The negative impacts of deglobalisation
Globalisation has been a dominant feature of the socio-economic developments of recent decades. Now, it has been showing signs of de-escalation.
For some time now, the view that the unfettered ...
Articles
Financial crisis showed why banks must be well regulated
Banks play a key role and are inextricably linked to the outlook of the economy, mainly through supporting growth by providing financing to businesses and individuals.
However, as demonstrated during ...
Socio-economic inequalities between countries
The award of this year’s Nobel Prize in economics to Acemoglu, Johnson and Robinson highlights a fundamental aspect of the global economy, notably inequality between countries. The three scientists ...
What does Cyprus’ Moody’s upgrade mean?
Cyprus’ credit rating was recently upgraded from Baa2 to A3 by Moody’s. The double upgrade reflects, firstly, the improvement in the country’s fiscal indicators. Public debt has fallen ...
Trump’s policies will have short and long-term economic effects
The election, for the second time, of Donald Trump in the US signals important geopolitical changes and is expected to impact the global economy decisively.
Currently, the US economy presents ...
The pension framework is in need of reform
A large number of countries are facing increasing problems with pension sustainability and adequacy. To address this challenge, some European countries have adopted a three-pillar framework, which is based on: ...
Is Germany the sick man of the EU?
In a previous article, we referred to the economic challenges faced by the EU. Some analysts and reputable media express the view that Germany is currently the “sick man of ...
Changing economic policy in China could have decisive global impact
At present, global interest appears to be focused on geopolitical tensions in Ukraine and the Middle East and the evolution of interest rates in the US and eurozone, as well ...
The EU at a crossroads and the Draghi report
The EU is currently undergoing a critical period, mainly due to economic stagnation, lagging behind the US and China in the field of technology and insufficient progress in the battle ...
Big opportunities ahead for Serbia economy, but also obstacles
Although Serbs have existed as a distinct ethnicity for centuries, contemporary Serbia is the result of the breakup of socialist Yugoslavia and subsequent wars.
Yugoslavia was formed after the end ...
Cyprus needs public investment system overhaul
The role of the state in the field of investments is becoming increasingly important, as, over the coming decades, additional funds will be required for the purposes of: (a) tackling ...
A brief history of economic theory
Economic theory has its roots in antiquity. As early as the 18th century BC, the Babylonian King Hammurabi’s Code includes references to property rights, contracts, credit and economic justice.
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US-China rivalry and the rise of India
In recent years, the Indian economy has been growing rapidly, while also gaining ground amid rising tensions between China and the US, as well as the EU.
The underlying circumstances ...
Cyprus economy facing challenges despite positive assessments
The evaluations of international organisations, most recently the International Monetary Fund (IMF) and Fitch rating agency, confirm the satisfactory performance of the Cypriot economy. The growth rate reached 2.5 per cent ...
The economic gap between the EU and the US is widening
By Andreas Charalambous and Omiros Pissarides
The US and the EU face common challenges, including escalating geopolitical turmoil, climate change, digital transition and taming inflation, while, at the same time, ...
European Central Bank: inflation and interest rate developments
Following successive interest rate hikes and the policy of gradual quantitative easing in the developed economies over the last two years, emerging macroeconomic conditions appear to be conducive for a ...
EU Recovery and Resilience Plans – an initial implementation assessment
By Andreas Charalambous and Omiros Pissarides
The EU has evolved relatively slowly and gradually over time, from a trade agreement between a small number of states in the 1950s, to ...
Egypt’s economy and how it could impact the EU
Egypt has traditionally attracted significant interest, due to its distinctive historical and cultural weight, the sheer size of the country’s area and population, its geopolitical location and its control ...
Resistance to reforms in EU must be dealt with
The main challenges currently facing the EU are sluggish growth, low levels of investment, slow adaptation of technology, tight labour markets, as well as over-reliance on conventional forms of energy ...
Defence budgets and socioeconomic implications
In recent decades, a number of factors have contributed to a containment in defence spending, including: (a) the end of the cold war which, unlike prior conflicts, was accomplished peacefully, (...
Socioeconomic implications of increased defence spending
By Andreas Charalambous and Omiros Pissarides
In recent decades, a number of factors have contributed to a containment in defence spending, including: (a) the end of the cold war which, ...
Proposals to reform the government budgetary framework
By Andreas Charalambous and Omiros Pissarides
Cyprus’ performance in public finances is considered satisfactory, as reflected, among others, in the favourable evaluations of international organizations and rating agencies. As a ...
The importance of independent fiscal councils
By Andreas Charalambous and Omiros Pissarides
In most developed societies, we observe the establishment of institutions that aim at the wider social benefit, through the technocratic assessment of fiscal policies.
...
Implications of Argentina’s dollarisation experiment
By Andreas Charalambous and Omiros Pissarides
The calendar marked December 10, 2023 when, having just won the election based on an extreme “liberal” agenda, the economist Javier Milei entered the office of ...