Nicholas Bloom, Renata Lemos, Raffaella Sadun, John Van Reenen, Sunday, December 7, 2014 - 00:00

John Helliwell, Haifang Huang, Shawn Grover, Shun Wang, Sunday, November 30, 2014 - 00:00

Jesús Fernández-Villaverde, Luis Garicano, Tano Santos, Tuesday, April 30, 2013 - 00:00

By the end of the 1990s, under the incentive of Eurozone entry, most peripheral European countries were busy undertaking structural reforms and putting their fiscal houses in order. This column argues that the arrival of the euro, and the subsequent interest-rate convergence, loosened a tide of cheap money that reversed the incentives for further reforms. As a result, by the end of the euro’s first decade, the institutions and governance in the Eurozone periphery were in worse shape than they were at the start of the decade.

Nicklas Garemo, Jan Mischke, Saturday, March 30, 2013 - 00:00

Investment in infrastructure can bring growth and social benefits. This column highlights the infrastructure opportunities open to depressed economies, stressing that the main obstacles are governance-related. To bring opportunities to life will require an overhaul of infrastructure governance – a root cause of infrastructure projects’ poor productivity.

Andrea Boltho, Wendy Carlin, Saturday, March 31, 2012 - 00:00

Divergent behaviour from Eurozone countries that have very different economic, social, and political structures is threatening the existence of the single currency. This column argues that the Eurozone is a fragile bureaucratic creation that has hardly ever raised much popular enthusiasm anywhere. If behaviour across the area remains as asymmetric as it has been over the last decade or so, the project could run into even stronger headwinds in the long run.

Daniel Gros, Wednesday, November 9, 2011 - 00:00

As Italy’s debt crisis enters the danger zone the question arises: Can Italy ever overcome its decade-old growth slump? This column shows that Italy’s growth fundamentals are all in pretty good shape, except one - good governance. Worldwide Governance Indicators show a dramatic worsening during the Berlusconi governments especially when it comes to the rule of law, government effectiveness, and control of corruption. Progress on improving these might in the end be more important for growth than the reforms the EU demands.

Daniel Gros, Thursday, June 17, 2010 - 00:00

Many analysts of the Eurozone crisis take members’ asymmetric competitiveness for granted and underplay the role of the global crisis. This essay argues that some of the trends which now are widely assumed to be the result of the euro are actually natural consequences of two unique events: German unification and the mid-decade global credit boom.

Jean Pisani-Ferry, Thursday, June 17, 2010 - 00:00

The crisis has revealed deep flaws in the Eurozone’s governance regime. This essay argues that EU leaders should address fundamental questions about the operational principles upon which the euro is based. Key choices for Eurozone leaders are the nature of the economic policy framework, the optimal degree of decentralisation, and the identification of reforms that will ensure the policy regime can deal with all eventualities.

Milan Brahmbhatt, Otaviano Canuto, Tuesday, March 2, 2010 - 00:00

How important are primary commodities for economic development? This column suggests that primary commodity prices are likely to ease over the next five years. Nevertheless, commodity revenues will remain high, raising challenges that, if not addressed, can harm long-run development. With good governance, however, such revenues can also be a valuable resource to help accelerate overall development.

Paul Collier, Lisa Chauvet, Saturday, November 21, 2009 - 00:00

There is some evidence that democracies enjoy better economic growth. How do elections, a core component of democracy, impact economic policy? This says that free and fair elections in developing countries improve economic policy by disciplining governments. But infrequent or uncompetitive elections may actually make things worse.

Joshua Aizenman, Reuven Glick, Friday, January 16, 2009 - 00:00

This column provides evidence that there is great deal of difference between the governance standards of the economies in which sovereign wealth funds have been established and the standards of the industrial economies in which they are seeking to invest. It also discusses how the expansion of asset holdings of sovereign wealth funds may reduce official reserve holdings.

Harald Hau, Johannes Steinbrecher, Marcel Thum, Monday, January 12, 2009 - 00:00

This column shows that German banks with more competent supervisory board members suffered smaller losses in the subprime crisis. Improving bank governance is therefore desirable – from both the public and private perspectives – and may be more robust than other regulatory tools.

Petra Geraats, Francesco Giavazzi, Charles Wyplosz, Thursday, February 7, 2008 - 00:00

Central Banking works by guiding the expectations of savers, investors, consumers and markets – not an easy job. This column, based on the latest report in CEPR’s series ‘Monitoring the European Central Bank’, argues that the job would be easier if the ECB published its anticipated interest rate path and voting records.

CEPR Policy Research