In the wake of the financial crisis, G-20 leaders launched a framework to mutually assess their policies to help strengthen the global economy. This article reflects on the experience so far with the Mutual Assessment Process (MAP). It looks at the coordination problem facing G-20 economies with...

This paper looks at macroeconomic factors behind the current crisis. The first part looks at how global macroeconomic trends--including sustained strong growth, low real interest rates, and high saving rates--provided an environment conducive to increased financial risk-taking. The second part...