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  • Author: Gary Clyde Hufbauer
  • Publication Date: 03-2021
  • Content Type: Policy Brief
  • Institution: Peterson Institute for International Economics
  • Abstract: Open Sub-navigation BackOpen Sub-navigation Publications Back Policy Briefs Working Papers Books PIIE Briefings Open Sub-navigation Commentary Back Op-Eds Testimonies Speeches and Papers Topics & Regions PIIE Charts What Is Globalization? Educational Resources Open Sub-navigation Back Senior Research Staff Research Analysts Trade Talks Open Sub-navigation Back RealTime Economic Issues Watch Trade & Investment Policy Watch China Economic Watch North Korea: Witness to Transformation 中文 Open Sub-navigation Back All Events Financial Statements Global Connections Global Economic Prospects Stavros Niarchos Foundation Lectures Trade Winds Open Sub-navigation Back News Releases Multimedia Media Center Open Sub-navigation Back Board of Directors Staff Employment Contact Annual Report Transparency Policy POLICY BRIEF VIEW SHARING OPTIONS Will industrial and agricultural subsidies ever be reformed? Gary Clyde Hufbauer (PIIE) Policy Brief21-5 March 2021 Photo Credit: REUTERS/Denis Balibouse One economic argument for government subsidies is that they are necessary to compensate firms and industries for benefits they provide to society at large but cannot capture in the prices they charge for goods or services. For example, subsidies to renewable energy are defended because renewable energy limits carbon emissions. When a major economy subsidizes extensively, however, its trading partners are drawn into the game, with losses all around. As the prisoner’s dilemma suggests, a better outcome would entail mutual restraint. But the goal of mutual restraint is no less difficult in international trade than it is in international arms control. Both the European Union and the US federal system try, in different ways, to regulate industrial subsidies. Hufbauer examines efforts to contain unjustifiable subsidies and proposes modest improvements, bearing in mind that as countries struggle to overcome the global economic downturn resulting from the COVID-19 pandemic, there is little appetite for restoring a free market economy—one in which firms compete with minimum government assistance or regulation. Selective upgrading of the rulebook may nevertheless be possible.
  • Topic: Agriculture, Government, Reform, European Union, Regulation, Manufacturing, Industry, COVID-19, Subsidies
  • Political Geography: Europe, North America, United States of America
  • Author: Olivier Marty, Damien Ientile
  • Publication Date: 03-2021
  • Content Type: Policy Brief
  • Institution: Robert Schuman Foundation (RSF)
  • Abstract: Despite the European Union's ambitious response, the current crisis is a stark reminder of a nagging problem: the challenge, in practice, to the principles and concepts governing major European economic policies. This situation can be seen in monetary policy, budgetary rules, trade policy, competition, the European budget and the structure of the euro zone. It fuels resentment between Member States and populations and, paradoxically, it encourages economic divergence. It is also undermining the legibility and credibility of European action in the eyes of the public. It therefore would seem advisable to reform the European economic framework in a pragmatic rather than radical way.
  • Topic: Reform, Budget, Economic Policy, Trade Policy
  • Political Geography: Europe
  • Author: Danièle Hervieu-Léger
  • Publication Date: 01-2021
  • Content Type: Policy Brief
  • Institution: Robert Schuman Foundation (RSF)
  • Abstract: Crises reveal the state of a policy, reveal its ambiguities, strengths and shortcomings, and sometimes force a redefinition or clarification of its guiding principles to ensure its sustainability, if not its survival. Although at the height of the crisis, there is a reflex to completely overhaul what already exists, the constants and structuring considerations quickly tend to dampen the ardour for reform.
  • Topic: Reform, European Union, Trade, COVID-19, Adaptation
  • Political Geography: Europe
  • Author: Marek Dabrowski, Marta Dominguez-Jimenez, Georg Zachmann
  • Publication Date: 06-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: Since the Euromaidan protests (2013-2014), Ukraine has had two presidents and four governments. In a difficult environment of external aggression, they have initiated various reforms aimed at bringing the country closer to the European Union and boosting growth. Progress has been partial and relies on international backing, with limited domestic appetite for reform.
  • Topic: Corruption, Privatization, Foreign Aid, Governance, Reform, European Union, Finance, Macroeconomics
  • Political Geography: Europe, Ukraine
  • Author: Sofia López Piqueres
  • Publication Date: 05-2020
  • Content Type: Policy Brief
  • Institution: European Policy Centre
  • Abstract: Reforms to corporate governance and EU company law could support the Union’s recovery efforts and promote a sustainable economy at the same time. This Policy Brief assesses two instruments in the EU corporate governance toolbox: the Non-Financial Reporting Directive (NFRD), which requires large companies to disclose information about how they are run and how their activities impact the environment and human rights, and the Shareholder Rights Directive II (SRDII), which aims to strengthen the position of shareholders and reduce short-termism and excessive risk-taking by companies. It also covers the principle of shareholder primacy – the idea that shareholder interests should take precedence over all else – and executive remuneration.
  • Topic: Governance, Law, Reform, European Union, Business , Sustainability
  • Political Geography: Europe
  • Author: Gustav Gressel
  • Publication Date: 08-2019
  • Content Type: Policy Brief
  • Institution: European Council On Foreign Relations
  • Abstract: Despite Ukrainians’ deep unhappiness with the corruption and inefficiency of the judiciary and security bodies, the Poroshenko administration failed to reform these services. Political interference and personal enrichment have long been part of the practice of these services, overshadowing the strong work they are often capable of and holding back reformist elements. The office of the prosecutor general and the Ukrainian Security Service need particular attention, but merely passing new laws will not be enough: replacing incumbent high-level officials should be an early step. The EU, US, and NATO have worked effectively together on encouraging reform in Ukraine, but they must now ensure that these services remain high in the minds of the Zelensky administration and of Rada members.
  • Topic: Security, Corruption, Government, Reform, Judiciary
  • Political Geography: Europe, Ukraine
  • Author: Shang-Yen Lee, Christian Kvorning Lassen
  • Publication Date: 05-2019
  • Content Type: Policy Brief
  • Institution: Europeum Institute for European Policy
  • Abstract: The latest policy paper by our Shang-Yen Lee and Christian Kvorning Lassen focuses on the reform of Dublin IV regulation under the Common European Asylum System and its prospects after the EP elections. The reform of Dublin IV regulation under the Common European Asylum System (CEAS) has stagnated for years, leaving the EU ill-prepared for future migration and asylum challenges. A reform of Dublin IV is a prerequisite to a comprehensive CEAS reform towards greater solidarity and fairer sharing of responsibilities between the Member States, yet divisions between Parliament and Commission as well as liberal and ‘illiberal’ fault lines have complicated the reform process. The EP elections will most likely stagnate the process further due to a surge in nationalist Eurosceptic MEP’s, which could delay CEAS reform for the foreseeable future, to the detriment of the EU.
  • Topic: Reform, Elections, European Union, Asylum
  • Political Geography: Europe
  • Author: Pranvera Tika
  • Publication Date: 01-2017
  • Content Type: Policy Brief
  • Institution: Hellenic Foundation for European and Foreign Policy (ELIAMEP)
  • Abstract: Briefing Note 50/2016 of ELIAMEP South-East Europe Programme focuses on the domestic political situation in Kosovo. It investigates the phenomenon of extreme polarisation between the government and the opposition in Pristina, which hampers the process of state building as well as the adoption of reforms and agreements considered necessary by the international community.
  • Topic: Foreign Policy, Government, Reform, Domestic politics, Polarization
  • Political Geography: Europe, Kosovo
  • Author: Manuel de la Rocha Vàzquez
  • Publication Date: 11-2017
  • Content Type: Policy Brief
  • Institution: Fundación Alternativas
  • Abstract: Completing, deepening and rebalancing the Economic and Monetary Union is perhaps the most crucial point of the dense European policy agenda. For social democrats, reforms of the Eurozone cannot aim exclusively at stabilising financial and sovereign markets or introducing more fiscal Discipline. From a progressive perspective, the main objective of reforming the Economic and Monetary Union is to address the problems of low growth and high unemployment, lack of social convergence and the democratic deficit. The authors present some crucial elements for a reform inspired by progressive values; they advocate for a fully-fledged Banking Union, a Convergence Code, a real Social Dimension and a Fiscal Capacity which includes both a stabilisation and an investment function.
  • Topic: Reform, Brexit
  • Political Geography: Europe
  • Author: Toni Alaranta
  • Publication Date: 06-2014
  • Content Type: Policy Brief
  • Institution: Finnish Institute of International Affairs
  • Abstract: Ever since the founding of the Republic in 1923, the idea of making Turkey a European country has been a major component of the nation-building project, although Europe has also been perceived as a threat. The incumbent Justice and Development Party (AKP) embarked on an EU-inspired reform project at first, but has subsequently taken an increasingly anti-European position. Turkey's EU bid under the AKP government needs to be seen within the context of the domestic power struggle, whose origins can be traced to two opposing modernization alternatives: radical and Islamic. Within the domestic power struggle, the AKP has used the EU process as a tool to de-legitimize the secularist state elite-lite, composed of the armed forces and the judiciary. After having consolidated its hegemony, the AKP abandoned its EU aspirations, and there is currently very little societal pressure from the AKP constituency to continue the EU reforms.
  • Topic: Power Politics, Regime Change, Reform
  • Political Geography: Europe, Turkey