From Crisis Response to Global Financial Coordination: The Evolution of the FSB

In this interview for the Global Governance Innovation Platform (GGI), Daniel Bradlow traces the evolution of the Financial Stability Board (FSB) from its origins in the aftermath of the Asian financial crisis as a forum for coordinating international financial standard-setting bodies, to its current role as a central hub for monitoring vulnerabilities and reviewing financial systems across countries. He explains how the FSB expanded following the global financial crisis to include new functions such as peer reviews and systemic risk analysis, while also developing regional consultative groups to better connect global decision-making with regional perspectives. Bradlow further reflects on the broader challenges of representation in global economic governance, highlighting the limitations of the G20’s legitimacy and proposing that it adopt similar consultative structures to strengthen inclusivity, improve regional input into global policy processes, and enhance the voice and influence of emerging and middle-power countries within international financial institutions.