A Primer on Developing European Public Goods
|
|
In this issue:
Annual Conference Presentations, Video and Photographs Now Available
Europe’s Competitiveness and the Rise of China was examined at EconPol Europe’s annual conference on the 7 and 8 November 2019, with a keynote speech by Carlos San Basilio (Secretary General of the Treasury and International Financing, Spanish Ministry of Economy and Business) on the deepening of the EMU. Watch the video of the speech here.
The EU and China was the focus of Daniel Gros’s keynote (Director, CEPS & EconPol Europe), which can be seen here. A panel discussion chaired by Maithreyi Seetharaman (FORTUNE) and including Koen Jonkers (Deputy Head, Joint Research Centre‘s Knowledge for Finance, Innovation and Growth Unit, European Commission), Sherry Madera (Global Head of Industry and Government Affairs, Refinitiv), Luisa Santos (Director of International Relations, Business Europe) and Xu Zhengbing (Counsellor for Economic and Commercial Affairs, Chinese Mission to the EU) is available to view here.
You can see photographs of both days here. Presentations are available to download on the conference webpage.
|
|
A Primer on Developing European Public Goods
The EU has mostly been defined as a provider of economic integration amongst participating member states. Its cornerstones have been the removal of obstacles to cross-border flows of goods, services, labour and capital, and the development of common policies that ensure the smooth functioning of an integrated market, be it for trade, competition, infrastructures or consumer protection, to name the main ones only. Even the euro was initially conceived as a natural complement to the internal market and as a trigger for further integration. This policy report from Clemens Fuest (ifo Institute, LMU, EconPol) and Jean Pisani-Ferry (EUI, Bruegel) discusses the case for enhanced provision of European public goods and makes a number of proposals for concrete steps and initiatives.
EconPol Policy Report 16
|
|
What Drives Chinese Overseas M&A Investment? Evidence from Micro Data
In recent years Chinese foreign acquisitions have increased significantly, with Chinese investors are more likely to acquire larger firms, firms with lower levels of profitability and higher debt. This EconPol working paper from Clemens Fuest (EconPol Europe, ifo Institute, LMU), Felix Hugger (LMU), Samina Sultan (LMU) and Jing Xing (Shanghai Jiao Tong University) shows investors don’t seem to pay more for target firms with given characteristics, questioning the view that they are subsidized to outbid other investors. Policy initiatives like the Belt and Road Initiative and Made in China 2025 influence state-owned but not private Chinese investors. After acquisition by a Chinese company, targets exhibit lower growth in capital productivity, but a higher growth of employee compensation.
EconPol Working Paper 33
|
|
The Social Costs of Side Trading
This working paper examines resource allocation under private information when the planner cannot prevent bilateral side trading between consumers and firms. Adverse selection and side trading severely restrict feasible trades: each marginal quantity must be fairly priced given the consumer types who purchase it. Authors Andrea Attar, Thomas Mariotti and François Salanié (EconPol Europe and Toulouse School of Economics) discuss the relevance of the results for insurance and financial markets.
EconPol Working Paper 34
|
|
EconPol Europe is a cross-border voice for research in Europe, providing research-based contributions aimed at promoting growth, prosperity and social cohesion in Europe and, in particular, the European and Monetary Union. Our mission is to contribute our research findings to help solve the pressing economic and fiscal policy issues facing the European Union, and to anchor more deeply the idea of a united Europe within member states.
Our joint interdisciplinary research covers:
• sustainable growth and best practice,
• reform of EU policies and the EU budget,
• capital markets and the regulation of the financial sector and
• governance and macroeconomic policy in the European Monetary Union.
If you would like further information about EconPol Europe, please contact Juliet Shaw at shaw@econpol.eu
|
|
Register for the EconPol Newsletter. Stay informed.
Receive all the latest information on EconPol publications and events in our newsletter.
To subscribe, click here.
If you do not wish to receive the EconPol newsletter, please click here to unsubscribe.
|
|
Data protection
We would like to inform you that we have updated our data protection guidelines in compliance with the EU’s General Data Protection Regulation (GDPR) of 25 May 2018. Our updated data protection regulations can be accessed online here. We have always treated your data confidentially in the past, only using it for the purpose that you expressly consented to. We would like to continue to send you information on EconPol’s activities in the future. Your personal data (email address and, in some cases, your first name and surname) are only used for the purpose specified above. We do not share your data with third parties under any circumstances.
If you wish to continue receiving information from us, then you do not need to take any further action. Should you wish to restrict or deny us the right to use your personal data in the future, please click here to unsubscribe from our newsletter. If you choose to unsubscribe, all of the data that we collected when you subscribed to the newsletter will be lost. You can unsubscribe to the newsletter at any time by clicking on the link above. Our warmest thanks for your support and interest in EconPol.
|
|
|
|
|