A Brief History of the G20 Institutional Dynamics (2008-2021)

The Group of 20 (G20) brought together leaders the key advanced and emerging market countries to manage 2007–08 financial economic crises, reform international architecture, devise a new global consensus, ensure recovery, promote strong, sustainable, balanced growth. Established as an anti-crisis mechanism designated by its members premier forum for cooperation, G20 transformed into governance hub. Since first summit, has generated high expectations become subject research assessment analysts, mass media, general public. Each summit’s deliberations, decisions, engagements have been scrutinized. Critics claim it lost relevance was not capable responding degradation multilateralism, or COVID-19 pandemic crisis induced. In this article, logic historical institutionalism is applied explore confluence dynamics in G20’s evolution: demand leadership; agenda expansion institutionalization; legitimation, accountability, engagements. It concluded that changed trends, creating more inclusive integrates own extensive diverse cooperation networks with other institutions engagement groups involved policy processes. networked governance, alongside rotating presidency, Troika, various outreach mechanisms, augment authority reduce legitimacy gap perception. benefits from early established expanding agenda, patterns engagement, cognitive scripts, embedded ideas, internalized norms became strong endogenous sources stability, reinforced positive feedback loops. Despite tensions between members, value provides public goods generates, real expected returns, constitute significant incentives continued sustain evolving dynamics, consolidate path-dependency. downside resilience inability undertake innovative initiatives wake provide powerful leadership world needed overcome related social crises. Notwithstanding these failures, remains crucial hub contemporary governance. However, lock-in may entail risk losing institutions.