The G-20 Economies and the Financial Crisis: Concerns over Governance

Governance is understood to mean the institutions and systems that determine the modus operandi and capacity to respond of a given organisational reality, such as a company, a corporation or a government. For this reason, the concept refers to institutionality, which is often a factor of major importance with regard to the correct functioning of a community, or to policy in the case of a country. Although it is usually applied to the corporate concept, governance has been increasingly used in the context of public policy, in other words, with regard to the institutionality and functionality of the state, as well as in its relations with international organisations. Global financial governance is, therefore, an issue that concerns the institutionality and ways in which the world’s economic and financial system operates, and it is a key factor in the process of overcoming the current crisis.