Thursday , January 27 2022
Home / Tag Archives: Global Economics & Governance (page 9)

Tag Archives: Global Economics & Governance

The pandemic will structurally change the global economy more than we think

It is time to rethink many of the basic principles of our economic model to mitigate the impacts of the COVID-19 pandemic. Those who say there are no letters left in the alphabet to describe the evolution of the world economy after the pandemic are absolutely right. It is abundantly clear now that we cannot expect to see a rapid V-shaped recovery — nor should we expect a complete stagnation or a L-shaped recovery. The square root-shaped economy The newest version of recovery, the K-shape,...

Read More »

For the euro there is no shortcut to becoming a dominant currency

As an international currency, the euro has always been a distant second to the dollar. The idea of a greater international role for the euro has been floated, but without major institutional reform, the euro will not become a dominant currency. This blog post was originally posted by Makronom. When created two decades ago, the euro immediately became the world’s second most important currency. But it has remained a distant second to the US dollar. Its internationalisation peaked in 2005 and...

Read More »

What should Europe expect from American trade policy after the election?

A Joe Biden Administration would have to decide to what extent to unpick the major United States trade policy shifts of the last four years. A quick return to comprehensive trade talks with the European Union is unlikely and the US will remain focused on its rivalry with China. Nevertheless, there would be areas for EU/US cooperation, not least World Trade Organisation reform. The European Union-United States trade and investment relationship remains the world’s most intensive even after...

Read More »

The Future of Globalisation

Dani Rodrik explains the globalisation paradox. In this episode, we propose a full lecture about the future of globalisation by Dani Rodrik, Professor of International Political Economy, at the John F. Kennedy School of Government, of Harvard University. Rodrik argues that the model of hyper globalization we have been pursuing is unsustainable and that we have an opportunity to embark on a sounder, healthier globalisation. And he outlines his views on what such a globalisation might look...

Read More »

Trump’s International Economic Legacy

If Donald Trump loses the United States presidential election in November, he will ultimately be seen to have left little mark in many areas. But in the US's relationship with China, the decoupling of economic links could continue, and that could force Europe into hard choices. By: Jean Pisani-Ferry Date: September 29, 2020 Topic: Global Economics & Governance This opinion post was originally published in Project Syndicate. It would be foolish to start celebrating the end...

Read More »

How Can the European Parliament Better Oversee the European Central Bank?

This paper, written at the request of the Committee on Economic and Monetary Affairs, assesses how the European Parliament holds the European Central Bank accountable. The same exercise is done for the Bank of Japan, in order to identify possible lessons for the ECB and the European Parliament. This paper was prepared for the European Parliament’s Committee on Economic and Monetary Affairs (ECON) as an input to the Monetary Dialogue of 28 September 2020 between ECON and the President of the...

Read More »

China’s ‘dual circulation’ plan is bad news for others’ exports

This opinion piece was originally published in Nikkei’s Asian Review. Minds in Beijing are focusing increasingly on the upcoming meeting of the Chinese Communist Party Central Committee next month. High on the body’s agenda will be sketching out a new official five-year plan for Asia’s largest economy. A freshly coined buzzword looks set to play […] This opinion piece was originally published in Nikkei’s Asian Review. Minds in Beijing are focusing increasingly on the upcoming meeting of the...

Read More »

Climate finance: an agenda for EU coordination with emerging markets

Addressing the challenge of financing the low-carbon transition will require substantial investment in the European Union and in emerging and developing economies. Sustainable finance frameworks have proliferated in advanced and emerging markets but fragmentation of financial flows due to different classification systems and standards for green financial instruments is a real risk. Ensuring consistency should be a core agenda for the new International Platform on Sustainable Finance....

Read More »

An appropriate European Union response to tensions in the Eastern Mediterranean

If the European Union can mediate effectively to resolve current Greek-Turkish tensions over energy in the Eastern Mediterranean, it could also provide an opportunity to tackle more deep-rooted problems. The European Union is seeking to mediate in a naval confrontation on its doorstep, in the Eastern Mediterranean, which involves NATO partners Greece and Turkey, as well as EU member Cyprus. EU foreign ministers are discussing the issue and, without de-escalation, sanctions against Turkey...

Read More »

Emerging market central banks and quantitative easing: high-risk advice

Central banks in emerging markets with weak currencies should not resort to unorthodox monetary tools such as quantitative easing as a response to the crisis triggered by COVID-19. Preferable alternatives include shifting public spending away from less pressing needs, moderately increasing public debt and falling back on official development assistance. The idea that ‘credible’ emerging-market central banks (EMCBs) could embrace quantitative easing (QE) to tackle the consequences of the...

Read More »