IFG is an alliance of leading scholars, activists, economists and researchers
from more than 40 organizations in 20 countries. Its mission is to
"rethink...and develop alternative strategies...that might reverse the
globalization trend and redirect actions toward revitalizing local economies."
IFG offers a section called "Global Financial Crisis" with reports written by
IFG members that include: "The Economic Crisis in East Asia: Causes, Effects,
Lessons;" "Background to the Global Financial Crisis;" "IMF's Role in Asian
Crisis;" and "Multilateral Agreement on Investment (MAI)."
The IFG's "Siena Declaration" criticizes current rules of globalization for
removing economic power from nations/communities and giving new powers to
corporations and financial speculators. It calls for a "Bretton Woods-type
international conference which would bring to the table not only
representatives from nation-states...but organizations from every country to
design economic models..."
This is an authoritative voice on globalization issues, especially
from the perspective of developing countries. Headquartered in Malaysia and
with offices worldwide, TWN focuses on development in the "South" or developing
world. Their website contains a large compilation of readings on the global
financial crisis, trade, environment, the IMF's actions, the UN, women's
issues, as well as an "Action Alert" area where visitors can sign on to various
Just one example of interesting reading on this site is "Brazil is a Time
Bomb" which offers these stats on the impact of the financial crisis:
"Spending cuts envisioned in the Brazilian government's deal with the IMF
include a possible 90% reduction in Amazon conservation programs...Austerity
measures will also force people facing unemployment in the cities to illegally
clear and log small-scale mining for survival...Brazil is not alone in facing
such dire consequences. Russia is considering cutting Siberian old-growth
forests--previously considered too remote to be commercially viable--to raise
desperately-needed cash, according to Friends of the Earth.... Brazil, Russia and Indonesia,
all in economic turmoil, are
home to 47% of the world's remaining ancient forests, according to the
Washington-based World Resources Institute."
The world's poorest countries owe as much as $300 billion and momentum has been building
to cancel their debts in a way that advocates say must be open, fair and
responsible. Jubilee 2000 is in the vanguard of this campaign. It is a worldwide movement with
campaigns in over 50 countries, including the U.S., Canada and Britain.
For the second year in a row, Jubilee 2000 staged a massive demonstration at the G7 conference of
wealthy nations. A human chain of 35,000 people stretching 3.5 miles long surrounded the
G7 conference center in Cologne, Germany and presented 17 million petition signatures calling
for debt relief for impoverished nations. This Jubilee 2000 site for the U.S. is comprehensive and up
to date, offering information on the issues surrounding debt relief, past and upcoming
activities, how to become involved, and links to the sites of others in the Jubilee 2000 movement.
EPI is a research and education organization that seeks to broaden economic
policy discussions to include the interests of low and middle income workers.
EPI was founded by economic policy experts including, Lester Thurow, Barry
Bluestone, Robert Kuttner, Jeff Faux and Robert Reich.
Under "Trade & Globalization," there's a range of articles on trade and
globalization issues including opinion pieces written by EPI associates. For
example, op-ed pieces such as "The Time Has Come for Real IMF Reform" and a
recent paper, "Protecting Worker Rights Around the World."
Another paper, "Rebuilding the Caribbean--A Better Foundation for
Sustainable Growth" deals with the Hurricane Mitch recovery and argues that
relief plans being considered by the U.S., especially those that focus on
liberalized trade, will only set the region up for future failure. (Note: one
needs Adobe Acrobat to read this.)
Global Trade Watch is an extension of Public Citizen, the public advocacy
organization founded by Ralph Nader. GTW advocates an international and
trading system that benefits not only transnational corporations, but also the
people that work for them and consumers.
GTW was active in the grassroots campaign which
defeated President Clinton's "fast-track" 1997 trade authority bill--which
would have pressured Congress to quickly consider completed trade agreements
with no amendments and limited debate.
Public Citizen publishes a monthly report called "Harmonization Alert!" which
advocates that "social, safety, economic and environmental standards should be
the same everywhere [across the globe]."
This independent, non-profit group provides research and education resources to
grassroots groups, unions, policymakers and journalists interested in the
Federal Reserve System and financial markets.
Under its TOPICS section, go to "Financial Markets" for several articles
examining the need for revamping financial regulations and the architecture of
global finance. Two articles: "Goodbye Washington Consensus, Hello Main
Street" and, "There is an Alternative."
FMC's newsletter"FOMC Alerts" (found in the PUBLICATIONS section) has articles
on the global contagion. (To view, one needs Adobe Acrobat reader.) Articles
here include: "Turning the Corner" by William Greider (May 1999); "Reforming
the Privatized International Monetary System" (December 1998); "Financial
Problems of a Large Hedge Fund" (December 1998, subject: Long Term Capital
Management hedge fund); "The Butterfly Effect" (June 30-July 1, 1998) (subject:
global currency instability); "This is an Efficient Market?" (March 1999);
"Private Sector Debt Grows, US Exposure to External Market Conditions
Increases" (March 1999)
CEPA, part of New York's New School for Social Research, is headed by economist
Lance Taylor and focuses on economic policy analysis. Its three areas of
emphasis are macroeconomic policy, inequality and poverty, and globalization.
Two currently-funded research projects underway include "Globalization and
Social Policy" and "International Capital Markets and the Future of Economic
Policy." Working papers (both abstracts and full text through Adobe Reader)
are available on CEPA's Website.
Titles include: "NAFTA, the Peso Crisis, and the Contradictions of the Mexican
Economic Growth Strategy;" "The Revival of the Liberal Creed: The IMF, the
World Bank and Inequality in a Globalized Economy;" "Capital Market Liberalization and Economic Performance
in Latin America;" "Financial Regulation in a Liberalized Global Environment;"
"The Asian Crisis: Competing Explanations;" and "International Capital Markets and the Future of Economic Policy"
Part of Bard College in upstate New York, this institute's economic
forecasting tries to "generate effective public policy responses to
important economic problems that profoundly affect the quality of life in the
US and abroad."
Two of the Levy Institute's four research programs include "Financial Markets
and Monetary Policy" and "International Trade and Competitiveness."
The Levy Institute offers an online quarterly newsletter, "Report, "
which has a monthly interview with a scholar or public official on a current
topic of debate (e.g. the issue of hedge funds in its February 1999 report),
synopses of conferences and seminars, reports on the Levy Institute's news and
scholars' activities, and summaris on new publications. It is geared toward a
diverse, general audience. The Levy Institute also offers Public Policy Brief Highlights which are
condensed, online statements of basic arguments and policy recommendations of
the institute's economic briefs. There are also working papers such as: "Risk
Reduction in the New Financial Architecture: Realities, Fallacies and
Proposals" and "Real Exchange Rates and the International Mobility of
This Washington D.C.-based, non-profit organization devotes itself to the
study of international economic policy. Some of the topics or papers it offers
include Fred Bergsten (director of IIE) on Exchange Systems Reform; and papers
on The Global Trading System & Global Aftershocks. Its Policy Briefs cover topics such as: "Market Mechanism to Reduce the Need
for IMF Bailouts Crawling Bands or Monitoring Bands: How to Manage Exchange
Rates in a World of Capital Mobility;" "Reviving the "Asian Monetary Fund;" "A New Strategy for the Global Crisis;"
"The Asian Financial Crisis."
There are also "Speeches, Testimony and Essays" and useful web links to other
sites about the Asian financial crisis (e.g. International Trade
Administration, Columbia East Asian Review). IIE also has country-by-country
web links guide to East Asia--under Indonesia, for example, there are links for
the Jakarta Stock Exchange; under South Korea there are links to the Bank of
Korea and the Korea Economic Weekly; Thailand: Business Day (from
An interesting web site with a collection of links to many nations' central
banks and finance ministries. For example, visitors can go to the web site of
Brazil's finance ministry where they'll find the latest headlines, such as:
"Brazil Gets US $1 billion from World Bank" or
"IMF Announces Conclusion of Staff Negotiations with Brazil."
Other categories on the site include: Currency Boards, Financial and Economic
Conferences, Monetary Research Institutes, Central Bank Research Departments,
Financial News and Central Banking History
This policy research institution focuses on the interrelationship of
globalization, which it favors, but acknowledges that the system needs
improvement. ODC describes its mission as seeking "to improve decision-making
on multilateral cooperation to promote more effective development and the
better management of related global problems."
The site offers papers and excerpts on: "The US Perspective on Globalization;"
"Environment and Trade: A Framework for Moving Forward;" "The New Global
Economy and Developing Countries: Making Openness Work;" "Managing the
International Economy in an Age of Globalization; " "US Trade Policy:
Misreading the Developing World."