International governance-is the G20 the right forum?

Jean Pisani-Ferry puts forward the idea that the G20 is a significantly less suitable forum for discussion of regulatory matters than of macroeconomic issues and their implications for the institutions of global governance. While it is sensible to involve developing and emerging countries in the reform of financial regulation, they are unlikely to play a leading role. On macroeconomic matters and as regards institutional reform, however, no meaningful discussion can take place without them.