Linda Yueh, 05 August 2018

Between 1960 and 2008, only a dozen or so middle-income countries became prosperous. This column explores the factors affecting how and why some countries become prosperous, while others fail. Consistent with the theories of New Institutional Economics, economies that adopted the economic policies and institutional reforms of successful countries enjoyed the largest increases in prosperity. These successes point to the advantages of looking beyond the economic staples of capital, labour, and technology in fashioning growth policies.

Nauro Campos, 22 June 2018

The issue of how to reform the EU is well discussed in research and policy. But through which institutions and in which order these reforms should take place is less well debated. Nauro Campos discusses the role of Europe’s institutions in its successes and failures. Based on the findings of the recent CEPR eBook, “Bretton Woods, Brussels, and Beyond: Redesigning the Institutions of Europe”, he suggests that the risks of not reforming these institutions are at least another recession across Europe, but also threats to the European project itself.

Coen Teulings, 13 September 2012

Many OECD countries suffer from high sovereign debts. Sooner or later, this problem must be addressed. Many argue that this will require some form of fiscal retrenchment or institutional reform or a combination of the two. This column argues that the two are not complements as many suggest – they are instead substitutes.

Biagio Bossone, 17 October 2009

The G20 recently asserted itself as the “the primary forum for our international economic cooperation.” This column questions the efficiency and legitimacy of such governance. It says that the IMF – the only multilateral financial institution with universal representation – is the natural place for international financial policy cooperation.

Biagio Bossone, 21 April 2009

The IMF appointed a committee, chaired by Trevor Manuel, to look into IMF decision making. This column reviews the report, arguing that it misses critical question on Executive Board reform. Without an independent board, the Fund’s skewed voting power tends to produce uneven treatment of members. Decision-making power must ultimately rest with shareholders but they should be advised by an independent board that acts as the voice of the institution and its membership as a whole.

Biagio Bossone, 14 March 2009

The crisis has revealed many gaps in global economic governance – problems that G20 leaders should address at the London Summit. This column describes a proposal by the “Group of Lecce”, which argues that global economic decision-making should take place within the IMF and World Bank transformed by more responsible, representative, and powerful “Governing Councils”.

Biagio Bossone, 18 February 2009

This column summarises the global crisis debate on institutional reforms to build global financial governance. While various authors disagree about the G20’s suitability and effectiveness, there is agreement that a number of IMF reforms are needed. Moreover, many call for the IMF to significantly increase its lending resources.

Richard Baldwin, 09 June 2007

Public debate on the new treaty focuses on marketing issues (re-packing) or extreme generalities (mini-treaty), but there are important choices to be made, and the various reform elements – such as voting rules, the number of Commissioners and removal of the famous Maastricht pillars – interact in complex ways. First in a series of 4 columns on the issue.

Events

  • 17 - 18 August 2019 / Peking University, Beijing / Chinese University of Hong Kong – Tsinghua University Joint Research Center for Chinese Economy, the Institute for Emerging Market Studies at Hong Kong University of Science and Technology, the Guanghua School of Management at Peking University, the Stanford Center on Global Poverty and Development at Stanford University, the School of Economics and Management at Tsinghua University, BREAD, NBER and CEPR
  • 19 - 20 August 2019 / Vienna, Palais Coburg / WU Research Institute for Capital Markets (ISK)
  • 29 - 30 August 2019 / Galatina, Italy /
  • 4 - 5 September 2019 / Roma Eventi, Congress Center, Pontificia Università Gregoriana Piazza della Pilotta, 4, Rome, Italy / European Center of Sustainable Development , CIT University
  • 9 - 14 September 2019 / Guildford, Surrey, UK / The University of Surrey

CEPR Policy Research