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Institutions include formal international bodies such as the European Union or the International Monetary Fund. These bodies exert considerable influence over global economic integration. Whether or not this influence is positive or negative depends in part on the objectives of the institution. Some, such as the IMF and World Bank actively work towards global economic integration. The latter is active in building intellectual property rights in the developing world, a key antecedent to sustainable economic growth (UN, 2003). Other institutions such as the European Union have enhanced integration within a particular bloc, but have not necessarily contributed outside of that bloc, leaving such matters to its constituent nations. Other bodies, such as the United Nations, contribute research to help improve policy formation, even if they often have these bodies have no legislative capacity of their own

It is difficult to determine the exact impact of institutions on global economic integration. It is clear that some institutions have a strong positive impact on the amount of integration attained. But many other institutions, in the pursuit of their own interests, have little positive impact or many even have a negative impact on global integration. In future the picture is even muddier.

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