The G20 and Recovery and Beyond
An Agenda for Global Governance for the Twenty-First Century

The danger the world is facing today is that countries, forgetting that their economies are strongly interdependent, are “renationalizing” their economic policies, acting as if each of them were confronted with specific problems whose solutions were without externalities for the other countries. The paradox of the situation is that the feeling of urgency is disappearing at the very moment where the problems are becoming more urgent, especially if we want to avoid both a “remake” of the crisis and an acceleration of the destruction of a number of global public goods. The responsibility of the G20 is thus considerable.
That is why a group of 'experts', with no commitments other that of being citizens of the world, decided to meet to reflect on what could be done, hoping that from their reflection some useful recommendations to the powerful of this world would emerge. This group, which christened itself the Paris Group, has been constituted at the invitation of the President of The French Republic, who also presides over the destiny of the G20 this year.
About the Editors
Joseph Stiglitz
President
Initiative for Policy Dialogue (IPD)
Joseph E. Stiglitz is President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.
Jean-Paul Fitoussi
Professor of Economics
Institut d'Etudes Politiques de Paris
About the Authors
Avinash Persaud
Founder and Chairman
Intelligence Capital Limited, Warwick Commission
Avinash Persaud is Executive Chairman of Intelligence Capital Limited, a financial advisory boutique; Chairman of Elara Capital PLC, an emerging market specialist; and Chairman of Paradise Beach Limited. He was formerly the managing director at State Street Bank & Trust and global head of currency and commodity research, J. P. Morgan. He is emeritus Professor, Gresham College; Senior Fellow, London Business School; Visiting Fellow, Cambridge University; Governor, London School of Economics; Member of Council, Royal Economics Society; and 2010 President of the Economics Section, British Association for the Advancement of Science. He was Chairman, Warwick Commission on Financial Regulation; Member, Pew Task Force to the US Senate Banking Committee, Member and Chairman of the Regulatory sub-committee of the UN Commission of Experts on Financial Reform and Member, International Task Force on Financial Transaction Taxes. He is a former Visiting Scholar of the IMF and ECB and Member of the UK Treasury’s Audit & Risk Committee. He is a Member of the National Council of Economic Advisors in Barbados.
José Antonio Ocampo
Professor of Professional Practice at Columbia University and former Minister of Finance of Colombia
Columbia University
Jose Antonio Ocampo is a Professor of Professional Practice in the School of International and Public Affairs and former Minister of Finance of Colombia. He is also a Fellow of the Committee on Global Thought at Columbia University. Prior to his appointment at Columbia, Professor Ocampo served as the United Nations Under-Secretary-General for Economic and Social Affairs, and head of UN Department of Economic and Social Affairs (DESA), as Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and has held a number of high-level posts in the Government of Colombia, including Minister of Finance and Public Credit, Director of the National Planning Department, and Minister of Agriculture . Professor Ocampo is author or editor of over 30 books and has published over 200 scholarly articles on macroeconomic theory and policy, international financial issues, economic development, international trade, and Colombian and Latin American economic history.
Louis Kasekende
Chief Economist
African Development Bank
Marcello de Cecco
Professor
Department of Economics
Scuola Normale Superiore di Pisa
Born in 1939, LL.B ( Parma,1961) , B.A. Econ (Cambridge,1964) is professor of monetary and financial history at the Scuola Normale Superiore di Pisa, Going back in time, he was professor of Monetary economics at the University of Rome “La Sapienza” , at the Istituto Universitario Europeo in Fiesole and in the Faculty of economics at the University of Siena, and a lecturer in the School of Social Sciences at the University of East Anglia. He was a fellow at the Institute for Advanced Study, Princeton and at the WissenschaftsKolleg zu Berlin and held the Giannini Chair at UCBerkeley.
Henri Bourguinat
Professor
Department of Economics
University of Bordeaux IV
Bourguinat Henry, born 10 August 1933 , is a French economist, a specialist in economics and international finance.
Professor of Economics at the University of Bordeaux IV , he founded in 1974 the Laboratory of Analysis and Economic Research (SMW), a leading French research centers in monetary economics and international finance, which was associated in 1981 the National Center for Scientific Research (CNRS) and of which he was director until 1999.
Henry is the author of "Rule of 3-D" or " theory of 3D "( deregulation , disintermediation , opening-up ), he poses in 1992 in his book International Finance. More recently, in his last two books (2006 and 2007) it has sought to justify the need for decoding the genome of finance.
Francois Bourguignon
Director
Paris School of Economics
Andrei Evgenevich Bougrov
Managing Director
Interros Company
Dr. Andrei Evgenevich Bougrov is the Managing Director at Interros Company. He also serves as a Deputy Chairman of the Management Board at the firm. Dr. Bougrov joined the firm in 2002. Before joining Interros, he worked at the Union of Soviet Socialist Republics Permanent Mission to the United Nations, in the Department of International Economic Relations of the Union of Soviet Socialist Republics Ministry for Foreign Affairs, and EBRD. He graduated from the Moscow State Institute of International Relations. His major area of specialization was international economic relations. Dr. Bougrov completed the Executive Development Programme at the Harvard Business School and a Ph.D. in International Economics.
Kemal Derviş
Vice President and Director
Global Economy and Development
Nicholas Stern
Director
Asia Research Centre
London School of Economics
Kenneth J. Arrow
Faculty
Department of Economics
Stanford University
Kenneth Arrow is the Joan Kenney Professor of Economics and Professor of Operations Research, emeritus; a CHP/PCOR fellow; and an FSI senior fellow by courtesy. He is a Nobel Prize-winning economist whose work has been primarily in economic theory and operations, focusing on areas including social choice theory, risk bearing, medical economics, general equilibrium analysis, inventory theory, and the economics of information and innovation. He was one of the first economists to note the existence of a learning curve, and he also showed that under certain conditions an economy reaches a general equilibrium. In 1972, together with Sir John Hicks, he won the Nobel Prize in economics, for his pioneering contributions to general equilibrium theory and welfare theory.
Jean-Paul Fitoussi
Professor of Economics
Institut d'Etudes Politiques de Paris
Joseph Stiglitz
President
Initiative for Policy Dialogue (IPD)
Joseph E. Stiglitz is President of the Initiative for Policy Dialogue, and Chairman of the Committee on Global Thought at Columbia University. He is University Professor at Columbia, teaching in its Economics Department, its Business School, and its School of International and Public Affairs. He chaired the UN Commission of Experts on Reforms of the International Monetary and Financial System, created in the aftermath of the financial crisis by the President of the General Assembly. He is former Chief Economist and Senior Vice-President of the World Bank and Chairman of President Clinton’s Council of Economic Advisors. He was awarded the Nobel Memorial Prize in Economics in 2001.
Pérez Páez Pedro
Coordinating Minister for Economic Policy
Republic of Ecuador
President of the Ecuadorian Presidential Technical Committee to design the New Regional Financial Architecture - South Bank of the Plenipotentiary Representative of the Government of Ecuador to the themes of the NAFI, was appointed in October 2007 as Coordinating Minister for Economic Policy the Republic of Ecuador . Previously, he was deputy economy minister between December 2005 and April 2006. During his tenure, he pushed the amendment to the Hydrocarbons Law, which increased state participation in oil revenues from international oil companies.
Yongding Yu
Director, Institute of World Economics and Politics
Chinese Academy of Social Science
Yongding Yu is an Academician of Chinese Academy of Social Sciences (CASS), President of China Society of World Economy (2003-present), and Editor-in-Chief of China and the World Economy. He is a member of the Advisory Committee of National Planning for National Development and Reform of PRC, a member of the Advisory Committee of the Ministry of Foreign Affairs of the PRC and a member of the UN Committee of Development Policy. He was Director-General at the Institute of World Economics and Politics (IWEP) with the CASS (1998-2009) and member of the Monetary Policy Committee of People’s Bank of China (2004-2006). Yu Yongding received his MA in economics from Graduate School of Chinese Academy of Social Sciences and D.Phil. in economics from the University of Oxford. He has authored, co-authored and edited more than 10 books, and published numerous papers and articles on macroeconomics, international finance and other subjects.
Jim Mirrlees
Professor
Morningside College Chinese University of Hong Kong
YV Reddy
Emeritus Professor of Economics
University of Hyderabad
YV Reddy was Governor, Reserve Bank of India, from 2003 to 2008. Subsequently, he was Member of the UN Commission of Experts to the President of the UN General Assembly on Reforms of International Monetary and Financial System. Currently, he is Professor Emeritus at University of Hyderabad and an Honorary Fellow of the London School of Economics and Political Science. Dr. Reddy is on the Advisory Board of Institute for New Economic Thinking (INET) and is also on International Advisory Board of the Columbia Program on Indian Economic Policies, Columbia University, New York. He is a Member of an informal international group of prominent persons on International Monetary Reforms, and is also on the Advisory Group of eminent persons to advise the Finance Minister of India on G-20 issues. Prior to being the Governor, he was Executive Director for India, Sri Lanka, Bangladesh and Bhutan at the International Monetary Fund since August 2002. He also was Deputy Governor, Reserve Bank of India, Secretary, Ministry of Finance, and Additional Secretary, Ministry of Commerce in the Government of India. He served Government of Andhra Pradesh, India in several capacities including Principal Secretary and Secretary – Finance and Planning, Collector and District Magistrate, etc. He was also advisor for the World Bank.
Eisuke Sakakibara
Professor
Department of Economics
Keio University of Japan
Eisuke Sakakibara serves as an Advisor of VWR International Ltd. Dr. Sakakibara is an Advisor of Wipro Ltd and has been a Professor of Economics in Keio University of Japan since 1999. Dr. Sakakibara was posted as Economist, International Monetary Fund in 1971 and was the visiting Associate Professor of Economics at Harvard University. He has also served as Director-General, International Finance Bureau, Japan from 1995 to 1997. In 1997, he became the Vice Minister of ... Finance for International Affairs, Japan. Dr. Sakakibara was nicknamed "Mr. Yen" when he directed Japan's foreign-exchange policy from 1997 to 1999. He worked with the Ministry of Finance, Government of Japan since 1965. He served as a Director of Wipro Ltd., from January 1, 2002 to September 2005. He served as a Member of Advisory Board, Japan of Lehman Brothers Holdings Inc., from February 2005 to March 2005 and Lehman Brothers Inc., from February 2005 to March 2005. Dr. Sakakibara holds a B.A. in Economics from the University of Tokyo and a Ph.D. in Economics from the University of Michigan.
Heidemarie Wieczorek-Zeul
Former Minister for Economic Cooperation and Development
Germany
Heidemarie Wieczorek-Zeul is a German politician and served as Germany’s Federal Minister for Economic Cooperation and Development from 1998 to 2009. She has been a Member of the German Bundestag (Parliament) for the Social Democratic Party since 1987. Ms. Wieczorek-Zeul was previously a member of the European Parliament and served on the Committee on External Economic Relations with special focus on foreign trade, European development policy and international agreements as well as a member of the Committee on Women's Rights and Gender Equality.
Publication Information
Type | Book |
Program | - |
Posted | 02/01/11 |
Download | Not Available |
# Pages | 142 |
Publisher | Columbia University, LUISS and OFCE |
Year | 2011 |