Larionova M., Dr. of Political Science, Head of International Organisations Research Institute of the National Research University – Higher School of Economics, Head of International Programmes at the National Training Foundation; E-mail: mlarionova@hse.ru

Rakhmangulov M., Deputy Director of the Informational-Analytical G8 Research Centre of the International Organisations Research Institute of the National Research University – Higher School of Economics; E-mail: MRakhmangulov@hse.ru

This paper attempts to put G8 and G20 institutions within the same assessment paradigm on the basis of a functional framework. This approach allows comparing the G8 and G20 across at least three groups of indicators: performance of global governance functions, accountability and compliance performance; contribution towards global governance agenda; and engagement with the other international institutions. It begins with outlining the methodology, and goes over to the main findings and conclusions on each of the dimensions. Thus the study contributes to building a quantifiable evidence base for an assessment of the G20 and G8 effectiveness and to inform forecast of their future roles.