Informal Networks and Global Institutions

The video discusses the emergence of informal institutions over the past 30 years as a result of globalization. These networks of national government officials, such as central bankers and securities commissioners, have been communicating internationally. However, these networks are not being used productively. The video suggests connecting these informal networks to formal institutions like the IMF and G20 to create a more representative and effective global financial network that can quickly implement policies and ideas.

What has been a significant factor in the development of informal institutions over the past 30 years?

• Technological advancements

• Globalization

• Cultural exchanges

• Economic recessions

Which group of officials is mentioned as part of the informal networks?

• Military leaders

• Central bankers

• Healthcare professionals

• Educational administrators

How are informal networks compared to corporate and non-governmental organizations?

• They are similar in their global communication

• They are less effective

• They are less widespread

• They are more regulated

What is a major issue with the current use of informal networks?

• They are too complex to understand

• They are not being used productively

• They are not recognized by governments

• They are too expensive to maintain

What is suggested to improve the use of informal networks?

• Increasing their funding

• Limiting their scope

• Connecting them with formal institutions

• Disbanding them

Which formal institutions are mentioned as potential connections for informal networks?

• World Health Organization

• United Nations

• IMF and G7

• World Trade Organization

What is the ultimate goal of integrating informal networks with formal institutions?

• To limit international cooperation

• To create a more representative global system

• To increase bureaucracy

• To reduce global communication

What is emphasized as a key benefit of using these networks effectively?

• Enhancing cultural diversity

• Increasing competition

• Reducing costs

• Coordinating policy and implementing new ideas