{"id":1602,"date":"2014-11-05T09:44:09","date_gmt":"2014-11-05T08:44:09","guid":{"rendered":"http:\/\/blogg.lnu.se\/china-research\/?p=1602"},"modified":"2017-01-09T13:53:36","modified_gmt":"2017-01-09T12:53:36","slug":"the-g-20-financial-reform-agenda-after-five-years-2","status":"publish","type":"post","link":"https:\/\/blogg.lnu.se\/china-research\/?p=1602","title":{"rendered":"The G-20 Financial Reform Agenda after Five Years"},"content":{"rendered":"<p><strong>Highlights<\/strong><\/p>\n<ul>\n<li>Five years ago, the declarations of the G20 in landmark leaders\u2019 summits in London and Pittsburgh listed specific commitments on financial regulatory reform. When measured against these declarations, as opposed to the surrounding rhetorical hype, most (though not all) commitments have been met to a substantial degree.<\/li>\n<li>However, the effectiveness of these reforms in making global finance more stable is not so far proven. This uncertainty on impact mirrors the absence of an analytical consensus on the crisis itself. In addition, unintended consequences of the reforms are appearing gradually, even as their initial implementation is still unfinished.<\/li>\n<li>At a broader level, the G20 has established neither an adequate institutional infrastructure nor a consistent policy vision for a globally integrated financial system. This shortcoming justifies increasing concerns about economically harmful market fragmentation. One key aim should be to make international regulatory bodies more representative of the rapidly-changing geography of global finance, not only in terms of their membership but also of their leadership and location.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><sup>1 <\/sup>This Policy Contribution from September 2014 is an updated version of the author\u2019s contribution to the 2014 China-US-Euro Economists Symposium <em>\u201cReform: Challenges and Opportunities\u201d<\/em> jointly organized in Beijing on May 17-18, 2014, by Bruegel, the China Finance 40 Forum, and the Peterson Institute for International Economics.<\/p>\n<p>&nbsp;<\/p>\n<p>Read the whole report <a title=\"NicolasVeronLNUblog2nov2014.pdf\" href=\"http:\/\/ekonomihogskolan.lnu.se\/chinaresearch\/blogg_november2014\/NicolasVeronLNUblog2nov2014.pdf\" target=\"_blank\">The G-20 Financial Reform Agenda after Five Years<\/a><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/bruegel.org\/wp-content\/uploads\/imported\/people\/Brugel02-180x180.jpg\" \/><\/p>\n<p><strong>Nicolas V\u00e9ron<\/strong><br \/>\nSenior fellow at Bruegel, Brussels, Visiting fellow at the Peterson Institute for International Economics, Washington DC<br \/>\n<a title=\"Bruegel\" href=\"http:\/\/www.bruegel.org\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-160 alignleft\" src=\"https:\/\/blogg.lnu.se\/china-research\/files\/2012\/01\/home-small.gif\" alt=\"\" width=\"23\" height=\"18\" \/><\/a> <a title=\"Nicolas V\u00e9ron Home Page\" href=\"http:\/\/www.bruegel.org\/about\/person\/view\/910-nicolas-veron\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-181\" src=\"https:\/\/blogg.lnu.se\/china-research\/files\/2012\/01\/home-small-grey.gif\" alt=\"\" width=\"23\" height=\"18\" \/><\/a><br \/>\n<strong><br \/>\n<\/strong><br \/>\n<a href=\"https:\/\/blogg.lnu.se\/china-research\">Back to Start Page<\/a><em><br \/>\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights Five years ago, the declarations of the G20 in landmark leaders\u2019 summits in London and Pittsburgh listed specific commitments on financial regulatory reform. When measured against these declarations, as opposed to the surrounding rhetorical hype, most (though not all) commitments have been met to a substantial degree. However, the effectiveness of these reforms in [&hellip;]<\/p>\n","protected":false},"author":308,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10503],"tags":[],"class_list":["post-1602","post","type-post","status-publish","format-standard","hentry","category-other-emerging-markets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>The G-20 Financial Reform Agenda after Five Years - China Research<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/blogg.lnu.se\/china-research\/?p=1602\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"The G-20 Financial Reform Agenda after Five Years - China Research\" \/>\r\n<meta property=\"og:description\" content=\"Highlights Five years ago, the declarations of the G20 in landmark leaders\u2019 summits in London and Pittsburgh listed specific commitments on financial regulatory reform. When measured against these declarations, as opposed to the surrounding rhetorical hype, most (though not all) commitments have been met to a substantial degree. However, the effectiveness of these reforms in [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/blogg.lnu.se\/china-research\/?p=1602\" \/>\r\n<meta property=\"og:site_name\" content=\"China Research\" \/>\r\n<meta property=\"article:published_time\" content=\"2014-11-05T08:44:09+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2017-01-09T12:53:36+00:00\" \/>\r\n<meta property=\"og:image\" content=\"http:\/\/bruegel.org\/wp-content\/uploads\/imported\/people\/Brugel02-180x180.jpg\" \/>\r\n<meta name=\"author\" content=\"Nicolas V\u00e9ron, Brussels\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nicolas V\u00e9ron, Brussels\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blogg.lnu.se\/china-research\/?p=1602\",\"url\":\"https:\/\/blogg.lnu.se\/china-research\/?p=1602\",\"name\":\"The G-20 Financial Reform Agenda after Five Years - China Research\",\"isPartOf\":{\"@id\":\"https:\/\/blogg.lnu.se\/china-research\/#website\"},\"datePublished\":\"2014-11-05T08:44:09+00:00\",\"dateModified\":\"2017-01-09T12:53:36+00:00\",\"author\":{\"@id\":\"https:\/\/blogg.lnu.se\/china-research\/#\/schema\/person\/a869db891b7886910af49fe6e97850de\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/blogg.lnu.se\/china-research\/?p=1602\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/blogg.lnu.se\/china-research\/#website\",\"url\":\"https:\/\/blogg.lnu.se\/china-research\/\",\"name\":\"China Research\",\"description\":\"A discussion forum on emerging markets, mainly China  \u2013                                          from a macro, micro, institutional and corporate angle.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/blogg.lnu.se\/china-research\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/blogg.lnu.se\/china-research\/#\/schema\/person\/a869db891b7886910af49fe6e97850de\",\"name\":\"Nicolas V\u00e9ron, Brussels\",\"url\":\"https:\/\/blogg.lnu.se\/china-research\/?author=308\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The G-20 Financial Reform Agenda after Five Years - China Research","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/blogg.lnu.se\/china-research\/?p=1602","og_locale":"en_US","og_type":"article","og_title":"The G-20 Financial Reform Agenda after Five Years - China Research","og_description":"Highlights Five years ago, the declarations of the G20 in landmark leaders\u2019 summits in London and Pittsburgh listed specific commitments on financial regulatory reform. 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