi (NATIONALLICENCE)springer-10.1007/s10290-010-0087-1 Rajan Raghuram University of Chicago, Chicago, IL, USA aut Can soft power help the IMF make the world more stable? [Elektronische Daten] [Raghuram Rajan] In an integrated world, one of the more intractable problems we have to deal with is how to ensure all countries undertake macroeconomic policies that are in the global interest even when these go against short-term domestic political compulsions. It is unlikely that countries will sign up to a common set of policy rules, nor is it probable that peer pressure alone will convince countries to co-operate. This paper argues that multilateral institutions have to do more to sell the global policy consensus to the influential public in each country, so that leaders are pushed by domestic constituencies to internalize the global good. Rather than solely a top down process of global policy-making, where grand summits make little progress, we also need a bottom up approach, where the summiteers will feel the pressure for global deals from their primary domestic constituencies. Kiel Institute, 2011 Global trade imbalances nationallicence International monetary fund nationallicence Global governance nationallicence Review of World Economics Springer-Verlag 147/1(2011-04-01), 1-10 1610-2878 147:1<1 2011 147 10290 https://doi.org/10.1007/s10290-010-0087-1 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10290-010-0087-1 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Rajan Raghuram University of Chicago, Chicago, IL, USA aut NATIONALLICENCE 773 0- Review of World Economics Springer-Verlag 147/1(2011-04-01), 1-10 1610-2878 147:1<1 2011 147 10290 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer