Most of the empirical studies dealing with international business cycles have disregarded the credibility issues that play an important role in the decision to join or not a monetary union. Most of empirical applications based on asymmetric shocks have failed to account for these aspects. In...

We examine two impacts of international emigration on the evolution of the institutions in the origin countries. The first impact concerns the influence of emigration per se (i.e. people who left the country can voice more or less from abroad). The second impact relates to the transfer of the...

This paper uses worldwide firm-level data to scrutinize the governance factors that favor gender diversity in leadership positions. Our results reveal that the gender of the dominant shareholder is key. The chief executive of firms with a female dominant shareholder has a significantly higher...

This paper investigates the evolution and determinants of manufactured exports and FDI in MED-11 countries over the period 1985-2009 as well as the prospects of their evolution under different scenarios pertaining to the evolution of the determinants. The econometric analysis confirmed the role...

Public procurement amounts to around 14% of European Union GDP and, given this size, could well represent an important tool to foster the green transition. However, green public procurement continues to be underutilised in Europe, as several barriers to its application persist. A new EU...

Joining the EU requires not only that candidate countries fulfil a certain number of conditions, but also that EU countries feel ready to welcome new members.

The 2022 United States Inflation Reduction Act (IRA) is a significant and welcome climate law. It also includes trade-distortive subsidies, including local-content requirements prohibited under World Trade Organisation rules - the first time the US has done this and a blow to the international...

The system of multilateral rules and institutions that constitutes the global economic governance regime trails the rapid transformation of the world economy and the rise of pressing global issues. It faces significant challenges such as the resurgence of economic nationalism. It needs to adapt...

The European Union was institutionally ill-prepared to manage the 2007-2008 financial crisis, with an inadequate architecture for resolving problems within the European single financial market. Throughout the period 2007-2009 the situation in the EU has been characterised by a lingering lack of...

After a thirty-year pause, discussions on the future of the international monetary system (IMS) have restarted. This is partly due to the fact that the IMS has facilitated, or at least not prevented, the economic and financial imbalances that led to the recent crisis. This paper argues that the...