Speakers
Nauro Campos
Professor of Economics, Brunel University London and Research Professor at ETH-Zürich
Nicholas Crafts
Professor of Economics and Economic History at the University of Warwick and CEPR
Paul De Grauwe
John Paulson Chair in European Political Economy, London School of Economics, and former member of the Belgian parliament
Discussant
Erik Berglöf
Director, Institute of Global Affairs at the London School of Economics and CEPR Research Fellow
Venue
UCL, Gower Street, London WC1E 6BT
Meeting Room: Lecture Theatre 2, Cruciform Building
Monday 18 June 2018
Registration: 13h00-13h30
Presentations and Discussion: 13h30-15h00
One can no longer be sure whether Europe is just at a crossroads or on the brink. The multi-faceted economic crisis has deepened. It has also become a widespread political crisis. There is little disagreement that the European integration project needs to be reformed and that this needs to be done now, before the next economic downturn. The costs of doing nothing are large and rising, and we must think of innovative ways to make reform happen in a democratic, efficient, and sustainable manner.
Economists have debated what to do and how but have been mostly silent on who and when. Which institutions and agencies are needed? In our view, not even asking the question, “Which institutions should be redesigned or even created from scratch to carry out reform in Europe?”, goes a long way towards explaining why reforms have not been implemented.
This eBook makes the case that addressing such institutional questions is of fundamental importance for the future of European integration.
The individual chapters distil the lessons from the Bretton Woods institutional framework and from the globalisation wave that followed it. The overarching questions that motivate the eBook are: Is a European Monetary Fund (EMF) sufficient? Are other institutions needed? How should these other institutions be designed and implemented? And how should they fit into the existing institutional framework?
The eBook is organised into five parts. The first examines the Bretton Woods system and European integration. The second looks at prominent European institutions (the European Parliament, the Structural Funds, and the ESM). The third focuses on financial institutions and on labour mobility. The fourth discusses key institutional aspects of monetary union. The fifth and final part highlights strategies for, and obstacles to, redesigning European institutions.
SPEAKERS
Nauro F. Campos is Professor of Economics at Brunel University London and Research Professor at ETH-Zürich. His main fields of interest are political economy and European integration. He taught previously at CERGE-EI (Prague) and at the University of Newcastle, Paris 1 Sorbonne and Warwick. He was a Fulbright Fellow at Johns Hopkins University (Baltimore), a Robert McNamara Fellow at The World Bank, and a CBS Fellow at Oxford University. He is a Research Fellow at IZA-Bonn, a Professorial Fellow at UNU-MERIT (Maastricht University), a member of the Scientific Advisory Board of the (Central) Bank of Finland, and a Senior Fellow of the ESRC Peer Review College. He was a visiting scholar at the IMF, World Bank, European Commission, University of Michigan, ETH, USC, Bonn, UCL and Stockholm. From 2009 to 2014, he was seconded as Senior Economic Advisor/SRF to the Chief Economist of the UK’s Department for International Development. He received his Ph.D. from the University of Southern California (Los Angeles) in 1997, where he was lucky enough to learn about institutions from Jeff Nugent and Jim Robinson and (more than) happy to be Dick Easterlin’s RA. He is the chief editor of Comparative Economic Studies.
Nicholas Crafts is Professor of Economics and Economic History at the University of Warwick, a post he has held since 2006. He is also Director of the ESRC Research Centre on Competitive Advantage in the Global Economy (CAGE), at Warwick. His main fields of interest are long-run economic growth, British economic performance and policy in the 20th century, the industrial revolution, and the historical geography of industrial location. He has published many papers in academic journals and has also contributed to research by the International Monetary Fund and the World Bank.
Paul De Grauwe is John Paulson Chair in European Political Economy at the London School of Economics, having been Professor at the University of Leuven, Belgium and a Visiting Scholar at the IMF, the Board of Governors of the Federal Reserve, and the Bank of Japan. He was a member of the Belgian parliament from 1991 to 2003. His research interests are international monetary relations, monetary integration, foreign-exchange markets, and open-economy macroeconomics. His books include The Economics of Monetary Union, Oxford, International Money: Post-war Trends and Theories, Oxford, The exchange rate in a behavioural finance framework, Princeton and Lectures on Behavioral Macroeconomics, Princeton. He obtained his Ph.D from the Johns Hopkins University in 1974 and honoris causae of the University of Sankt Gallen (Switzerland), of the University of Turku (Finland), the University of Genoa, the University of Valencia and Maastricht University. He is a CEPR Research Fellow.
DISCUSSANT
Erik Berglöf became the inaugural Director of the Institute of Global Affairs (IGA) on 1 February 2015. He joined the School as a Professor in Practice in the Department of Economics. Previously he was the Chief Economist and Special Adviser to the President of the European Bank for Reconstruction and Development (EBRD). The Office of the Chief Economist provides the economic and political analysis that underpins the EBRD's investment decisions and guides the Bank’s strategic planning. Prior to joining the EBRD in 2006, Erik Berglof held the position of Director of the Stockholm Institute of Transition Economics (SITE) and Professor at the Stockholm School of Economics and a Research Fellow at the Brookings Institution in Washington, D.C. He has also been Assistant Professor at the Université Libre de Bruxelles and held visiting positions at Harvard, Stanford and the Massachusetts Institute of Technology (MIT).
Currently, Berglof is Treasurer of the International Economic Association, Member of the Governing Board of the Institute for New Economic Thinking in New York, Board Member and Research Fellow of the European Corporate Governance Institute in Brussels, and Executive Board Member of the New Economic School in Moscow. He is a Research Fellow and former Programme Director at the Centre for Economic Policy Research in London. He has written extensively on financial contracting and corporate governance. In particular, he has applied theoretical insights to the study of differences between financial systems, and specific ownership and control arrangements. More recently, his work has focused on bankruptcy.
He has also been involved in several capacity-building initiatives in transition countries, including as Director of the Center for Economics and Financial Research (CEFIR) in Moscow and the Baltic International Center for Economic Policy Studies (BICEPS) in Riga. He has served as Special Adviser to the Prime Minister of Sweden and on several government commissions and EU-related panels. In addition, he has been a consultant to the World Bank and the IMF. In 2013 he was awarded the Leontief Medal for his contributions to economic reforms.
REGISTRATION
Spaces are limited, therefore we strongly encourage you to register as early as possible.
