Financing Europe's fast movers
by Nicolas Véron on 19 January 2008
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Category: POLICY BRIEFS
Topics: Research, innovation and growth, Trade, investment and competitiveness
This policy brief deals with the link between corporate finance and growth. The discussions about structural reform in Europe, including the EU‘s Lisbon strategy, put a legitimate emphasis on labour and product market reforms, but often overlook the role of the financial system in fostering expansion. Thomas Philippon and Nicolas Véron analyse this gap and outline a number of possible policy responses.
Why Reform Europe's Universities?
by Philippe Aghion, Mathias Dewatripont , Caroline Hoxby , Andreu Mas-Colell, André Sapir on 31 August 2007
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Category: POLICY BRIEFS
Topics: Research, innovation and growth
Based on a survey of European universities, this policy brief states that despite the good performance of some countries, Europe as a whole trails the US by a wide margin. The reason is two-fold. First, Europe invests too little in higher education. Second, European universities suffer from poor governance, insufficient autonomy and often perverse incentives. If Europe is to be a leader in the global knowledge economy, comprehensive reform of higher education is the order of the day. Most countries should invest an extra one percent in higher education each year, and universities should be given more autonomy in budgets, hiring and remuneration.
Fragmented power: Europe and the global economy
by André Sapir on 31 August 2007
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Category: BOOKS
Topics: European and global governance, Research, innovation and growth, Trade, investment and competitiveness
The European Union is the world‘s largest economic entity, with half a billion people and a gross domestic product slightly larger than the United States. It is the largest exporter, the largest foreign aid donor, the largest source of foreign investment, and a magnet for migrants. But its decision-making powers are often fragmented and ineffective.
To date there has been no comprehensive study of European international economic relations. This book fills that gap. It examines the main areas of Europe‘s foreign economic policy: trade, development, external competition policy, external financial markets, external monetary policy, migration and external energy/environment policy.
This book explains why it is time for the EU to wake up to its global responsibilities, and why, in the absence of reform of its governance system, Europe risks remaining a fragmented power.
The contributors to the volume are Alan Ahearne, Marco Becht, Olivier Bertrand, Arne Bigsten, Herbert Brücker, Beno√Æt Coeuré, Luis Correia Da Silva, Barry Eichengreen, Simon J. Evenett, Marc Ivaldi, Jean Pisani-Ferry, André Sapir, Coby van der Linde and Jakob von Weizsäcker.
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Le fonds Européen d‘ajustement é la mondialisation: pour quoi faire?
by Etienne Wasmer, Jakob von Weizsäcker on 17 August 2007
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Category: EXTERNAL PUBLICATIONS
Topics: European and global governance, Research, innovation and growth, Trade, investment and competitiveness
Jakob von Weizsäcker and Etienne Wasmer argue that the European Globalisation Adjustment Fund should focus its expenditures on wage insurance and mobility allowances for trade displaced workers.
Published in La revue de l'OFCE, no 102
A primer on innovation and growth
by Philippe Aghion on 09 October 2006
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Category: POLICY BRIEFS
Topics: Research, innovation and growth
Philippe Aghion emphasises that for Europe to stimulate innovation and growth, it is not enough to increase spending on research and development and the protection of intellectual property.