A New Era in Global Economic Governance

International Security Forum, 2009

9 Pages Posted: 14 Jul 2009

See all articles by Rafael Leal-Arcas

Rafael Leal-Arcas

Queen Mary University of London, School of Law

Date Written: July 10, 2009


In the midst of the most serious global economic crisis since the Great Depression, it seems pertinent to reform the current system of global economic governance. There is a widely shared assumption that a new Group of 20 nations (G-20), represented by their Finance Ministers and Central Bank Governors, may succeed the Group of 7 (G-7) in re-shaping the future of the global economic architecture. This paper addresses the importance of re-shaping the pillars of global economic governance, provides an analysis of the G-20 as the forum for such an initiative, acknowledges multipolarity and the rise of regionalism as the new global reality, and notes the lack of coordination between multilateral and regional mechanisms of economic governance.

Keywords: global economic governance, G-20, G-7, multipolarity, rise of regionalism

JEL Classification: E58, F02, F33, K33

Suggested Citation

Leal-Arcas, Rafael, A New Era in Global Economic Governance (July 10, 2009). International Security Forum, 2009, Available at SSRN: https://ssrn.com/abstract=1432520

Rafael Leal-Arcas (Contact Author)

Queen Mary University of London, School of Law ( email )

Lincoln's Inn Fields
Holborn, London WC2A 3JB
United Kingdom

HOME PAGE: http://www.ccls.qmul.ac.uk/staff/lealarcas.html

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