№ 3/2020

Ekon Ukr. 2020 (3): 6–18https://doi.org/10.15407/economyukr.2020.03.006

INFLUENCE OF G7 AND G20 COUNTRIES ON THE DEVELOPMENT OF WORLD ECONOMY

УДК 336.16:339

JEL:

BORZENKO Olena¹

¹Institute for Economics and Forecasting of the NAS of Ukraine, Research ID : http://www.researcherid.com/rid/ 078281
OrcID ID : https://orcid.org/https://orcid.org/0000-0002-1017-5942

EFFICIENCY FOR THE WORLD ECONOMY OF BRAINSTORMING OF G7 LEADERS

The issue of brainstorming is considered, in which it is important to consider the presence of factors that negatively affect the quality of the decisions made in a group and to develop a filter system to prevent such distortions. The example of the G7 and G20 shows the formats of brainstorming. Thus, thanks to rotation of group members the cost of group thinking is reduced. In modern literature, it is noted that group thinking is one of the most serious forms of deformation of the quality of group discussions, which cause critics of group forms of expertise to blame them for their poor performance compared to individual forms of analytical activity.
It is determined that the following models of market economy are distinguished in the G7 countries:
• neoliberal (UK, USA, Canada);
• social-market (Germany, France);
• corporate (Japan);
• Southern European (Mediterranean capitalism; Italy).
It is stated that the G20 has been selected as the main consolidation mechanism at the level of leaders since the beginning of the 2008 megacrisis. The G7/8 has become an important international institutional framework for the formation of the new G20, approving its creation in 1999, providing internal leadership throughout its existence, validating the usefulness of leaders' level meetings, and offering a wealth of experience of its members in the G20 presidency at the level of ministers and leaders during the first years of formation of the mechanism of the latter.
The dependence of the world economy on the US economy is analyzed. The importance of preserving and strengthening the G20 and the transition to a structure of collegial leadership rather than hegemony is emphasized.

Keywords:G7 countries; G20 countries; brainstorming; globalization; world economy.

Article original in Ukrainian (pp. 6 - 18)

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The article was received by the Editorial staff on February 13 , 2020

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