Search

You searched for: Publishing Institution Bruegel Remove constraint Publishing Institution: Bruegel Publication Year within 10 Years Remove constraint Publication Year: within 10 Years Publication Year within 5 Years Remove constraint Publication Year: within 5 Years Topic Governance Remove constraint Topic: Governance
Number of results to display per page

Search Results

  • 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: Maria Demertzis, Marta Dominguez-Jimenez, Annamaria Lusardi
  • Publication Date: 07-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The concept of household financial fragility emerged in the United States after the 2007-2008 financial crisis. It grew out of the need to understand whether households’ lack of capacity to face shocks could itself become a source of financial instability.
  • Topic: Governance, European Union, Finance, Macroeconomics, COVID-19
  • Political Geography: Europe
  • Author: Dirk Schoenmaker
  • Publication Date: 07-2020
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: Governments and companies can reinforce each other in their pursuit of sustainable development, which is based on three pillars: economic, social and environmental. An impact economy, in which governments and companies balance profit and impact, is best placed to achieve the United Nations sustainable development goals.
  • Topic: Economics, Environment, United Nations, Governance, Sustainable Development Goals, Business , Private Sector
  • Political Geography: Global Focus
  • Author: Maria Demertzis, André Sapir, Simone Tagliapietra, Guntram B. Wolff
  • Publication Date: 03-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: 'Whatever it takes' needs to be the motto to preserve lives and reduce the impact on the economy of the epidemic.
  • Topic: Governance, Economy, Central Bank, Macroeconomics, COVID-19
  • Political Geography: Europe
  • Author: Zsolt Darvas, Zoltan Schepp
  • Publication Date: 04-2020
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: This paper presents unprecedented exchange rate forecasting results based upon a new model which approximates the gap between the fundamental equilibrium exchange rate and the actual exchange rate with the long-maturity forward exchange rate.
  • Topic: Economics, Governance, Global Political Economy, Exchange Rate Policy
  • Political Geography: Global Focus
  • Author: Rebecca Christie, Thomas Wieser
  • Publication Date: 05-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: In the negotiations between the European Union and the United Kingdom over their future relationship, we see a high probability of a weak contractual outcome, given the dominance of politics over considerations of market efficiency.
  • Topic: Markets, Governance, Europe , Brexit, Negotiation, Macroeconomics
  • Political Geography: United Kingdom, Europe
  • Author: Gregory Claeys
  • Publication Date: 05-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: To keep the euro-area economy afloat, the European Central Bank has put in place a large number of measures since the beginning of the COVID-19 crisis. This response has triggered fears of a future increase in inflation. However, the ECB's new measures and the resulting increase in the size of its balance sheet, even if it were to be permanent, should not restrict its ability to achieve its price-stability mandate, within its legal obligations.
  • Topic: Governance, Central Bank, Macroeconomics, Judiciary, COVID-19
  • Political Geography: Europe
  • Author: Alienor Cameron, Gregory Claeys, Catarina Midoes, Simone Tagliapietra
  • Publication Date: 02-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: On 14 January 2020, the European Commission published its proposal for a Just Transition Mechanism, intended to provide support to territories facing serious socioeconomic challenges related to the transition towards climate neutrality. This brief provides an overview and a critical assessment of the first pillar of this Mechanism, the Just Transition Fund (JTF).
  • Topic: Climate Change, Governance, Budget, European Union, Macroeconomics, Renewable Energy, Transition
  • Political Geography: Europe
  • Author: Marta Dominguez-Jimenez, Niclas Poitiers
  • Publication Date: 02-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: Most foreign direct investment into Russia originates in the European Union: European investors own between 55 percent and 75 percent of Russian FDI stock. This points to a Russian dependence on European investment, making the EU paramount for Russian medium-term growth. Even if we consider ‘phantom’ FDI that transits through Europe, the EU remains the primary investor in Russia. Most phantom FDI into Russia is believed to originate from Russia itself and thus is by construction not foreign.
  • Topic: Economics, Energy Policy, Foreign Direct Investment, Governance, Sanctions, European Union, Global Political Economy
  • Political Geography: Russia, Europe
  • Author: Zsolt Darvas, Marta Dominguez-Jimenez, Guntram B. Wolff
  • Publication Date: 02-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The European Central Bank’s November 2019 Financial Stability Review highlighted the risks to growth in an environment of global uncertainty. On the whole, the ECB report is comprehensive and covers the main risks to euro-area financial stability, we highlight issues that deserve more attention.
  • Topic: Governance, Finance, Central Bank, Macroeconomics
  • Political Geography: Europe
  • Author: Michael Leigh, Beth Thompson, Reinhilde Veugelers
  • Publication Date: 01-2020
  • Content Type: Special Report
  • Institution: Bruegel
  • Abstract: This report sets out what the Wellcome Trust and Bruegel have learned from a project to simulate a negotiation process between the UK and EU to create a post-Brexit research and innovation agreement. Our negotiating scenario assumed that the UK had left the EU with a withdrawal agreement, and that the negotiation was taking place during a ‘standstill’ transition period.
  • Topic: Treaties and Agreements, Governance, European Union, Research, Brexit, Macroeconomics, Innovation, Transition
  • Political Geography: United Kingdom, Europe
  • Author: Leonardo Cadamuro, Francesco Papadia
  • Publication Date: 01-2020
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: This Policy Contribution tests the hypothesis that an imbalance has grown in Europe over the last few decades because markets have integrated to a greater extent than European-level policymaking, potentially creating difficulties for the democratic process in managing the economy. This hypothesis has been put forward by several authors but not so far tested empirically.
  • Topic: Markets, Governance, Democracy, Regional Integration, Macroeconomics, Trade Policy
  • Political Geography: Europe
  • Author: Matthew Heim
  • Publication Date: 12-2019
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: This Policy Contribution considers whether European competition law could be applied more directly to state owned enterprises that create an unlevel playing field in Europe due to the support they receive from their home governments. This issue is now a priority for many Member States and the European Commission given the impact on European economic autonomy. Competition law may not be the appropriate tool for addressing the granting of illegal subsidies or other forms of support in third countries but it may be more effective than previously thought in dealing with the effect of state-owned entities that distort the internal market. If SOEs are not be resource-constrained or even profit maximising, such SOEs could be unconstrained by competitive pressures and therefore possess a de facto level of market power. By evolving existing exclusionary antitrust theories of harm, such as predatory pricing, to fit the specificities of SOEs, this Policy Contribution argues that it should be possible to add further tools to the EU’s toolbox. In any event, as part of its efforts to address the distortive effects of foreign state ownership and subsidies in the internal market, the Commission should develop a coherent and proactive competition policy to provide guidance to the market.
  • Topic: Markets, Governance, Macroeconomics, Strategic Competition
  • Political Geography: Europe
  • Author: Zsolt Darvas
  • Publication Date: 12-2019
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: Whenever the European Union’s budget is discussed, much of the political focus is on net balances – whether countries pay in more than they receive – rather than on the broader overall positive effects of EU spending. The largest net contributor countries have sought to limit their contributions, leading to the build-up of an ad-hoc, complex, opaque and regressive system of revenue corrections.
  • Topic: Governance, Budget, European Union, Macroeconomics
  • Political Geography: Europe
  • Author: Uri Dadush, Marta Dominguez-Jimenez, Tianlang Gao
  • Publication Date: 11-2019
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: China and the European Union have an extensive and growing economic relationship. The relationship is problematic because of the distortions caused by China’s state capitalist system and the diversity of interests within the EU’s incomplete federation. More can be done to capture the untapped trade and investment opportunities that exist between the parties. China’s size and dynamism, and its recent shift from an export-led to a domestic demand-led growth model, mean that these opportunities are likely to grow with time. As the Chinese economy matures, provided appropriate policy steps are taken, it is likely to become a less disruptive force in world markets than during its extraordinary breakout period.
  • Topic: Economics, Governance, European Union, Investment, Trade
  • Political Geography: China, Europe, Asia
  • Author: Alexander Lehmann
  • Publication Date: 11-2019
  • Content Type: Policy Brief
  • Institution: Bruegel
  • Abstract: The deep involvement of a number of euro-area banking groups in central and southeastern Europe has benefitted the host countries and has strengthened the resilience of those banking groups. But this integration has become less close because of post-financial crisis national rules that require banks to hold more capital at home, or other ring-fencing measures. There is a risk integration might be undermined further by bank resolution planning, which is now gathering pace. Regulators and banks will need to decide between two distinct models for crisis resolution, and this choice will redefine banking networks. Most efficient in terms of preserving capital and the close integration of subsidiary operations would be if the Single Resolution Board – the banking union’s central resolution authority – takes the lead for the entire banking group. However, this will require parent banks to hold the subordinated debts of their subsidiaries. Persistent barriers to intra-group capital mobility – or the option for home or host authorities to impose such restrictions – will ultimately render such schemes unworkable. The second model would involve independent local intervention schemes, which European Union countries outside the banking union are likely to call for. This will require building capacity in local debt markets, and clarifying creditor hierarchies. Exposure to banking risks will ultimately need to be borne by host-country investors. Bail-in capital issued by subsidiaries to their parents cannot be a substitute because it would expose the home country to financial contagion from the host. To sustain cross-border linkages, banking groups and their supervisors will need to make bank recovery plans more credible, and to strengthen cooperation in resolution colleges (platforms that bring together all relevant parties in resolution planning and execution). Within the banking union there is no justification for the various ring-fencing measures that have impeded the flow of capital and liquidity within banking groups.
  • Topic: Governance, European Union, Regulation, Banks, Macroeconomics
  • Political Geography: Europe
  • Author: Alicia Garcia-Herrero, Jianwei Xu
  • Publication Date: 11-2019
  • Content Type: Working Paper
  • Institution: Bruegel
  • Abstract: China’s economic ties with Russia are deepening. Meanwhile, Europe remains Russia’s largest trading partner, lender and investor. An analysis of China’s ties with Russia, indicate that China seems to have become more of a competitor to the European Union on Russia’s market. Competition over investment and lending is more limited, but the situation could change rapidly with China and Russia giving clear signs of a stronger than ever strategic partnership.
  • Topic: Economics, Markets, Bilateral Relations, Governance, Investment, Exports
  • Political Geography: Russia, China, Europe, Eurasia, Asia