In this collaboration between the Brookings Institution and the Asian Development Bank Institute, eminent international economists examine the increased influence of Asian nations in the governance of global economic affairs, from the changing role of the G-20 to the reform of multilateral organizations such as the International Monetary Fund.

Established in the aftermath of the Asian financial crisis at the ministerial level, the G-20 has served as a high-level platform for discussing economic analyses and policy responses since 1999. During the current global financial crisis, however,...

The simple yet challenging goal of this book is to deliberate the legitimacy, and advance the feasibility, of an important new concept--the notion of "global civics." We cannot achieve the international cooperation that is needed for a globalizing and interdependent century without embracing and implementing this important concept.

The first section of "Global Civics" is a presentation of the overall idea itself; the second section consists of diverse assessments from around the world of the concept and where it currently stands. The third section discusses various options for a global...

A bedrock American principle is the idea that all individuals should have the opportunity to succeed on the basis of their own effort, skill, and ingenuity.--Federal Reserve Chairman Ben Bernanke

Income inequality has been on the rise since the late 1970s, but the economic and financial crisis of 2008 instigated an unemployment epidemic that dramatically compounded this problem in the United States and catapulted the issue to the center of debate. There is wide agreement across the political spectrum that high inequality is contributing to undesirable circumstances such as stagnant...

Can the eurozone's emergence from crisis turn into a real economic recovery and a new vision for Europe's future? Or is Europe heading for a "lost decade" in terms of growth and a rise in old style nationalism? Kemal Dervi and Jacques Mistral have assembled an international group of economic analysts who provide perspectives on the most audacious supranational governance experiment in history. Will the crisis mark the end of the dream of "ever closer union" or lead to a renewed impetus to integrate, perhaps taking novel forms?

Among the key issues explored are the

- Onset, evolution,...

Can the G-20 become a steering committee for the world's economy? Launched at a moment of panic triggered by the financial crisis in late 2008, the leaders' level G-20 is trying to evolve from crisis committee for the world economy to a real steering group facilitating international economic cooperation.

What can and should such a "steering committee" focus on? How important could the concrete gains from cooperation be? How much faster could world growth be? Is there sufficient legitimacy in the G-20 process? How does the G-20 relate to the IMF and the World Bank? How can Australia in...