Bruegel: An assessment of the G20's initial action items
01 September 2010
The paper reveals that the implementation of the action point depending on action by an international body that is independent in terms of administration and resources increases its efficiency.
In this policy contribution, Bruegel Senior Fellow Nicolas Veron and Stephane Rottier, National Bank of Belgium, score and grade the implementation and follow up of the 47 action items that were outlined in the G20 summit in 2008. This paper complements their policy brief titled 'Not all financial regulation is global'.
· Twenty months after the first G20 summit in Washington, the implementation of the 47 action items included in that summit’s final declaration is assessed.
· The authors analyse and provide a score for progress made using three measures: implementation of the leaders’ agenda; consistency across jurisdictions; and continuity of purpose measured by follow-up actions.
· A strong correlation is observed between the effectiveness of implementation and the nature of the main public institution(s) in charge: the more the implementation of the action point depends on action by an international body that is independent in terms of administration and resources, the more effective the implementation.
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