Group on Economic Policy
The Group on Economic Policy (GEP) is a forum for economic and financial experts from the global business community to formulate policy recommendations to governments on macro-economic issues arising as a result of globalization and an interdependent world economy.
About the Group
Fusing and building on the work of the former Commission on Financial Services and Corporate Economists Advisory Group, the Group on Economic Policy (GEP) was formally inaugurated in June 2012.
Victor Chu, Chairman and Chief Executive Officer of the First Eastern Investment Group, and Guillermo de la Dehesa, Board member of Santander Bank and former Spanish Secretary of State of Economy and Finance, spearhead the Group’s activities as co-Chairmen.
Objectives
ICC’s Executive Board has created the GEP whose mission is to advise the Chairmanship and Executive Board on global macro-economic issues and their implications for world business. The GEP has a particular role to play in helping shape ICC’s ongoing input on macro-economic issues into the G20 process. The objectives of the GEP mainly aim to:
- Prepare ICC recommendations on macro-economic issues, dealing with both short and long-term aspects of the global economic crisis;
- Develop global business perspectives on financial/economic regulation, economic stabilization, job creation and open trade and investment.
About macro-economic policy
“Macro-economics” can be defined as the part of economics concerned with large-scale economic aggregates such as national production, employment, investment, consumption, and inflation. Macro-economics is distinguished from “micro-economics” (though there is no clear dividing line) because aggregate economic behaviour is not necessarily compatible with the totality of individual activities. For example, thrift may be commendable in an individual but can, in certain circumstances, be harmful to national economic welfare.
ICC GEP Products