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Progress in International Economic Governance
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2013
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2015

201320142015 CIGI Survey of Progress in International Economic Governance

Introduction

The CIGI Survey of Progress in International Economic Governance, updated annually, tracks the progress made by the Group of Twenty (G20) and other international economic governance institutions in strengthening international cooperation. The survey tracks progress on key governance issue areas to gauge progress or regression in the international economic arena. To do so CIGI asked its scholars to answer the following question:

What progress has been made in improving the international economic governance system over the past year?

Recognizing the difficulty of making objective judgments given the complexity of these issues, the results are offered as a range of subjective opinions from the experts.

The survey is intended to assist policymakers ahead of the annual G20 Leaders Summit by identifying the key economic governance gaps in the current international political and economic climate. By highlighting the areas of the international economic system that warrant focused and sustained attention, CIGI’s experts seek to foster progress towards more effective international economic governance.

Progress Scale

Major Progress 80-100

Estimates between 80% and 100% represent the ability to withstand the pressures of a severe shock to the world economy and to prevent sustained unemployment or inflation.

Some Progress 60-79

Estimates between 60% and 79% reflect conditions that inspire confidence and that are conducive to growth.

Minimal Progress 40-59

Estimates between 40% and 59% indicate a level of progress sufficient to inspire confidence in the long term, but with non-negligible risks to the world economy if confronted by shocks.

Some Regression 20-39

Estimates between 20% and 39% represent some regression, pointing to non-negligible risks to the stability of the world economy if confronted by large-scale shocks.

Major Regression 0-19

Estimates between 0% and 19% represent major regression toward a fractious and chaotic international system, with significant risks to the stability of the world economy.

Progress Scale

Major Progress 80-100

Estimates between 80% and 100% represent the ability to withstand the pressures of a severe shock to the world economy and to prevent sustained unemployment or inflation.

Some Progress 60-79

Estimates between 60% and 79% reflect conditions that inspire confidence and that are conducive to growth.

Minimal Progress 40-59

Estimates between 40% and 59% indicate a level of progress sufficient to inspire confidence in the long term, but with non-negligible risks to the world economy if confronted by shocks.

Some Regression 20-39

Estimates between 20% and 39% represent some regression, pointing to non-negligible risks to the stability of the world economy if confronted by large-scale shocks.

Major Regression 0-19

Estimates between 0% and 19% represent major regression toward a fractious and chaotic international system, with significant risks to the stability of the world economy.

Progress Scale

Major Progress 85-100

Estimates between 85% and 100% represent the ability to withstand the pressures of a severe, unanticipated major shock to the world economy, preventing sustained unemployment or inflation. International agreements are effective. Key institutions have strengthened their governance and accountability and have the tools and resources required to perform effectively.

Some Progress 70-84

Estimates between 70% and 84% reflect some progress that inspires confidence in the stability of the world economy against large-scale shocks Conditions are conducive to inclusive global economic growth.

Minimal Progress 55-69

Estimates between 55% and 69% indicate a level of progress sufficient to inspire confidence in long term, sustainable balanced growth, but with non-negligible risks to the world economy if confronted by shocks.

Status Quo 45-54

Estimates between 45 and 54% represent stagnation in progress or regression, with low to negligible developments in international discussions or a lack of displayed interest. Public documents exclude mention of the topic or pay minimal due to the issue, with little to no developments in stability or growth.

Minimal Regression 30-44

Estimates between 30 and 44% represent a level of regression sufficient to cause concern for the direction of long term growth. Conditions have not yet worsened significantly, but the global economy shows signs for concern.

Some Regression 15-29

Estimates between 15% and 29% represent some regression that instills concern for the stability of the world economy against large-scale shocks. Indications suggest insufficient progress and conditions unfavorable to long term growth.

Major Regression 0-14

Estimates between 0% and 14% represent major regression towards a fractious and chaotic international system, with significant risks to the stability of the world economy. Multilateral negotiations are at a standstill, and key institutions lack the tools and resources to perform effectively.