Study On The Supply Of International Financial Public Goods From The Logic Of Collective Action

The outbreak of the financial crisis in 2008 reflects the instability of the international financial system and exposes the problem of insufficient supply of international financial public goods.On the one hand,with the acceleration of economic integration and the frequent occurrence of regional financial crisis,the demand for international financial public goods in various countries is increasing.On the other hand,the economic growth of western developed countries led by the United States is weak,and the supply of international financial public goods is decreasing,leading to the increasingly prominent contradiction between supply and demand.In this context,as an emerging economy,China proposes to establish a new financial organization,the Asian infrastructure investment bank(hereinafter referred to as "AIIB"),to supplement and improve the existing international financial order.However,due to the economic,geographical and cultural differences between countries,it is easy to have differences on individual interests,so there will be a collective action dilemma,that is,it is difficult to reach a consensus on cooperation between countries in the supply of international financial public goods.Therefore,this paper based on the previous studies on international financial public goods.Firstly,this paper analyzes the present situation of its supply as a large country supply;secondly,it analyzes the nature of the international financial public goods of the AIIB as a whole and its operation status;then,it analyzes how to overcome the dilemma of collective action in the process of the establishment of the AIIB and how to use the infrastructure of the AIIB Investment and financing as the entry point,using the data of 57 initial member countries within the AIIB from 2015 to 2018 to verify its impact on the current economic growth and its first-order economic lag.The empirical results show that AIIB investment and financing will play a positive role in the economic development of internal member countries.Finally,the conclusion is drawn:China needs to pay more attention to international cooperation,take sustainable development as the goal,make the AIIB continuously integrate into the existing international financial system,and provide a more solid foundation for the supply of international financial public goods in Asia and even the world.