The failure of many observers to recognize the varied scale of the G20’s efforts — from macroeconomic rebalancing to ratification of the main anticorruption treaty — has made it harder for the G20 to gain credit for the valuable role it can play. Recent commentary over the G20 cries out for a clearer understanding of how the body functions and what it has to offer.
Part of Series
Emanating from CIGI’s G20 work program, the “CIGI G20 Papers” seek to examine and understand options for the G20 on major transnational and institutional issues, such as the response to the economic crisis, financial regulation, and the G20’s place in the processes and “architecture” of international economic governance. The first four papers to be published were originally presented at CIGI’s conference on International Governance Innovation: Issues for the 2010 Summits (May 3-5, 2010). They address questions relating to the new Financial Stability Board; the process of summitry and the G20’s effectiveness and legitimacy; the G20 and the post-crisis economic order (and by extension, the G8); and the macroeconomic stabilization framework for sustained global growth and prosperity.