Smart Governance - GEG 10th Anniversary Lecture by Dr Nemat 'Minouche' Shafik

Full title: Smart Governance: Solutions for Today's Global Economy

Author: Dr Nemat 'Minouche' Shafik, Deputy Managing Director, IMF

Abstract

In the GEG 10th Anniversary Annual Lecture, Dr Nemat 'Minouche' Shafik, Deputy Managing Director of the IMF, set out her vision for how smart governance can help us create a more resilient, more prosperous and more equitable global economy.

Dr. Shafik draws a distinction between hard governance (enforceable treaties and laws) and soft governance (voluntary standards and codes of practice). Arguing against a one-size-fits-all approach, Dr. Shafik advocated ‘smart governance’. This is a hybrid form of global governance that mixes hard and soft forms, is issues-driven and responsive to the political and economic context.