The organisation of business activities into global value chains was a defining component of the significant advancements in globalisation witnessed in the three decades leading up to the Great Recession. In the years that followed the speed of global trade integration slowed down, and the...

The Russian invasion of Ukraine has triggered a humanitarian, economic, financial and political crisis that will reverberate across Europe. In this Policy Note we analyse the short- and medium-term implications of the conflict. We find that the most severe economic and financial impact will be...

Wie sollte die Wirtschaftspolitik im Lichte der Covid-19-Krise, dem Krieg in der Ukraine sowie den laufenden Sanktionen gegen Russland neben weiteren strukturellen Herausforderungen in den kommenden Jahren ausgerichtet werden? Schon vor Ausbruch der Covid-19-Krise gab es einen Paradigmenwechsel...

Russia's invasion of Ukraine has caused human suffering, the destruction of infrastructure and environmental damage on a huge scale. The Ukrainian government has already started to prepare for reconstruction, and presented its National Recovery Plan in July 2022. The plan has many strengths,...

Many governments have started issuing 'green' bonds tied to expenditures on projects with environmental objectives such as climate change mitigation. While well-intentioned, issuance of a green bond by an investment-grade sovereign has no environmental impact, leaves funding costs unchanged,...

To benefit from the newly established EU Recovery and Resilience Facility (RRF), the Visegrád countries - Czechia, Slovakia, Hungary, and Poland - have submitted their national recovery plans. The Czech and Slovak plans have already been approved by the EU, paving the way for the up-front...

Finding common ground across EU member states in responding to China's increasingly prominent position in the global economy has thus far proven a challenge. As the EU tries to find a 'third way' for dealing with its most important trading partners amid heightened US-China tensions, selected...

The organisation of business activities into global value chains was a defining component of the significant advancements in globalisation witnessed in the three decades leading up to the Great Recession. In the years that followed the speed of global trade integration slowed down, and the...

It remains unclear whether or not Russia will actually invade Ukraine, and if it does so, what form this invasion will take. In this note, we outline two broad scenarios: targeted strikes by Russia in Ukraine accompanied by further non-military destabilisation efforts, or a full invasion, and we...

Russia's invasion of Ukraine has caused human suffering, the destruction of infrastructure and environmental damage on a huge scale. The Ukrainian government has already started to prepare for reconstruction, and presented its National Recovery Plan in July 2022. The plan has many strengths,...