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We are now in the era of the G8, although the G7 still exists as a grouping for Finance Ministers. Why do G7 finance ministries and central banks co-operate? What are the implications of this co-operation for US power and the abilities of the other six states to exercise leadership? What role do the G7 play in global financial governance? How much authority do they possess and how is that authority exercised? This is the first major monograph on the political economy of G7 finance ministry and central bank co-operation. It argues that to understand the contribution of the G7 to global financial governance it is necessary to locate the process in the context of a wider world financial order comprised of decentralized globalization. It also provides original case study material on the G7's contribution to macroeconomic governance and to debates on the global financial architecture over the last decade. It assesses the G7's role in producing a system of global financial governance based on market supremacy and technocratic transgovernmental consensus and articulates normative criticisms of the G7's exclusivity. For researchers in the fields of IR/IPE generally, postgraduate students in the field of international organization and global governance, policy makers and financial journalists this is the most extensive analysis of the G7 and the political economy of global financial governance to date.

We are now in the era of the G8, although the G7 still exists as a grouping for Finance Ministers. Why do G7 finance ministries and central banks co-operate? What are the implications of this co-operation for US power and the abilities of the other six states to exercise leadership? What role do the G7 play in global financial governance? How much authority do they possess and how is that authority exercised? This is the first major monograph on the political economy of G7 finance ministry and central bank co-operation. It argues that to understand the contribution of the G7 to global financial governance it is necessary to locate the process in the context of a wider world financial order comprised of decentralized globalization. It also provides original case study material on the G7's contribution to macroeconomic governance and to debates on the global financial architecture over the last decade. It assesses the G7's role in producing a system of global financial governance based on market supremacy and technocratic transgovernmental consensus and articulates normative criticisms of the G7's exclusivity. For researchers in the fields of IR/IPE generally, postgraduate students in the field of international organization and global governance, policy makers and financial journalists this is the most extensive analysis of the G7 and the political economy of global financial governance to date.

This paper examines the nature & scope of activities of the Group of Seven (G7). The G7 is a process, not an institution. It has no "home," no secretariat, & no legal status; it is simply a regular cycle of informal meetings & interactions among representatives of the central banks & finance ministries of Canada, France, Germany, Italy, Japan, the UK, & the US. Yet despite this lack of tangibility, the G7 is considered by the global public (in particular, as represented by the major international nongovernmental organizations) & the academic community as a crucial agent of economic governance. The author examines the historical evolution of the G7 as a regularized multilateral process; the functions, power, & distinctive characteristics of the G7 process; & the implications of changes over time in the G7's agenda & activities for its global role & authority. It is argued that fundamental changes in the G7 are needed -- in its name, since it should evolve beyond country membership; but also in the range of its constituencies, which should extend to other than just financial institutions. Such major reforms, though unlikely, would be truly momentous. S. Stanton

In this paper, the adaptive lasso method is used to screen variables, and different neural network models of seven countries are established by choosing variables. Gross domestic product (GDP) is a function of land area in the country, cultivated land, population, enrollment rate, total capital formation, exports of goods and services, and the general government&rsquo ; s final consumption of collateral and broad money. Based on the empirical analysis of the above factors from 1973 to 2016, the results show that the BP neural network model has better performance based on multiple summary statistics, without increasing the number of parameters and better predicting short-term GDP. In addition, the change and the error of the model are small and have a certain reference value.

ABSTRACTIn the next 30 to 40 years, past changes in fertility and mortality will lead to a significant increase in the share of the elderly. This study suggests that these demographic trends may lead to a decline in the G–7 private savings rate after 2000, compounding the impact of social expenditure pressures on the government's deficit. Moreover, public pensions may decline as a share of the consumption needs of the elderly, leading to financial pressures to reduce their consumption. The reduced burden of child support on the working population will not offset the increased burden of societal support for the elderly.

Summarizes prospective demographic trends and analyzes potential developments in savings and consumption; based on conference paper.

An attempt is made to evaluate the implications for the savings rate, the distribution of consumption across age groups, & levels of intergenerational support for the major industrial countries, based on analysis of secondary data. Results indicate that within the next forty years, changes in fertility & mortality will lead to a significant increase in the proportion of elderly in the population, which may lead to a decline in the private savings rate after the year 2000, compounding the impact of social expenditure pressures on the government's deficit. Moreover, public pensions may decline, leading to financial pressures & reduction of consumption among the elderly. The reduced burden of child support on the working population will not offset the increased burden of societal support for the elderly. 9 Tables, 1 Chart, 2 Appendixes, 11 References. Modified HA

Suggests that demographic trends may lead to a decline in the G-7 private savings rate after 2000, compounding the impact of social expenditure pressures on the government's deficit, and public pensions may decline as a share of the consumption needs of the elderly, leading to financial pressures to reduce their consumption. (Abstract amended)