"Global Leadership in Transition" calls for innovations that would "institutionalize" or consolidate the G20, helping to make it the global economy's steering committee. The emergence of the G20 as the world's premier forum for international economic cooperation presents an opportunity to improve economic summitry and make global leadership more responsive and effective, a major improvement over the G8 era.

"Key contributors to this volume were well ahead of their time in advocating summit meetings of G20 leaders. In this book, they now offer a rich smorgasbord of creative ideas for...