Page 26 - abstract-Book-version-22.10.18

III. EUROPEAN CONFERENCE ON SCIENCE, ART & CULTURE
ECSAC’18 – NORTHERN CYPRUS
Gazimağusa, October12-14, 2018

OP-20 GREAT EXPECTATIONS AND COLD FACTS: AN ASSESSMENT OF THE
INSTITUTIONAL CAPACITY AND ECONOMIC PERFORMANCE OF THE
G20

Uğur Yasin ASAL 1

1 Assistant Professor of Political Science and International Relations and Head of the Commercial Diplomacy M.A
Program at Istanbul Commerce University (ICU)

The recent global financial crisis has fundamentally questioned the crises management mechanisms of the
international institutions. Despite the development of the skills of these institutions; financial vulnerability, economic
imbalances and the instability of the macroeconomic indicators are still rising cyclically. Furthermore, contemporary
sanctions and countervailing duty executions of Donald Trumps’ administration are challenging the balance of
international trade and global share of wellbeing. The G20, represents roughly % 85 percentages of global GDP and
two-thirds of the world population, comes to the forefront as leading body for consistent international economic order.
However, the G20s’ current institutional mechanisms are not well suited to addressing all these challenges. Being the
lack of permanent secretariat of the G20, decreasing the effectiveness, legitimacy and the power of economic viability
of the club. With regard to backup of the G7 by the OECD, G20 has no any permanent body that ensures the sustainable
financial policies.
Regarding to this philosophical background, the role of G20s’ institutional structure and macroeconomic
performance will be examined in accordance with the theory of international institutionalization in this study. As part
of Neo-Gramscian approach, following questions will be inquired as well; What are the main causes that avoid the
G20 being more efficient in international politics? Why the G20 countries are act as part of ‘hegemony of hierarchy’
by means of international power balance. In addition to these primary research questions, institutional capacity and
the macroeconomic performance of the G20 will be measured with international trade balance, current severe crises
management skills and the role of the club in global income distribution. Thus, in addition to qualitative research
methodology, numeric data’s and statistics will be predominantly used as part of quantitative research modality in this
study.
Keywords: Economic Performance, Institutional Theory, Permanent Secretariat, Rules.

20
G ECE

AKADEMI .