Summary of The Effect of G20 Summits on Global Financial Markets

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The Effect of G20 Summits on Global Financial Markets summary
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6 Overall

6 Importance

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Recommendation

If too many cooks spoil the broth, what does that say about the shift in economic focus from the global governance of the G7 to the G20? Meetings of the G7 were often occasions for barricades, riot police and clouds of tear gas. By contrast, the G20 meetings – despite some protests – seem much more civil. Have the detractors mellowed, or is the G20 not quite as powerful as the G7? Market price movements shed some light on whether – and what – this more diverse group is delivering. getAbstract recommends this thought-provoking attempt at discovering the informational impact of the G20 meetings on financial markets.

In this summary, you will learn

  • What benefits and flaws accompany G20 meetings,
  • What functions these world gatherings fulfill, and
  • Whether G20 declarations move markets.
 

About the Authors

Marco Lo Duca and Livio Stracca are economists at the European Central Bank.

 

Summary

In 2008-2009, as the developed world scrambled to respond to its most severe economic challenge in decades, the meetings of the G20 – which has mostly supplanted the previously dominant G7 – garnered global attention. While gaining broader relevance by representing a much larger proportion of the world...

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