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Pierre Siklos Publications
This Time Is Not Different: Blaming Short Sellers
History, in the form of economic crises, does indeed repeat itself. But there are wide variations across the experiences of individual countries and across time, and the response of policy makers often determines the severity of the recessions that usually accompany financial crises of all types. This policy brief provides a brief history of short selling and its critics, and considers the question of whether a “herd-like mentality” exists during financial crises.
Giving Up (Some) Sovereignty Is Hard to Do: The Continuing Neglect of Global Economic Governance
The heady days of the London and Pittsburgh summits of 2009 are gone. The spectre of the advanced world entering a “lost decade” is a real prospect. Governments are withdrawing stimulus as quickly as it was introduced. Mismanagement of the euro zone has largely eroded confidence to deal with the crisis that threatens to tear apart the single currency area. We are no nearer to a resolution of the euro crisis.
The G20 Agenda and Process: Analysis and Insight by CIGI Experts
These 21 CIGI commentaries analyze the policy issues and debates under discussion in 2010 that are still relevant to the ongoing G20 agenda under the French presidency and the G20’s aspirations for the future.
When Good Intentions are Not Enough: Lessons of Past Cooperation Attempts for the G20 Stability Framework
At the Pittsburgh Summit, the G20 announced a new “Framework for Strong, Sustainable and Balanced Growth.” Within this Framework, leaders pledged to pursue responsible fiscal policies, prevent destabilizing credit and asset price cycles, promote more balanced external accounts, undertake structural reform to increase their potential growth rates and, where needed, improve social safety nets. But cooperation is easier said than done. The Pittsburgh summit may be remembered as the high water mark of G20 cooperation on global imbalances, unless officials draw lessons from past attempts at international economic reform.
Flashpoints for the Pittsburgh Summit
CIGI Special G20 Report: Flashpoints for the Pittsburgh Summit is a compendium of brief policy papers by respected academics and practitioners who have studied the G20. The Special Report highlights the breadth of CIGI's research into economic governance, financial regulatory reform and regulation, international trade, and the capacity of the expanded G20 leadership to resolve and ideally prevent future crises.