Re: 2015 HSC Economics Marathon
Analyse how international organisations contribute to the growth of globalisation (5)
International organisations play a main role in maintaining the financial stability and monitoring economies to maintain efficient functioning.
The World Trade Organisation is the main group promoting free trade. The shift towards trade liberalisation is to encourage economies to specialise in goods and services in which they have a comparative advantage in. This leads to a growth in globalisation as economies freely trade products in which they are efficient in, leading to greater global interaction and integration.
The IMF maintains financial stability and prevents and helps economies in balance of payment crises. The IMF also contributes to the growth in globalisation as it encourages economies to undertake their structural adjustment policies before receiving help from it; these SAPs involve things such as deregulation of markets, liberalisation of trade etc, all methods which create greater convergence in an economy and thus promote globalisation.
The OECD aims to achieve high levels of economic growth and development through promotion of trade liberalisation and financial deregulation. Furthermore, this aim to promote sustainable economic growth leads to globalisation as emerging economies of the OECD try to replicate the policies implemented by the advanced economies of the OECD.
The WB provides developmental funds to developing economies. The lending of funds for social infrastructure projects in the poorest developing countries and the alleviation of poverty through aid and development projects in the developing world, encourages globalisation as it advices these developing economies on how to increase economic growth, decrease unemployment and increase trade flows. This advice includes policies that increase globalisation.
The UN also contributes to globalisation as it promotes increasing exports to achieve economic growth and development. It also aims to create a positive climate for investment which further encourages globalisation.
I dont see anything else that can be added... This answer needs to be more concise