The Group of 20 and its contribution to the reform of the global financial architecture
Journal: UpSpace Institutional Repository (University of Pretoria)
Year: 2018

The 2008 global financial crisis prompted an extensive re-evaluation of the effectiveness, legitimacy and relevance of the institutions that governed the global economy since the end of the Second World War. This re-evaluation resulted in various attempts to improve the formal and informal structures of global financial governance in order to avoid similar shortcomings in the future. As a result, the G20 developed from a mere suggestion at a G7 Summit in 1999 into a significant society of states