A Study On Cooperation Between "Soft Institution" And "Hard Institution " In Global Governance

The International Monetary Fund(IMF)has always been one of the most important international economic organizations and has played an active and effective role in financial governance since the Second World War.However,as globalization deepens and develops,it faces more and more serious problem of governance failure in economic coordination.As a new international institution,the emergence of the G20 compensates the gap between the expansion demand for IMF governance and the lack of governance capacity precisely,which provides an opportunity and solution for the IMF reform.The classification of international institutions in academia is diverse.This paper divides international institutions into “soft institution” and “hard institution” from the perspective of a coordination framework.This paper selects the case of G20 and the International Monetary Fund's “soft” and “hard” institution for cooperation in global governance to solve the following questions: Why does the G20 and the IMF interact as two typical representatives of the “soft institution” and “hard institution”? What are the paths and ways to engage in institutional interaction? What kind of governance effect does this interactive model eventually produce?In this paper,the interaction and cooperation process between G20 and IMF in the SDR reform was analyzed from the view of institutional interaction theory,taking the “SDR reform in G20 framework” as an example,to enrich and deepen the cognition of institutional interaction theory from the empiricist level.At the same time,depth understanding and explanation "SDR reform" was required.All above in this paper can support the point of view: “soft institution” and “hard institution” can complement each other by means of interaction and cooperation in global governance,which can improve the effectiveness of crisis governance.