"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 2015, and then Turkey in 2016, chair the process so as to encourage strategic leadership? The East Asian Bureau of Economic Research in the Crawford School of Public Policy at the Australian National University and the Global Economy and Development program at the Brookings Institution joined forces in putting together this volume and asked opinion leaders and policymakers from G-20 countries to provide their independent perspectives. Contributors include Colin Bradford (Brookings), Peter Drysdale (Australian National University), Kemal Dervis (Brookings), Andrew Elek (Australian National University), Ross Garnaut (University of Melbourne), Huang Yiping (China Center for Economic Research), Bruce Jones (Brookings), Muneesh Kapur (IMF), Homi Kharas (Brookings), Wonhyuk Lim (Korea Development Institute), Rakesh Mohan (IMF), David Nellor (consultant, Indonesia), Yoshio Okubo (Japan Securities Dealers Association), Mari Pangestu (Republic of Indonesia), Changyong Rhee (former Asian Development Bank), Alok Sheel (Government of India), Mahendra Siregar (Republic of Indonesia), Paola Subacchi (Chatham House, London), Carlos Vegh (Brookings), Guillermo Vuletin (Brookings), and Maria Monica Wihardja (World Bank). "

The Arab Spring constitutes perhaps the most far-reaching political and economic transition since the end of communism in Europe. For too long, the economic aspirations of the people in the region, especially young people, have been ignored by leaders in Arab countries and abroad. Competing views as to how best to meet these aspirations are now being debated in the region. The outcome will shape Arab societies for generations to come.
The authors of this book argue that significant economic reforms must accompany the major political transitions that are underway. Although each country has a different economic structure and history and must make its own way forward, there are spill-overs from trade and investment linkages, the contagion of news cycles, interaction of people and sharing of expectations that are too great to ignore. Some common foundation of the new Arab economies is needed. Towards that end, this volume addresses four central challenges of economic reform in the Arab world. First, with two-thirds of the population under the age of 30, the disproportionate burdens of unemployment and poor education can no longer be heaped on youth. Second, while some government policies may have improved the living standards of Arab citizens in the past, they have also entrenched cronies, enriched a small elite, and become unaffordable. Third, if Arab economies are to compete in the 21st century they cannot depend solely on oil and gas money, remittances, and tourism, but will require active, independent private sectors. And finally, the relative isolation of Arab economies--both from each other and from the world--must end.
Rather than providing specific lists of recommendations, this book sets forth a set of guidelines and priorities for reformers who will begin creating new opportunities for youth, rebuilding the institutions of the state, diversifying the private sector, and cooperating with each other and integrating with the world economy.

"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 Dervis 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, and ramifications of the euro crisis from the perspective of three countries especially hard hit-Greece, Italy, and Spain. * Concerns, priorities, and issues in France and Germany, the couple that has so far always driven European integration. * Effects and lessons in two key policy areas: banking union and social policies. The volume concludes with a possible renewed vision for the EU in the 2020s, including much greater political integration but where some countries may keep their national currencies and share less of their sovereignty. It is a vision of two Europes within one, ready for the twenty-first century. "

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 household income, rising poverty rates, and increased borrowing and debt, though there is much less agreement on remedies.

"Inequality in America" provides a snapshot of the issues posed by the growing concentrations of income, focusing on the United States but drawing on international comparisons to help set the context. The authors examine the economic, technological, and political drivers of inequality and identify worrying trends associated with its rise. They demonstrate how specific factors have exacerbated income inequality, including technological change, international trade, changes in labor market participation, and the increasing role of the financial sector. Their clear and concise exposition makes the issues surrounding income distribution accessible to a wider public.

As they write in the conclusion: "We have argued that tackling the worst effects of inequality and re-establishing a measure of equal opportunity requires increased investment in crucial public goods: first, education; second, a more progressive and simplified tax system; and third, increased international cooperation to avoid a race to the bottom. Education, tax, and other such policies are pursued by other highperforming advanced countries and can be shaped for the United States in a way that is fully consistent with an efficient and competitive American economy."

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 G-20's role moved toward that of a global crisis management committee at the leadership level. The challenge now for the G-20 is to succeed in fostering ongoing and increasing cooperation among its members while being supportive of, rather than trying to replace, more universal institutions.

After analyzing the dynamics of growth in Asia comparatively and historically, the volume appraises the scope for policy coordination among key economies. The contributors analyze financial stability in emerging Asia and then assess the implications of Asia's increasing role within the newly emerging system of global economic governance, focusing especially on reform of the international monetary structure.

Contributors: Dony Alex (ICRIER, New Delhi), Kemal Dervis, (Brookings), Hasan Ersel (Sabanci University), Karim Foda (Brookings), Yiping Huang (Peking University), Masahiro Kawai (ADBI), Rajiv Kumar (FICCI, New Delhi), Domenico Lombardi (Oxford University and Brookings), Jos? Antonio Ocampo (Columbia University), Jim O'Neill (Goldman Sachs)

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 civics curriculum.

Praise for the Global Civics Program

"I agree with Hakan Altinay that in order to navigate our global interdependence, we need processes where we all think through our own responsibilities toward other fellow humans and discuss our answers with our peers. A conversation about a global civics is indeed needed, and university campuses are ideal venues for these conversations to start. We should enter this conversation with an open mind, and not insist on any particular point of view. The process is the key, and we should not wait any longer to start it." --Martti Ahtisaari, 2008 Nobel Peace Laureate

"The growing interconnectivity among people across the world is nurturing the realization that we are all part of a global community. This sense of interdependence, commitment to shared universal values, and solidarity among peoples across the world can be channeled to build enlightened and democratic global governance in the interests of all. I hope that universities and think tanks around the world will deploy their significant reservoirs of knowledge and creativity to develop platforms to enable students to study and debate these issues. This project is a contribution toward that goal and I look forward to following it closely." -- Kofi Annan, Former Secretary General of the United Nations, 2001 Nobel Peace Laureate