Jean Pisani-Ferry and Indhira Santos observe that the crisis and the national responses to it have started to reshape the global economy. But beyond the specifics of shock transmission, the crisis has also exposed that, in spite of regional integration and the emergence of new economic powers,...

Indhira Santos analyses the impact of the European Unionâ??s cohesion policy both in terms of economic efficiency and redistribution to needy areas of the EU. She illustrates with data the confusion created by the multiple objectives of current EU cohesion policy and by the political...