... structure should accord greater weight to regional integration arrangements and their development institutions at the level of key G20 decisions concerning international economic policy coordination.
The need for greater synchronicity in the global economy ... ... several trajectories:
· Greater synchronicity in the anti-crisis response across countries and regions – according to the IMF it is a coordinated response that renders economic stimulus more efficacious in countering the global downturn
· Synchronicity ...
... platform for regional integration arrangements and regional institutions with a coordinating role performed by the G20. Such a platform that may be denoted R20 (regional 20) would bring together regional integration arrangements and institutions where G20 countries are leading members. Such a platform may promote horizontal coordination across regional institutions as well as vertical cooperation with global multilateral organizations – Regional Financing Arrangements with the IMF, regional development banks with the World bank and the regional integration arrangements with the WTO.
In the end, a synchronized downturn calls for a synchronized response. Limiting the coordinated fiscal response solely to the country level significantly ...
