G20 Since the Global Crisis

1. Front Matter

   Pages i-xvii

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2. Introduction: G20 Since the Global Crisis

   • Jonathan Luckhurst

   Pages 1-21

3. Strategic Economic Effects of the GFC

   • Jonathan Luckhurst

   Pages 23-61

4. Ideational and Normative Effects of the GFC

   • Jonathan Luckhurst

   Pages 63-100

5. International Focus on the G20

   • Jonathan Luckhurst

   Pages 101-140

6. G20 Hub for Global Governance

   • Jonathan Luckhurst

   Pages 141-180

7. G20 Significance for Members and Non-members

   • Jonathan Luckhurst

   Pages 181-213

8. China–US Economic Cooperation as Antidote to Strategic Conflict

   • Jonathan Luckhurst

   Pages 215-247

9. Strategic Competition Probably Won’t Prevent G20 Cooperation

   • Jonathan Luckhurst

   Pages 249-266

10. Conclusion: G20 Importance for International Politics

    • Jonathan Luckhurst

    Pages 267-277

11. Back Matter

    Pages 279-300

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This book analyzes the Group of Twenty (G20) since the 2008 financial crisis. The latter event undermined conventional wisdom and governance norms, constituting a more contested international economic regime. G20 leaders sought a cooperative response to the 2008 crisis through the forum, aware of their interdependence and the growing economic importance of key developing states. They agreed to new norms of financial governance based on macroprudential regulation, the Basel III Accords, and enhanced multilateral cooperation. They prioritized G20 cooperation for achieving international economic stability and growth. Differences exist over causes and effects of the crisis, including on the merits of economic austerity or fiscal stimulus strategies; on responsibility for and solutions to international economic imbalances; and concerns about monetary policies and “currency wars”. Despite claims from skeptics that G20 cooperation is declining, this book argues its importance for international relations and as a hub of global governance networks.

• G20
• Global Financial Crisis (GFC)
• Global Governance
• Interdependence
• intergovernmental
• multilateral
• networks
• economy

“As Jonathan Luckhurst declares, ‘The G20 has become the main hub of global governance and cooperation.’ Though there remains a sharp division among academics and policy researchers whether the G20 has proved effective, Luckhurst makes a strong case for this Informal to have continuing influence. Read this volume and find out why.”  (Alan S. Alexandroff, Director of the Global Summitry Project at the Munk School of Global Affairs, University of Toronto, Canada)

“This valuable book impressively updates earlier accounts of G20 governance. It innovatively adds to analyses of the G20 the important dimension of the broader strategic competition between the world’s leading global powers.” (John Kirton, Co-founder and Director, G8 Research Group at the Munk School of Global Affairs, University of Toronto, Canada)

“This important book pushes back on the notion that the G20 has eroded in significance. Building on a blend of conceptual sophistication and detailed analysis, Jonathan Luckhurst demonstrates the embedded quality of the G20’s hub status in respect to normative and policy diffusion. This is a must-read for all students of Global Governance.” (Andrew F. Cooper, Professor of Political Science, Balsillie School of International Affairs, University of Waterloo, Canada)

“Here is the fair-minded, eclectic, and thorough guide needed to understand this crucial economic governance space. Luckhurst argues the G20 is a hub that has enhanced international society since the Global Financial Crisis, where cooperative pragmatism rules the day. Fissures and flaws exist and receive careful assessment. An important book for our complicated planet.” (Susan Harris Rimmer, Associate Professor and Australian Research Council Future Fellow, Griffith University, Australia)

• Universidad de Guadalajara, Guadalajara, Mexico

  Jonathan Luckhurst

Jonathan Luckhurst is Associate Professor of International Relations at the Center for North American Studies of the Pacific Studies Department, University of Guadalajara, Mexico. He is a British academic with a PhD from University of Essex, UK. His research interests include the Group of Twenty (G20) and the 2008 global financial crisis. 

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