Postcrisis Growth and Development: A Development Agenda for the G-20: Overview
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Figure 9. The G-20’s Approach to Development G-20’s mandate
Alignment with the G-20 framework
Development objectives and policy issues are in line with G-20 mandate and expertise. The G-20’s development approach draws on its role as the premier forum for international economic and policy cooperation.
Economic growth in developing countries spurs multipolar growth. Development generates new sources of both regional and global demand. Strong developing-country markets help rebalance global growth.
Contribution to existing development efforts
Growth-oriented development strategy complements development efforts by countries and international community and supports global recovery. Focus by all on their respective comparative advantage ensures valueadded and avoids duplication
Source: Based on Rhee 2010.
postcrisis world. In the selection of development areas, the conference organizers used the following criteria to set development priorities and policies for consideration by the G-20:
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Whether the development policy area can help promote strong, sustainable, and balanced growth and thus support economic recovery in developing countries, as well as in advanced economies Whether international cooperation, international financing, and specific actions are needed to address the development policy area Whether the development policy area under consideration lies within the G-20 mandate of international economic cooperation, already considered under existing G-20 agreements (that is, in the previous summits) and could result in tangible outcomes, including specific action plans or measures that could be agreed on at the Seoul summit and beyond.
Based on these criteria, the following sections cover aid for trade, infrastructure and sustainable development, agriculture and food security, and inclusive finance. Aid for Trade In chapter 7, Bernard Hoekman and John Wilson broadly define aid for trade as financial and technical assistance that facilitates the integration of developing countries into the global economy through initiatives that expand trade, particularly through financing of transportation and logistics infrastructure. By furthering economic growth and development, the
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