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Globalisation

The new dynamics of financial globalisation

Date of Editorial Board meeting: 
Publication date: 
Tuesday, August 29, 2017
Abstract in English: 
A decade after the beginning of the global financial crisis, the fallout continues to reshape the financial system. Gross cross-border capital flows are 65 percent lower in absolute terms than they were in 2007, representing a sharp break from the past. Roughly half of the decline is due to large European and US banks retrenching from foreign markets. But these developments do not signal an end to financial globalization—although there will be risks. Rather, we see a healthy correction from pre-crisis excesses, and a return to a potentially more stable and risk-sensitive era of financial globalization. Lessons have been learned. Moreover, we are beginning to see global finance broaden to a larger number of countries and players, many of them developing economies that are becoming more financially connected. Looking forward, we see that global finance is set for another major disruption. The increasing presence of new financial technologies, including digital platforms for financial transactions, blockchain, and machine learning, have the potential to reinforce financial globalization by making it faster and cheaper to transact across borders—but may also pose new challenges.
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108
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Opportunity for all: promoting growth and inclusiveness in the Middle-East and North Africa

Date of Editorial Board meeting: 
Publication date: 
Thursday, July 12, 2018
Abstract in English: 
The inclusive growth and job creation agenda has moved to the forefront of national dialogues in Middle-East and North African countries in recent years. Yet much work remains as countries move toward implementation of pro-inclusive growth policies that will be critical to the economic success of the region.
This paper seeks to pave the way for further operationalizing the inclusive growth agenda by exploring the key issues the MENA region faces in its efforts to promote inclusive growth. Given that many reforms are already underway in the region and the intention of the paper is to chart a future course for policies to enhance inclusive growth, the paper intentionally emphasizes the key areas where faster and deeper progress is needed. It also underscores the need for policies to be tailored to country-specific circumstances since “one size” cannot fit all, especially in a region as diverse as MENA.
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123
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World Trade Report 2017

Date of Editorial Board meeting: 
Publication date: 
Sunday, January 15, 2017
Abstract in English: 
The World Trade Report is an annual publication that aims to deepen understanding about trends in trade, trade policy issues and the multilateral trading system.
The 2017 World Trade Report examines how technology and trade affect employment and wages. It analyses the challenges for workers and firms in adjusting to changes in labour markets, and how governments can facilitate such adjustment to increase the positive impact of open trade and technological progress.
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190
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Re-energising Europe

Date of Editorial Board meeting: 
Publication date: 
Wednesday, November 15, 2017
Abstract in English: 
As the EU emerges from this decade of crisis, it is clear that an open and frank debate within and between member states – on the issues that concern them most and spark the deepest divisions – is essential.
It enables the development of responses that reflect the interests of all EU countries. It can also help to restore a sense among the elite and the public that belonging to the Union is still good for them and their countries – and is equally beneficial for all member states.
That is what the New Pact for Europe project has been all about: providing a platform for and fostering such debates, and exploring how the major challenges facing Europe are interconnected. It can also help to deliver solutions that will demonstrate that EU membership is still a win-win for everyone– not for the sake of the EU project itself, but for the sake of the citizens whom it exists to serve.
That process has led to the current report, which reflects the differences of perception, experience and current concerns to elaborate the key elements of an ambitious but realistic package deal. This comprehensive bargain - which covers the economic and social, migration, and security fields - could provide a basis to re-energise and galvanise support for the EU.
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Number of pages: 
120
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The Long View: How will the global economic order change by 2050 ?

Date of Editorial Board meeting: 
Publication date: 
Wednesday, February 15, 2017
Abstract in English: 
This report analyses the long-term evolution of the economic evolution in terms of GDP for 32 of the world's largest economies in the world, accounting for 85% of today's global GDP. It analyses the different challenges policymakers will have to cope with in those countries as well as the new business opportunities created by this shift in the global economic order.
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72
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European Space Programs and the Digital Challenge

Date of Editorial Board meeting: 
Publication date: 
Wednesday, November 15, 2017
Abstract in English: 
The progress made in space exploration and digital technology have long been dis-synchronized. This is no longer the case- space programs are now both an actor of the digital revolution, since most of the data are being communicated through satellites, and themselves revolutionized.
The point of this study is to understand the tremendous changes affecting this sector, through the inclusion of new technologies and new actors, and to outline a way for Europe to remain an independent and strong actor in the space exploration sector- which is key to remain a credible global power.
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138
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Gas in the European Energy Transition: Challenges and Opportunities

Title Original Language: 
Le gaz dans la Transition Energétique Européenne: Enjeux et Opportunités
Abstract Original Language: 
Les performances environnementales du gaz lui permettent de réduire rapidement et dès maintenant les émissions de CO2 du secteur électrique quand il remplace le charbon, deux fois plus émetteur. Sa flexibilité lui permet aussi de pallier l'intermittence du solaire et de l'éolien, facilitant ainsi le développement des ENRs. Il contribue de même à un approvisionnement électrique fiable et réduit les coûts d'équilibrage du système électrique. Il pourrait aussi être utile pour réduire les émissions des transports routiers et maritimes.
Le gaz a donc toute sa place dans le futur bouquet énergétique européen, a condition de décarboner encore son usage, d'augmenter l'intégration et la compétitivité du marché gazier européen et d'assurer la sécurité d'un approvisionnement qui dépendra de plus de plus des importations extra-européennes.
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Date of Editorial Board meeting: 
Publication date: 
Monday, January 15, 2018
Abstract in English: 
Thanks to its environmental performance, gas can help to quickly reduce the CO2 emissions of the electricity production when replacing the twice-as-emitting coal power. Its flexibility also help make up for the intermittence of the sun and wind powers, thus facilitating to the development of the renewable energy production. It similarly contributes to a reliable electricity supply and reduce the balancing cost of the electric system. It could also be used in the near future to reduce the emissions of the road and maritime transportation sectors.
In nutshell, gas could play a key role within the future European Energy Cluster, provided the further decarbonization of it usage, the increase in the integration and competitiveness of the European gas market, and the securing of its supply-which will increasingly depend on extra-European imports.
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90
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The Future of the Economic and Monetary Union

Date of Editorial Board meeting: 
Publication date: 
Friday, June 15, 2018
Abstract in English: 
While there is general agreement within the euro zone that further reform is needed, there is however disagreement as to which measures should be implemented. In a nutshell, member states disagree over the balance between risk sharing and risk reduction. Risk reduction proponents place the emphasis on crisis prevention, while those who emphasise risk sharing focus on crisis mitigation. This book represents a concerted effort by four prominent scholars from France, Germany, Italy and the Netherlands to summarise the discussion in those countries and analyse in which areas the member states may find common ground to press ahead with reforms. The authors have been asked to provide a background to how the euro has been perceived in their respective countries and identify which EMU reforms would be acceptable in the short- to medium-term perspective.
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90
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The Cost of Non-Europe, Revisited

Date of Editorial Board meeting: 
Publication date: 
Sunday, April 15, 2018
Abstract in English: 
In this paper we quantify the "Cost of Non-Europe", i.e. the trade-related welfare gains each country member has reaped from the European Union. Thirty years after the terminology of Non-Europe was used to give estimates of the gains from further integration, we use modern versions of the gravity model to estimate the trade creation implied by the EU, and apply those to counterfactual exercises where for instance the EU returns to a "normal'', shallow-type regional agreement, or reverts to WTO rules. Those scenarios are envisioned with or without the exit of the United Kingdom from the EU (Brexit) happening, which points to interesting cross-country differences and potential cascade effects in doing and undoing of trade agreements.
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50
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Global food production and prices to 2050

Date of Editorial Board meeting: 
Publication date: 
Wednesday, March 6, 2013
Abstract in English: 
This report uses three scenarios to investigate the possible response of world food prices, food production and trade to the projected increase in demand. This work builds on agrifood modelling in ABARES Food demand to 2050: Opportunities for Australian agriculture (Linehan et al. 2012a).
The uncertainties and dynamics surrounding factors such as climate change, international trade policy and biofuels policies add to the complexity of modelling global agrifood markets out to 2050. However, scenario analysis, which isolates each of these issues, allows for an assessment of indicative price and production responses over the projection period across different regions and agrifood commodities. A reference scenario is developed for this project using a set of assumptions drawn from the literature. The reference scenario serves as a starting point for the policy analysis and shows the sensitivity of the projections to changes in assumptions and parameter values.
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Number of pages: 
41
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