Columbia International Affairs Online: Working Papers

CIAO DATE: 04/2014

Boxing with Elephants: Can Canada Punch above Its Weight in Global Financial Governance?

Luke Simon Jordan, Katerina Koinis

March 2014

Centre for International Governance Innovation

Abstract

Canadians have long harboured a desire to “punch above their weight” in international diplomacy, an aspiration justified by Canada’s position in the world both geographically and culturally. This paper examines one aspect of that effort: Canada’s role in international financial governance, particularly within the International Monetary Fund. The key issue for the future is whether Canada will continue to have the capacity and the will to take leading positions and actions in the face of increasing competition from the rapidly growing emerging market countries.