Warwick University's Centre for the Study of Globalisation and Regionalisation (CSGR) will become the nerve centre for a network of more than 250 international scholars, thanks to European Union support.
The EU Framework Programme 6 award of €5.4 million (£3.7 million) will enable the Warwick centre to create and lead a network of excellence on global governance, regionalisation and regulation.
The network will conduct research into how governments can act collectively to deal with issues such as infectious diseases, financial stability, terrorism, the environment, development and gender inequality.
Richard Higgott , the centre's director, described the moment he found out they had got the money: "I couldn't decide whether it was surprise or worry. One of my colleagues said it was five minutes of elation and five years of misery."
The CSGR intends to spend the money on developing a virtual information technology network and a mobility programme for researchers travelling between European institutions.
There are also plans for joint EU research projects on global governance issues and a major annual conference.
Professor Higgott said: "(The award) comes at an interesting time in contemporary European politics, given the problems that the community faces. Warwick will now be the hub for this research work on global governance and regulation."
The framework programme will run until the end of 2006 and has a budget of €19 billion.