IT IS FOR GLOBAL GOVERNANCE TO SHARPEN UP INTERNATIONAL RELATIONS BY FULFILLING A FIDUCIARY ROLE AND CARRYING OUT THE BROKERAGE OF ASYMMETRIC INFORMATION

This paper argues that there are qualifying grounds for global governance to make a contribution to the study of International Relations. Starting with the Westphalian state model and its compromises, it moves on to outline the realist and liberal approaches. Next, it frames the concept of plain governance, expanding on its varieties of public and global scope. Then, it sets up a toolbox to address World Politics issues from the standpoint of governance. Afterwards, it lays the foundations of two functions by which global governance may bridge some gaps left open by realism and liberalism. The first one involves the fiduciary role in international relations. The second displays how global governance structures carry out the brokerage of asymmetric information. Key words: governance, global governance, public governance, asymmetric information, fiduciary role, realism and liberalism.