12 May 2017

Towards a More Resilient Global Economy

Daniel Gros / Matthias Busse / Lars Ludolph / David Rinaldi / Cosmina Amariei / Gilles Thirion

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This report contains the Executive Summary of the proceedings of a high-level conference organised jointly by the German Federal Ministry of Finance and Deutsche Bundesbank, in cooperation with CEPS, on the occasion of Germany’s presidency of the G20, which runs from 1 December 2016 to 30 November 2017. The conference, held on 30 November 2016 in Berlin, aimed to ensure that the German Government’s performance during the presidency was underpinned by solid expert advice and that there was continuity between the work done under previous G-20 presidencies and also the work being carried out in an academic and research context.

A central question on the conference agenda was how to create a more resilient global economy. Participants aimed to establish what is meant by ‘resilience’ and how wide ranging is the concept, in order to create a basis for future work to enhance resilience. Sessions were organised around main six themes: Public debt – Sustainability and transparency; Private debt – Deleveraging and avoiding bubbles; The real economy – Resilience through flexibility; Taxes – Improving the Global Framework; Capital flows – Shocks or shock absorbers?; and The Global Financial Architecture.

CEPS Director Daniel Gros provided expert advice in shaping the conference programme and drafted the final report based on input from rapporteurs for each of the sessions.