This report analyses existing competitive research funding mechanisms and their effectiveness, taking into account a variety of contextual factors. It focuses on the efficiency of funding allocation mechanisms relative to their objectives. The main elements of this project have been an extensive...

Banking has grown too much in Europe - in three senses. First, the European banking system has reached a size where its contribution to real economic growth is likely to be nil or negative. Second, the European financial structure is biased towards banks (rather than securities markets), which...