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Economy

Assigning responsibilities across levels of government - Trends, challenges and guidelines for policy-makers

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Publication date: 
Thursday, September 27, 2018
Abstract in English: 
The past decades have seen an undeniable trend towards decentralisation and greater diversity of multilevel governance arrangements around the world. Decentralisation outcomes depend on the way decentralisation is designed and implemented. A key issue for the effectiveness of decentralisation is linked to the way responsibilities are assigned across levels of government. The literature on fiscal federalism has provided some general guidelines that provide a point of departure for thinking about the assignment of responsibilities. However, when looking at country practices, the difference between theory and country experience appears to be significant. This paper reviews the trends, challenges and good practices in the way responsibilities are distributed across levels of government. It concludes with a set of guidelines for policy-makers, to better assign responsibilities across levels of government for more effective decentralisation.
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67
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The Future of Global Trade IN FOCUS: Between Multilateralism and Regionalism

Date of Editorial Board meeting: 
Publication date: 
Friday, October 27, 2017
Abstract in English: 


This paper briefly describes how international trade has been transformed in recent years and what has determined its increasing politicisation. It argues that the two main pillars of the global trading system—international trade regulation and the dispute settlement mechanism—are being put under strain due to various developments.

The whole system is being challenged by opposing tendencies: on the one hand, the multiplication of global risks and opportunities demands common action and multilateral rule-making; on the other, we are witnessing increasing fragmentation and regionalisation. The realistic objective that can now be set for the future development of world trade is the preservation of as much as possible of the present system and its improvement in specific areas.
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12
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The Future of Work: Robots Cooking Free Lunches?

Date of Editorial Board meeting: 
Publication date: 
Wednesday, July 11, 2018
Abstract in English: 
The rapid technological progress in automation, robotisation and artificial intelligence is raising fears, but also hopes, that in the future the nature of work will change significantly. There will be changes in what we do, how we form workplace relations, how we find work and the role of work in a society. Some believe that these changes will be for the better: we will need to work less and thus will have more free time. Others think that the changes will be for the worse: there will be fewer ways to earn a living. The central question of this paper is this: will adages such as ‘By the sweat of your brow you will eat your food’ and ‘No bees, no honey, no work, no money’ become obsolete? Will work disappear and with it the societal relations and inequalities that result from differing success in work? If this is going to happen, what policy options do we have to address the issue?
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68
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Another lost decade? Building a skills system for the economy of the 2030s

Date of Editorial Board meeting: 
Publication date: 
Wednesday, July 12, 2017
Abstract in English: 
The UK economy is set to undergo significant change in the coming years. The impact of rapidly advancing technology, an ageing population and exiting the EU will leave our economy looking very different by 2030. Having an effectively functioning adult skills system will be crucial if we are to manage the impact of these trends, to shape them and to turn them to our advantage. However, there is serious cause for concern that our adult skills system is not fit for purpose today, let alone fit to face the challenges ahead. In this report, we set out an approach to adult skills that would better meet the needs of learners, employers and the economy in the future.
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94
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Building Britain's Future? The construction workforce after Brexit

Date of Editorial Board meeting: 
Publication date: 
Thursday, November 30, 2017
Abstract in English: 
The construction industry is of vital strategic importance to the UK. A healthy construction industry will be essential if we are to build the homes, commercial property and infrastructure that our economy and our country needs. Yet the construction industry faces a grave threat from Brexit. We have identified three significant challenges facing the construction industry: Productivity growth in construction has been stagnant, Construction faces severe and growing skills shortages, Construction has become increasingly reliant on EU migration.
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53
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The Future of the United States and Europe: An Irreplaceable Partnership

Date of Editorial Board meeting: 
Publication date: 
Wednesday, April 11, 2018
Abstract in English: 
The partnership between the United States and Europe has been an anchor of the world’s economic, political and security order for more than seven decades, but we should not take it for granted. The transatlantic relationship faces many dangers. However, the issues that bring the two sides together ultimately carry much greater weight than those that might divide them.The US and the EU have notably different perceptions and interests, the navigation of which requires nuanced diplomacy. Although each side brings different ideas and experiences to the table, numerous areas of actual and potential collaboration can be identified. The rules-based international order benefits both the US and the EU, and it urgently needs their collaborative support.
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51
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Tomorrow’s Silk Road: Assessing an EU-China Free Trade Agreement – 2nd edition

Date of Editorial Board meeting: 
Publication date: 
Monday, June 25, 2018
Abstract in English: 
In developing its international trade strategy since 2006, the EU has placed a strong emphasis on concluding Free Trade Agreements (FTAs) with dynamic East Asian economies. Until very recently, however, no explicit mention has been made of China – the region’s largest and most dynamic economy – as a possible candidate for an FTA with the EU. This oversight becomes even more glaring if one considers the magnitude of the economic intercourse that already exists today between these two trading partners. China is the logical sequel in the Union’s trade strategy for East Asia. This study attempts to provide a solid analytical basis for negotiations on an EU-China Free Trade Agreement (formally, Free Trade Area treaty). The first official suggestion for such an FTA, made by Chinese President Xi Jin Ping in the spring of 2014, has recently been considered, cautiously and under various conditions, by the EU as well.
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333
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Can India Grow? Challenges, Opportunities, and the Way Forward

Date of Editorial Board meeting: 
Publication date: 
Wednesday, November 16, 2016
Abstract in English: 
Despite India’s impressive economic growth rates in the mid-2000s, the long-term magnitude and sustainability of this progress remains uncertain. India’s rapid population expansion requires that the country sustain long-term growth to enable job creation over time. For the country to achieve this enduring trajectory, India must correctly identify the economic fundamentals behind such growth. This should include both short-term, cyclical barriers and long-term, structural impediments that hold it back. Articulating a set of policy priorities and guiding principles that address these issues is the best way forward for India’s future economic prospects.
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152
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Aftermath of the Arab Spring in North Africa

Date of Editorial Board meeting: 
Publication date: 
Monday, October 31, 2016
Abstract in English: 
At the outset of the political uprisings that began in North Africa in 2010, the four countries of Algeria, Libya, Morocco, and Tunisia faced similar economic and political challenges. Over the past almost six years, the countries have adopted different approaches to address these problems, however the overall economic picture today is grim amid varied political environments. In “Aftermath of the Arab Spring in North Africa,” authors Mohsin Khan and Karim Mezran examine whether these four North African countries have been successful in meetings the demands of their populations as expressed in the 2010-11 uprisings and what challenges remain for them in the future.
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16
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Post-Vienna: Prospects for Iran's Oil Production and Exports

Date of Editorial Board meeting: 
Publication date: 
Friday, January 6, 2017
Abstract in English: 
Since the 1979 revolution, recurring rounds of sanctions and eight years of war with Iraq have hammered Iran’s oil production and export capacity. Despite boasting the fourth largest proven oil reserves in the world, Iran’s oil production and exports languished at 4 million barrels per day (mb/d) and 2.5 mb/d, respectively, in 2011.The entrance of the European Union and United States into an even more stringent sanctions regime in 2012 further crippled an already hamstrung industry. Iran’s crude exports dropped 40 percent to 1.5 mb/d in 2012 and sunk to an average of just 1 mb/d by 2014 as foreign markets closed, international investment evaporated, and supply chains withered.Now, as the Joint Comprehensive Plan of Action nuclear deal ushers Iran back into international energy markets, its oil and gas industry is poised to reach its full potential. The impacts promise to be profound and wide reaching as oil sales provided 80 percent of Iran’s export earnings and 60 percent of its state revenues in 2013. With Iranian oil production and exports already rising following the nuclear deal, this paper examines scenarios for Iran’s full reentry into international oil and gas markets.
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11
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