The focus on global economic governance is based on the deep belief that the inequities built in international economic and social policies are a direct consequence of deep imbalances in the decision-making processes in place. Without change to such decision-making processes, reform is bound to be short-lived, incomplete and devoid of structural vision.
RBW promotes reforms of the processes for decision-making on international economic and financial policy, with the goal of ensuring that such processes are more participatory, democratic and suitable to subordinate economic policies to the international human rights legal framework, as well as its ethical underpinnings. Such processes are particularly critical when it comes to the regulation of cross-border private capital flows, as demonstrated with the onset of the 2008-09 Global Recession. Thus, its focus is not only on reform of international “formal” institutions such as, e.g., the International Monetary Fund, but also on the governance issues posed by a plethora of less formal, yet influential, arrangements that determine the adoption of standards financial sector actors have to abide by.