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