by Devin Dwyer

The G-20's pledge of $1.1 trillion in new resources for fighting the global economic crisis is a noteworthy outcome of yesterday's summit. The communique says the funds will "restore credit, growth and jobs in the world economy." The leaders also agreed to tighter regulations on hedge funds, rating agencies and tax havens.

But will these things help resolve the crisis in the short term?

Carl B. Weinberg, chief economist with High Frequency Economics, says the measures are praiseworthy but aren't a prescription for restored economic growth:

"The health of the biggest countries in the world, the locomotives of the global economy, is not improved by any of these measures... No economic recession was ever reversed by regulation. Money talks, and the money on the table right now for the European economies and Japan is not enough to do what has to be done to support demand."

The sum total of international fiscal stimuli to date, according to the communique, is $5 trillion.