What is meant by "supranational institutions"? Give examples of such institutions.
What will be an ideal response?
There is no one global governance institution as such, but several organizations have an influence on the global economy beyond that of a particular nation. This type of organization is known as a supranational institution, an international organization that transcends national boundaries where the member states share in decision making on particular issues pertaining to the members. They are usually viewed as economic agencies, but they can also have an impact on the ethical, social, and environmental responsibilities of the corporation. Examples include: the World Bank, the International Monetary Fund, the International Labour Organization, and the World Trade Organization.
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