Interconnectedness

Theme Leaders: Fariborz Moshirian, Kristle Romero-Cortes and Zhaoxia Xu

The process of globalisation, since the mid-nineteenth century,  has led to an increasingly interconnected world and international system. Despite the many weaknesses of the current international framework, numerous global challenges and opportunities are borderless and interconnected. This indicates a need to reconfigure elements of the international system to enhance resilience against global shocks and crises. Additionally, an international system should facilitate collaboration from local to global levels to increase global public goods, which serve as antidotes to many current global challenges and opportunities. The IGF will undertake significant initiatives related to global public goods, a process aimed at translating the emerging global collective consciousness into action, accelerating the delivery of global public goods such as environmental protection, as well as global peace and security.   

The IGF intends to reinforce its past engagement regarding the issues mentioned above by publishing high-impact reports, blogs, and books. As part of this process, the IGF also plans to accelerate collaborative work with world-class universities, high-profile think tanks, businesses, and policymakers, including joint publications, impactful international forums, and the distribution of its work to the public and media. 

Simultaneously, in the realm of global financial stability, regarded as another global public good, the IGF will continue its decades-long research and engagement with policymakers, the business community, and the media on strategies that can mitigate future global financial crises and promote a much more resilient global financial system than the current one. To achieve this, the IGF will pursue its ongoing collaborative projects with the Volatility and Risk Institute at New York University, intending to provide enhanced live data and advanced technology to measure and quantify issues related to global systemic risk for financial institutions and insurance companies. The live data is available on the IGF website and is updated weekly in synchronization with the V-lab at NYU. These financial indicators act as part of a warning system designed to help mitigate potential future national, regional, and/or global shocks and financial crises. The IGF and its key international collaborators, including prominent academics and policymakers such as the Bank for International Settlements, the Reserve Bank of Australia,  and the Asian Development Bank, have produced several high-impact publications on matters pertaining to systemic risk.