The New G20 Politics of Global Economic Governance

Luckhurst, Jonathan

doi:10.17323/1996-7845-2020-02-03

Cited by 3 publications

(3 citation statements)

References 27 publications

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“…Within the G20, the commitment to multilateralism is reflected in the joint efforts of member countries to create efficient and fair global economic governance. This forum, comprising government representatives and international institutions, builds broad cooperation to support better global economic governance (Luckhurst, 2020). In the neoliberal order, this cooperation involves various policies, including free trade, cross-border investment, and collaboration in addressing global economic issues.…”

Section: Results and Discussion Dynamics Of Economic Diplomacymentioning

confidence: 99%

“…Indonesia takes strategic steps by identifying priority investment sectors, integrating them with the national development agenda, and improving the investment climate, including efforts to reduce political costs that may hinder investment in Indonesia. Through this approach, Indonesia not only contributes to the success of the G20 forum and the stability of the global economy but also ensures that its economic diplomacy aligns with the vision of inclusive and sustainable national development (Purwati et al, 2023;Luckhurst, 2020).…”

Section: Indonesia's Economic Interests In the G20mentioning

confidence: 99%

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Indonesia’s Strategic Engagement in G20: The Role of Economic Diplomacy in Advancing National Interests and Fostering Inclusive Global Economic Growth

Prasetyo

2023

JIMKES

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Economic diplomacy as a key instrument in advancing national interests and supporting inclusive global economic development. G20, as a major economic forum involving both developed and developing nations, provides a strategic platform for Indonesia to participate in multilateral negotiations and cooperation. This research employs a qualitative approach, focusing on document analysis, literature review, and a comprehensive understanding of Indonesia’s role in G20. Relevant data were gathered from official sources, including Indonesia’s government statements, G20 documents, and B20 policy reports. The analysis aimed to identify Indonesia’s economic diplomacy strategies, the impact on economic growth, and efforts to build networks within G20. Indonesia, as a G20 member, not only conducts economic diplomacy for national interests but also contributes to a more inclusive and sustainable global development. The stable economic growth, supported by effective economic diplomacy strategies, has positioned Indonesia as a key player in shaping the G20 agenda. Through participation in G20, Indonesia facilitates constructive dialogue between the private sector and the government, strengthening synergy to achieve shared economic development goals. This research provides in-depth insights into Indonesia’s role in G20, emphasizing how economic diplomacy serves as a potent instrument for achieving national and regional success. The implications of these findings extend beyond the G20 context, offering perspectives on how developing countries can play a significant role in shaping a more equitable and sustainable global economic development.

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Section: Results and Discussion Dynamics Of Economic Diplomacymentioning

confidence: 99%

Section: Indonesia's Economic Interests In the G20mentioning

confidence: 99%

Indonesia’s Strategic Engagement in G20: The Role of Economic Diplomacy in Advancing National Interests and Fostering Inclusive Global Economic Growth

Prasetyo

2023

JIMKES

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“…Despite this failure, the G20 remains the crucial hub of contemporary global economic governance. In a mutually reinforcing way, augmentation, contagion, and legitimation sustain continued demand for the G20's leadership role [Luckhurst, 2020]. However, lock-in may entail risks of losing relevance to other institutions such as the OECD, the G7, or regional arrangements.…”

Section: Discussionmentioning

confidence: 99%

A Brief History of the G20 Institutional Dynamics (2008-2021)

Ларионова¹

2022

IORJ

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The Group of 20 (G20) brought together leaders of the key advanced and emerging market countries to manage the 2007–08 financial and economic crises, reform the international architecture, devise a new global consensus, ensure recovery, and promote strong, sustainable, and balanced growth. Established as an anti-crisis mechanism and designated by its members as a premier forum for international economic cooperation, the G20 transformed into a global governance hub. Since its first summit, the G20 has generated high expectations and has become a subject of research and assessment for analysts, mass media, and the general public. Each summit’s deliberations, decisions, and engagements have been scrutinized. Critics of the G20 claim it has lost relevance and was not capable of responding to the degradation of multilateralism, or the COVID-19 pandemic and the crisis it induced. In this article, the logic of historical institutionalism is applied to explore the confluence of dynamics in the G20’s evolution: demand for G20 leadership; agenda expansion and institutionalization; and legitimation, accountability, and engagements. It is concluded that the G20 changed global governance trends, creating a more inclusive global governance that integrates the G20’s own extensive and diverse cooperation networks with the networks of the other international institutions and engagement groups involved in G20 policy processes. The networked governance, alongside the rotating presidency, the Troika, and various outreach mechanisms, augment the G20’s authority and reduce the legitimacy gap perception. The benefits from the early decisions, established and expanding agenda, patterns of engagement, cognitive scripts, embedded ideas, and internalized norms became strong endogenous sources of stability, reinforced in positive feedback loops. Despite tensions between members, the value that the G20 provides and the global public goods it generates, real and expected returns, constitute significant incentives for the G20’s continued engagement, sustain its evolving dynamics, and consolidate its path-dependency. The downside of the G20’s resilience is its inability to undertake innovative initiatives in the wake of COVID-19 or to provide the powerful leadership the world needed to overcome the pandemic and the related economic and social crises. Notwithstanding these failures, the G20 remains the crucial hub of contemporary global economic governance. However, the lock-in may entail the risk of losing relevance to other institutions.

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Determinantes domésticos para atração de estudantes internacionais

Goes,

Lucena,

Vieira

2023

Rev. Inter. Educ. Sup.

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Objetivos: Este estudo objetiva mensurar o poder de atratividade de um grupo de países sobre os estudantes internacionais e identificar os principais determinantes da atratividade de um grupo de países para os estudantes internacionais. Metodologia: A partir dos dados de países do G20, Europa e Ásia, disponibilizados pela Organização das Nações Unidas para a Educação, a Ciência e a Cultura (UNESCO), entre os anos de 2009 e 2018, foi estimada uma equação de gravidade, por meio da técnica Poisson Pseudo-Maximum Likelihood (PPML). Resultados: Os resultados do trabalho indicaram que: i) países com alto Índice de Desenvolvimento Humano (IDH), com políticas de atração e anglófonos são os principais destinos de imigrantes-estudantes; ii) países com sistema de educação superior inclusivo, com uma política de atração ou com relações colônias e idiomas semelhantes são centros regionais de atração de estudantes internacionais e iii) inclusão socioeducacional, existência de política de atração e reputação do sistema nacional de educação superior são os componentes fundamentais da força de atração de estudantes exercidas pelos países. A análise de uma equação de gravidade, estimada pela técnica PPML, permite identificar os principais componentes das forças de atração de estudantes internacionais para os sistemas nacionais de educação superior. Conclusão: Além disso, a análise auxilia pesquisadores e gestores, que passam a contar com novas informações sobre internacionalização do ensino superior, na tomada de decisão sobre o tema.

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The New G20 Politics of Global Economic Governance

Cited by 3 publications

References 27 publications

Indonesia’s Strategic Engagement in G20: The Role of Economic Diplomacy in Advancing National Interests and Fostering Inclusive Global Economic Growth

Indonesia’s Strategic Engagement in G20: The Role of Economic Diplomacy in Advancing National Interests and Fostering Inclusive Global Economic Growth

A Brief History of the G20 Institutional Dynamics (2008-2021)

Determinantes domésticos para atração de estudantes internacionais

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