Unintended Consequences: The G20 as Global Governance

Abstract

This paper argues that the change in the nature of the G20, from what was effectively a rapid-reaction force to deal with the immediate aftermath of the financial crisis, into the self-appointed 'premier forum for our international economic cooperation' is an adverse step for all parties involved. It focuses on the agenda and membership of the group, and highlights the limitations of the G20 in terms of both its legitimacy and its efficiency. These limitations generate costs at multiple levels. The paper finally also suggests ways in which the policy relevance of the G20 might be retained and improved within a broader context of global economic governance.