What can the G20 do to support tax systems for just and resilient societies? Fighting inequality through progressive taxation

Just and resilient societies depend on an adequate public funding base to provide important public goods, such as health care and education. The COVID-19 pandemic crisis has put a stark spotlight on this: Strong public health systems are an important pre-requisite for successfully dealing with the medical consequences of the pandemic, and fiscal stimulus packages will play an important role in stabilising economies.

However, in recent years there has been an erosion of the public funding base in many countries, as the globalisation and digitalisation of value creation was accompanied by profit shifting and tax avoidance. What can the G20 do to support tax systems for just and resilient societies? Will the OECD led initiative on Base Erosion and Profit Shifting come to a successful conclusion in 2020, as envisaged by G20 leaders? How can progressive wealth taxes contribute to more equitable societies?

Policy Briefs
Sharpening The Profile And Scope Of The Global Financial Safety Net For Better Performance And Governance Of The Financial Sector
Evgeny Vinokurov - Eurasian Fund for Stabilization and Development, Artem Levenkov - Eurasian Fund for Stabilization and Development, Gennady Vasiliev - Eurasian Fund for Stabilization and Development
Digital Payments And Cross-Border Capital Flows: Policy Actions To Safeguard Macrofinancial Stability
John Beirne - Asian Development Bank Institute, Tokyo (Japan), Teuku Riefky - University of Indonesia (LPEM FEB UI)
Digital Payments, Decentralised Finance And The Design Of A New Normal For Financial Stability
Jose Siaba Seerrate - Argentine Council For International Relations
ESG Investing: Beyond The Standards
Claude Lopez - Milken Institute
Resolving Debt Crises In Developing Countries: How Can The G20 Contribute To Operationalising The Common Framework?
Kathrin Berensmann - German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE), Christopher Heitzig - Africa Growth Initiative (AGI), Brookings Institution, Aloysius Ordu - Africa Growth Initiative (AGI), Brookings Institution, Lemma W Senbet - University of Maryland and Brookings AGI Distinguished Advisory Group
Debt Relief For A Green And Inclusive Recovery
Shamshad Akhtar - Pakistan Stock Exchange, Jörg Haas - Heinrich Böll Foundation, Ulrich Volz - SOAS University of London
Policy Proposals For External Debt Management And Sustainability In Developing And Low-Income Countries
Fernando Lorenzo - Centro de Investigaciones Economicas, Luis Miguel Galindo - Universidad Nacional Autonoma de México, Ramiro Albrieu - CIPPEC, Dionisio Borda - Centro de Analisis y Difusién de la Economia Paraguaya, Paul Lakuma - Economic Policy Research Centre, Alemayehu Geda - Addis Ababa University,
Supporting Energy Transitions And COVID-19 Recovery: The Role Of International Financial Institutions
Rishikesh Ram Bhandary - Research Fellow, Center for International Environment and Resource Policy, The Fletcher School, Tufts University, Daniela Staicu - The Bucharest University of Economic Studies, Zdenka Myslikova - The Fletcher School, Tufts University, Najeeb Ullah - University of Engineering and Applied Science, Swat
International Standardization of Institutional Framework of Fintech
Daehee Jeong - Korea Development Institute, Deok Ryong Yoon - Korea Development Institute
For an African Stability Mechanism
KY Amoako - African Centre for Economic Transformation, Daniel Cohen - Finance for Development Lab, Paris School of Economics, Sebastien Villemot - Finance for Development Lab, Paris School of Economics, Brendan Harnoys-Vannier - Finance for Development Lab, Paris School of Economics
International Financing Framework To Bridge The Climate Financing Gap Between Developed And Developing Countries
Alvin Ulido Lumbanraja - Northwestern University, Kellogg School of Management, Teuku Riefky - University of Indonesia (LPEM FEB UI)
Inclusive Economic Development Principles for Integrating Central Bank Digital Currencies in G20 Countries
Ronney Ncwadi - School of Economics, Development and Tourism, Nelson Mandela University, David Wen - Zhejiang University International Business School, Yuwen Dai - Zhejiang University International Business School
Addressing The Needs Of Tax Incentive Reform Under Pillar Two – Global Minimum Tax Model Rules
Riatu Mariatul Qibthiyyah - Institute for Economic and Social research, Faculty of Economics and Business, University of Indonesia (LPEM-UI), Christine Tjen - Tax Education and Research Center, Faculty of Economics and Business, University of Indonesia, Syahda Sabrina - Institute for Economic and Social Research, Faculty of Economics and Business, University of Indonesia
Enabling Pragmatic Policies: Leveraging ESG Frameworks Towards A Just Transition
Jitendra Roychoudhury - King Abdullah Petroleum Studies and Research Center (KAPSARC), Sara Lechtenberg-Kasten - King Abdullah Petroleum Studies and Research Center (KAPSARC), Puneet Kamboj - Council on Energy, Environment and Water
The Role of The IMF in Facilitating Green Energy Transitions
Rishikesh Ram Bhandary - Research Fellow, Center for International Environment and Resource Policy, The Fletcher School, Tufts University, Aasheerwad Dwivedi - Center for Social and Economic Progress (CSEP), New Delhi (India), Daniel Titelman - United Nations Economic Commission for Latin America and the Caribbean, Laveesh Bhandari - Center for Social and Economic Progress (CSEP), New Delhi (India), Noel Perez - Economic Commission for Latin America and the Caribbean (ECLAC), Marilou Uy - Intergovernmental Group of Twenty-Four (G24), Sara Ahmed - The Vulnerable 20 Group, Amar Bhattacharya - Brookings Institution
Turning Sustainable Finance into Mainstream Finance
José Siaba Serrate - Argentine Council for International Relations CARI
Monetary Policy and Financial System Resilience
Claude Lopez - Milken Institute, Franco Bruni - Bocconi University Milan
Central Banks and the G20 Agenda: Ensuring Policy Coherence
José Siaba Serrate - Argentine Council for International Relations CARI
Strengthening the International Monetary Fund for Stability and Sustainable Development
Haihong Gao - Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS), Kevin P. Gallagher - Global Development Policy Center, Boston University, USA
The Macroprudential Policy Framework Needs to Be Global
Claude Lopez - Milken Institute, Franco Bruni - Bocconi University Milan
Global Monetary Policy Coordination Meetings
Antonio Villafranca - ISPI, Franco Bruni - Bocconi University Milan, José Siaba Serrate - Argentine Council for International Relations CARI
Creating Credit from De Facto Collateral Rights
Steven L. Schwarcz - Duke University School of Law, Durham (USA)
Scaling Development Finance for Our Common Future
Kevin P. Gallagher - Global Development Policy Center, Boston University, USA, José Siaba Serrate - Argentine Council for International Relations CARI
Addressing Excessive Risk-Taking in the Financial Sector: A Corporate Governance Approach
Steven L. Schwarcz - Duke University School of Law, Durham (USA),
Strengthening the Global Financial Safety Net
Haihong Gao - Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS), Pavel Trunin - Gaidar Institute for Economic Policy, Sergey Drobyshevsky - GAIDAR Institute for Economic Policy
Beyond Financial Regulation: the Need For a Broader and More Coordinated Capital Flow Management Strategy
José Siaba Serrate - Argentine Council for International Relations CARI,
Resilience and Inclusive Growth
Christian Kastrop - Global Solutions Initiaitve,
Countercyclical sovereign financing mechanism for EM economies post Covid-19 recovery: opportunities for multilateral action by the G20
Teuku Riefky - University of Indonesia (LPEM FEB UI), Alvin Lumbanraja - Kellogg School of Management, Northwestern University, Evanston IL (USA), Andry Asmoro - Bank Mandiri, Jakarta (Indonesia)
Resetting the global financial safety net for the Covid-19 recovery
Haihong Gao - Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS), José Antonio - Ocampo School of International and Public Affairs (SIPA), Columbia University, New York (USA), Ulrich Volz - SOAS University of London, William N. Kring - Pardee School of Global Studies, Boston University
Policies for managing a wave of sovereign debt crises
Patrick Bolton - Columbia University, New York (USA), Mitu Gulati - Duke University School of Law, Durham (USA), Ugo Panizza - Fondazione Luigi Einaudi, Turin (Italy)
Mitigating and managing the effects of climate change on macro-financial stability and sovereign risk
John Beirne - Asian Development Bank Institute, Tokyo (Japan), Nuobu Renzhi - Capital University of Economics and Business (CUEB), Beijing (China), Ulrich Volz - SOAS University of London
Exiting the Covid Global Recession: Policy Proposals
Nuno Cassola - CefES University of Milano-Bicocca (Italy); CEMAPRE University of Lisbon (Portugal), Claudio Morana - CefES University of Milano-Bicocca (Italy), Patrizio Tirelli - University of Pavia (Italy); Griffith University, Brisbane (Australia),
Addressing governance in the token tconomy
Alejandro Garofali - Pica European Institute of International Studies (EIIS), Stockholm (Sweden), Jonathan Violante - Pica European Institute of International Studies (EIIS), Stockholm (Sweden)
A world recovery fund to overcome developing countries post-Covid debt woes?
Alicia García Herrero - Bruegel, Hong Kong University of Science and Technology, and NATIXIS.
Using risk securitization to ensure against pandemic-related risk
Steven L. Schwarcz - Duke University School of Law, Durham (USA)
The need for a development-centred climate change policy at the International Monetary Fund
Laveesh Bhandari - Center for Social and Economic Progress (CSEP), New Delhi (India), Rishikesh Ram - Bhandary Global Development Policy Center, Boston University (USA), Amar Bhattacharya - Brookings Institution, Kevin P. Gallagher - Global Development Policy Center, Boston University, USA, Toby Melissa C. Monsod - University of the Philippines and Financial Futures Center, Manila (Philippines), Marilou Uy - Intergovernmental Group of Twenty-Four (G24)
The emergence of new monies and the need to prepare the financial system for the digital age
José Siaba Serrate - Argentine Council for International Relations CARI, Claude Lopez - Milken Institute
International standards and the role of central banks in global financial governance
Daniel Bradlow - Centre for Human Rights, University of Pretoria (South Africa), Stephen Park - University of Connecticut (USA)
Ensuring ESG impact: Four actionable recommendations for a dependable path
Claude Lopez - Milken Institute, José Siaba Serrate - Argentine Council for International Relations CARI
Expanding the global financial safety net
Kevin P. Gallagher - Global Development Policy Center, Boston University, USA, Haihong Gao - Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS), Ulrich Volz - SOAS University of London, José Antonio Ocampo - School of International and Public Affairs, Columbia University, William N. Kring - Pardee School of Global Studies, Boston University
Covid-19 crisis: How should the G20 support heavily indebted low-income countries?
Kathrin Berensmann - German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE), Abebe Shimeles - African Economic Research Consortium (AERC), Njuguna Ndung’u - African Economic Research Consortium (AERC), Aloysius Uche Ordu - SAfrica Growth Initiative, Brookings Institution,
Assessing the impact of stablecoins on the international monetary system: G20 and IMF to study the impac of Facebook’s libra project
Bertrand Rioux - King Abdullah Petroleum Studies and Research Center (KAPSARC), Eiji Ogawa - Tokyo Keizai University, Fatima Yousef Al Sabaie - Bahrain Center for Strategic International and Energy Studies, José Siaba Serrate - Argentine Council for International Relations CARI
Time to implement a tech-driven sovereign debt transparency initiative: Concept, design, and policy actions
Rym Ayadi - Euro-Mediterranean Network for Economic Studies (EMNES), CASS Business School, Emilios Avgouleas - School of Law, University of Edinburgh
Monitoring countrie’s commitment against illicit financial flows
Aitor Pérez - Elcano Royal Institute, Gerardo Rodríguez - Universidad de las Américas Puebla
Digital money is here: G20 (Thinking) must go digital. A systemic agenda is necessary to steer the risky transition process and reap long-term benefits
José Siaba Serrate - Argentine Council for International Relations CARI, Claude Lopez - Milken Institute, Halit Ünver - Research Institute for Applied Knowledge Processing, University of Ulm, Sergey Drobyshevsky - GAIDAR Institute for Economic Policy, Pavel Trunin - Gaidar Institute for Economic Policy
Bigtech companies: An inclusive and global regulatory framework is needed
Claude Lopez - Milken Institute, José Siaba Serrate - Argentine Council for International Relations CARI
Monetary policies, strategies, and the Covid-19 crisis
Franco Bruni - Bocconi University Milan, José Siaba Serrate - Argentine Council for International Relations CARI
Coordinated and comprehensive fiscal and monetary stimulus for tackling the Covid-19 crisis
Naoyuki Yoshino - Financial Research Centre, FSA Institute, Jean Dong - Australia-China Belt and Road Initiative, Nella Sri Hendriyetty - Center for Regional and Bilateral Policy, Ministry of Finance Indonesia, Peter J. Morgan - Asian Development Bank Institute (ADBI)
Digital Money Is Here: G20 (‘s Thinking) Has To Go Digital, Too
José Siaba Serrate - Argentine Council for International Relations CARI, Claude Lopez - Milken Institute, Halit Ünver - Research Institute for Applied Knowledge Processing, University of Ulm, Sergey Drobyshevsky - GAIDAR Institute for Economic Policy, Pavel Trunin - Gaidar Institute for Economic Policy
Commentaries and Articles
T20 Recommendations Report: International Financial Architecture for Stability and Development
Compiled by Dennis Görlich (IfW Kiel), Katharina Lima de Miranda (IfW Kiel) and Juliane Stein-Zalai (IfW Kiel)
A Coordinated, Unlimited and Flexible Insurance Policy to Respond to the Pandemic
By Gonzalo García-Andrés (Elcano Royal Institute)
Supply and Demand Shocks in the COVID-19 Pandemic: An Industry and Occupation Perspective
By Anton Pichler, François Lafond, J. Doyne Farmer, R. Maria del Rio-Chanona, Penny Mealy (University of Oxford – Institute for New Economic Thinking)
Realizing the low-carbon future – Global Solutions Journal
Green finance in emerging markets – Global Solutions Journal
Vas-Y: Public-privatepartnership model for unlocking private investment for fragile states – Global Solutions Journal
EU solidarity in exceptional times: Corona transfers instead of Coronabonds
By Daniel Gros (CEPS)
This is what the economic fallout from coronavirus could look like
By Nouriel Roubini (Stern School of Business)
The economic, political and moral case for a European fiscal policy response to COVID-19
By Thorsten Beck (Cass Business School)
The Greater Trade Collapse of 2020: Learnings from the 2008-09 Great Trade Collapse
By Richard Baldwin (Graduate Institute Geneva)
COVID-19 and global capital flows
OECD Policy Responses to Coronavirus (COVID-19)

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