How the G20 is working towards a more inclusive world economy - an update on the state of international cooperation Gabriela Ramos, OECD Chief of Staff, G20 Sherpa and Special Counsellor to the Secretary-General Nearly 10 years after the global financial and economic crises, the G20 continues to be the premier forum for international economic co-operation. Over time, its mandate has progressed and matured, incorporating medium and long term challenges across its agenda, including engineering not only a stronger, but also a more sustainable and a more inclusive type of global growth. This session will aim to explain how the G20 agenda has evolved and transformed, broadening from an emergency response to the crisis to a more structural, longer-term approach to global economic challenges. It will provide an insider experience of the G20 and insights on the role of this global economic governance body, its key achievements and challenges, and the support provided by the OECD to G20 members and successive presidencies. Importantly, it will explore the potential of the G20 to foster a more inclusive world economy.

1. THE G20 TOWARDS A MORE INCLUSIVE
WORLD ECONOMY:
AN OECD PERSPECTIVE
6TH PARLIAMENTARY DAYS
8 FEBRUARY 2018
Gabriela Ramos
OECD Sherpa and Chief of Staff

2. The G20 moves from crisis management to
global economic governance
G20 Leaders cooperate
to respond to a crisis
(stimulus package,
financial regulation
agenda, first steps tax
agenda)
Deepening into an
ambitious structural
reform agenda (2%
target, national growth
strategies, BEPS)
Broadening to global
economic governance
with the introduction of
forward-looking issues
and new sources of
growth (mega-trends,
strategic foresight,
inclusiveness)
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3. G20: key achievements
• Responding to the global financial crisis (e.g. stimulus package, financial
regulation, standstill on protectionist measures & roll-back)
• Taking a whole-of-economy approach to global economic governance to deliver
strong, sustainable, balanced and inclusive growth through monetary, fiscal and
structural policy levers
• Incorporating mega-trends and addressing related mid-to-long-term challenges:
climate, inclusive growth (gender, youth), the backlash against globalisation, health
• Levelling the playing field: the tax agenda (BEPS & tax transparency), steel,
corporate governance, anti-corruption
• Injecting political momentum to international agendas (2030 Sustainable
Development Agenda, Paris Climate Agreement).
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4. The impact of the financial crisis on
the global economy
Following the peak of the crisis (2008-2009), the recovery
remained very weak by historical standards
(%, real GDP growth)
Source: OECD
Economic Outlook
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5. G20 challenges
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6. Persistently high income inequality
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Gini coefficient in selected OECD and non-OECD countries
OECD (2017), Bridging the Gap

7. Contribution to potential output growth per capita
G-20 advanced G-20 emerging
Note: G-20 advanced includes Australia, Canada, France, Germany, Italy, Japan, Korea, the United Kingdom and the
United States. G-20 emerging includes Argentina, Brazil, China, India, Indonesia, Mexico, Russia, South Africa and
Turkey. Decomposition based on a Cobb-Douglas production function, using the population aged 15-74 years. The
productive capital stock excludes housing investment.
Source: OECD Economic Outlook database; and OECD calculations.
Reduced prospects for long-term growth
and slow productivity gains (TFP)
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8. Charting the way forward – engineering a more
inclusive and stronger growth momentum
• Address systemic global challenges, and prepare for transformation
• Demonstrate value of multilateral dialogue and cooperation in an
interconnected, globalised world
• Frame long-term trends and connect them with policy requirements
• Strengthen people-centred Inclusive Growth
• Foster a rules-based global economy – level the playing field
• Make international trade and investment work for all
• Strengthen public trust in government and institutions
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9. OECD - G20 strategic partner
Reforming,
quantifying,
monitoring
•National Growth Strategies
with support on structural
reforms
•Gender and Youth Targets
•Trade and Investment:
monitoring protectionist
measures
•Measurement of digital
economy and digital trade
New approaches
and new standards
• Tax transparency (BEPS,
AEOI)
• GVCs and TiVA, including
MNEs in GVCs
• RBC (MNE Guidelines)
• Anticorruption
• Steel Forum
Cross-cutting issues
and framing the
narrative
• Productivity-inclusiveness
nexus
•Trade-investment nexus
•Investing in Climate,
Investing in Growth
• Structural reforms
• Innovation and digital
economy (Going digital
project)
•Entrepreneurship and
SMEs
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10. Ensuring G20 impact –OECD present at all
levels of the process
•Very early in the process, the OECD
shares papers to help:
•1. identify the current global challenges
that the G20 could take on
•2. help build a substantive narrative
“connecting the dots”
•3. Provide evidence to start shaping
possible deliverables for its priorities
DEFINING THE
AGENDA
•The OECD works through the
year with each work streams to
present the evidence to the
Working Group members
•The OECD Sherpa further puts
the substantive arguments in
support of the political
consensus-building led by the
Presidency at the Sherpa level
BUILDING A
CONSENSUS
•The OECD works with the
Presidency and other
international organisations to
help building ambitious
deliverables
•OECD also works with
Members to support
implementation, providing
continuity and preserving the
G20 legacy
DELIVERING
CONCRETE OUTCOMES
AND ENSURING
IMPACT
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11. THANK YOU
GABRIELA RAMOS
CHIEF OF STAFF AND OECD SHERPA
@GABRAMOSP