The BRICS countries' position in today's global governance system is defined by their increasing weight in the world economy. According to Jim O'Neill, who in 2001 predicted the economic growth in the BRIC countries, “all four of the BRIC countries have exceeded the expectations I had of them...

This article focuses on the two new multilateral development banks dominated by emerging economies: Asian Infrastructure Investment Bank and New Development Bank. The authors explore the main economic and political incentives that lie behind the creation of these institutions, examine challenges...

The G20 and the BRICS group of Brazil, Russia, India, China and South Africa have been working on shared agendas since the BRICS leaders' first meeting in 2009. Despite the widespread belief that the BRICS competes with the G20, the BRICS recognises the G20 as a key forum for dialogue and...

The rhetoric of Donald Trump, as well as some of his actions, have given rise to a lot of questions as to what will be the United States' future policy toward certain leading international organizations like the UN, G7, the EU, and the WTO. This policy will certainly undergo a number of changes,...

The whole complex of pandemic, economic, and social crises has become a kind of a stress test for the system of multilateral cooperation as it is weakened by geopolitical conflicts, contradictions between the key members and growing mistrust due to stalled reforms of international organizations...

Italian presidency in the G20 took place amid uneven economic recovery after the peak of the coronacrisis and building-up of efforts to roll out a large-scale vaccination during new waves of the pandemic. Italian presidency focused on the priorities such as poverty eradication, ensuring of...

Economic inequality is increasing both within and across countries. Growing inequality has negative economic, social and political consequences, it constrains economic growth, undermines social cohesion and political stability. Eradicating causes of inequality and turning structural barriers to...

This paper attempts to put G8 and G20 institutions within the same assessment paradigm on the basis of a functional framework. This approach allows comparing the G8 and G20 across at least three groups of indicators: performance of global governance functions, accountability and compliance...

As the global community reflects on the contentious outcomes of the summits of the Group of 20 (G20) and looks to future presidencies to come up with ambitious agendas, the legitimacy and effectiveness of both the G20 and the Group of Seven (G7) and the Group of Eight (G8) are put to the test....

List of contributors -- List of abbreviations and acronyms -- Introduction -- Accountability and effectiveness in global governance -- John Kirton and Marina Larionova -- Global economic governance -- Financial regulation for stability -- Andrew baker and kateryna dzhaha -- Governing the gaps in...