This paper highlights how international organizations can use global performance indicators (GPIs) to drive policy change through transnational market pressure. When international organizations are credible assessors of state policy, and when monitored countries compete for market resources, GPIs transmit information about country risk and stabilize market expectations. Under these conditions banks and investors may restrict access to capital in noncompliant states and incentivize increased compliance. I demonstrate this market-enforcement mechanism by analyzing the Financial Action Task Force (FATF), an intergovernmental body that issues nonbinding recommendations to combat money laundering and the financing of terrorism. The FATF's public listing of noncompliant jurisdictions has prompted international banks to move resources away from listed states and raised the costs of continued noncompliance, significantly increasing the number of states with laws criminalizing terrorist financing. This finding suggests a powerful pathway through which institutions influence domestic policy and highlights the power of GPIs in an age where information is a global currency.

中文翻译：

---

黑名单、市场执法和打击恐怖主义融资的全球制度

本文重点介绍了国际组织如何利用全球绩效指标 (GPI) 通过跨国市场压力推动政策变革。当国际组织成为国家政策的可靠评估者时，当受监控的国家争夺市场资源时，GPI 传递有关国家风险的信息并稳定市场预期。在这些条件下，银行和投资者可能会限制在不合规州获得资本并激励提高合规性。我通过分析金融行动特别工作组 (FATF) 来展示这种市场执法机制，金融行动特别工作组 (FATF) 是一个发布非约束性建议以打击洗钱和资助恐怖主义的政府间机构。FATF' 不合规司法管辖区的公开上市促使国际银行将资源从上市国家转移，并提高了持续不合规的成本，从而显着增加了将恐怖主义融资定为刑事犯罪的国家数量。这一发现表明了制度影响国内政策的有力途径，并突出了 GPI 在信息成为全球货币的时代的力量。