External Publication

Global Economic Resilience: Building Forward Better

A roadmap for systemic economic reform calling for step-change in global economic governance to increase resilience and build forward better from economic shocks, prepared for the G7 Advisory Panel on Economic Resilience.

By: Date: October 14, 2021 Topic: Global economy and trade

This report summarises the work of the Independent G7 Economic Resilience Panel in 2021, and its final policy recommendations, based on engagement and research throughout the year. The Panel, chaired by Lord Mark Sedwill, has produced an agenda for economic resilience, the Cornwall Consensus. The Panel has concluded that investment, standards and governance reform will be critical to overcome future shocks, such as pandemics, and the chronic underlying risks in our economic system. These reforms address the main categories of risk to economic resilience: environmental and health, and geo-political and socio-economic. The recommendations require collective and co-ordinated action by a united G7 to tackle systemic challenges across and within our interconnected markets.

Key recommendations made by the Panel include:

  • Driving international and domestic investment in economic resilience to deliver the new infrastructure and research required to respond to the challenges of the coming decade;
  • Ensuring that international trade rules enable the green transition, by demonstrating leadership by the G7 and allies through smaller agreements and alliances within the World Trade Organisation membership;
  • Committing to information sharing, traceability and Environmental, Social and Governance standards reform for minerals critical to the green transition.

The Panel members were nominated by G7 Heads of State and Government:

  • UK: Mark Sedwill, former Cabinet Secretary and National Security Adviser. Chair of the Atlantic Future Forum
  • Canada: Carolyn Wilkins, former Senior Deputy Governor of the Bank of Canada
  • France: Professor Thomas Philippon, Economist and Professor of Finance at New York University’s Stern School of Business; Economic Adviser to Emmanuel Macron
  • Germany: Dr Stormy-Annika Mildner, Executive Director of the Aspen Institute in Berlin, Adjunct Lecturer Hertie School, and former Head of Department for External Economic Policy at the Federation of German Industries
  • Italy: Professor Mariana Mazzucato, Special Economic Adviser to the Italian Government, and founding director of the UCL Institute for Innovation and Public Purpose at University College London
  • Japan: Professor Nobukatsu Kanehara of Doshisha University, Tokyo; former Assistant Chief Cabinet Secretary to Prime Minister Shinzo Abe
  • USA: Dr Felicia Wong, President and CEO of the Roosevelt Institute
  • EU: Thomas Wieser, Bruegel Non-Resident fellow and former President of the Euro Working Group and the European Financial Committee
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Upcoming Event

Jan
25
17:00

Where is Biden's climate policy?

A year after his inauguration, what has President Biden really achieved on climate?

Speakers: Samantha Gross, Dan Lashof, Michael Mehling and Simone Tagliapietra Topic: Green economy Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Upcoming Event

Feb
2
14:00

Towards an inventory of corporate subsidies by China, the EU and the USA

In this event panelists will discuss the latest report of the 28th Global Trade Alert Report, 'Subsidies and market access: Towards an inventory of corporate subsidies by China, the European Union and the United States'.

Speakers: Simon J. Evenett, Denis Redonnet, André Sapir and Reinhilde Veugelers Topic: Global economy and trade Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Opinion

How an open climate club can generate carbon dividends for the poor

The German-led G7 can accelerate decarbonisation while tackling climate justice.

By: Andreas Goldthau and Simone Tagliapietra Topic: Green economy Date: January 11, 2022
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Opinion

What the EU climate package has to overcome in 2022

An overview of the EU climate package to be negotiated in 2022.

By: Simone Tagliapietra Topic: Green economy Date: January 4, 2022
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External Publication

Sustainability transition and the European Green Deal: A macro-dynamic perspective

Report of the results of work carried out at ETC/WMGE on Green economy transition: Macroeconomic analytical framework in 2020 and 2021.

By: Nicolò Barbieri, Ilaria Beretta, Valeria Costantini, Alessio D’Amato, Marianna Gilli, Giovanni Marin, Massimiliano Mazzanti, Simone Tagliapietra, Roberto Zoboli,, Mariangela Zoli, Susanna Paleari, Andrea M. Bassi and Stefan Ulrich Speck Topic: Green economy Date: January 3, 2022
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Working Paper

Timely measurement of real effective exchange rates

This paper contributes to the measurement of monthly consumer price index-based real effective exchange rates with two main novelties.

By: Zsolt Darvas Topic: Global economy and trade Date: December 23, 2021
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Blog Post

European governanceInclusive growth

12 Charts for 21

A selection of charts from Bruegel’s weekly newsletter, analysis of the year and what it meant for the economy in Europe and the world.

By: Hèctor Badenes, Henry Naylor, Giuseppe Porcaro and Yuyun Zhan Topic: Banking and capital markets, Digital economy and innovation, European governance, Global economy and trade, Green economy, Inclusive growth, Macroeconomic policy Date: December 21, 2021
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Blog Post

How serious is Europe’s natural gas storage shortfall?

Europe may not have enough natural gas in storage for the coming winter; close monitoring of the situation will be essential.

By: Georg Zachmann, Ben McWilliams and Giovanni Sgaravatti Topic: Green economy Date: December 21, 2021
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Past Event

Past Event

The EU’s new foreign investment screening mechanism

At this members-only event we will discuss the European Commission's new foreign investment screening mechanism

Speakers: Damien Levie and Nicolas Véron Topic: Banking and capital markets Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: December 17, 2021
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External Publication

L’Union européenne et les États-Unis, un an après

Après une année troublée par Kaboul et AUKUS, qu'avons-nous retenu de l'an I de la présidence Biden ? Maria Demertzis revient sur les évènements marquants de l'année 2021 pour la relation entre les États-Unis et l'Union européenne.

By: Maria Demertzis Topic: Global economy and trade Date: December 8, 2021
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Blog Post

European governance

The Global Gateway: a real step towards a stronger Europe in the world?

Disappointment at the lack of fresh cash from European Union global connectivity strategy is short-sighted: Europe supports global development more than any other country in the world. Using existing funds more strategically is the right priority for now.

By: Simone Tagliapietra Topic: European governance, Global economy and trade Date: December 7, 2021
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External Publication

Europe's path to net-zero

Fostering the industrial component of the European Green Deal: key principles and policy options.

By: Simone Tagliapietra and Reinhilde Veugelers Topic: Green economy Date: December 3, 2021
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