Le blog du CEPII

Lifting the lid on the black box of informal trade in Africa

 Post, October 5, 2018
By Joachim Jarreau, Cristina Mitaritonna, Sami Bensassi
This post, already published on The Conversation, explains how official statistics do not reflect the reality of internal trade in Africa. Intra Africa trade seems low despite numerous regional trade agreements that have led to tariffs removal within the trading blocs. However, a large part of cross-border trade between African countries is informal.
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Banks Defy Gravity in Tax Havens

 Post, September 21, 2018
By Vincent Bouvatier, Gunther Capelle-Blancard, Anne-Laure Delatte
This post, already published in Voxeu, examines the contribution of EU banks to tax evasion. It presents the new finding that bank activity in tax havens is three times larger when using new country-by-country regulatory data than what is predicted by the gravity model, and that British and German banks are particularly present in tax havens.
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Carrier International: the beginning of the unraveling of globalization?

 Post, December 15, 2016
By Jean-Francois Boittin
Dec. 1st may well be remembered in the history books of the 22nd century as the beginning of the end of globalization. This is the day when the President-elect paraded his “victory” over the management of Carrier International, a unit of United Technologies that had announced the move of 2,000 some jobs to Mexico.
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Why denser areas are more productive

 Post, December 2, 2016
By Lionel Fontagné, Gianluca Santoni
A key driver of productivity is ease of resource allocation. This column uses firm-level data for France to show that misallocation has a spatial dimension: resource allocation and the associated effect on productivity are related not only to firms’ characteristics, but also to the environment in which they operate. Denser commuting zones seem to offer a better match between employers and employees, leading to more productive firms.
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In search of a liquid asset for European financial markets

 Post, July 15, 2016
By Francesco Molteni
European financial markets face a shortage of liquid assets. New regulations increase banks’ demand for liquid securities, mainly sovereign bonds, but the European fiscal rules constrain the supply of public debt. Further, the QE is draining bonds from the market. Some proposed forms of “Eurobonds” or new debt securities issued by European supranational organizations could solve this problem.
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COP21

The price of carbon: ways forward after COP-21

 Post, November 26, 2015
By Christian de Perthuis, Pierre-André Jouvet, Raphaël Trotignon
Because the climate is a common good, economists generally advocate the use of an international carbon price to internalize climate risk, to incorporate as many countries as possible into an agreement and to thwart “free-rider” strategies.
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COP21

Towards a Sustainable Financial System

 Post, November 26, 2015
By Armin Haas
It will be key for the global sustainability transition that the measures taken in the respective sustainability dimensions, i.e. the economic, the ecological, and the social dimension, complement and reinforce each other.
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COP21

How Could We Finance Low-Carbon Investments in Europe?

 Post, October 22, 2015
By Michel Aglietta, Etienne Espagne, Vincent Aussilloux, Baptiste Perrissin-Fabert
This year, Europe is confronted with a critical double challenge: addressing the climate change issue and pulling itself out of a persistent low growth trap. Today these two challenges are addressed separately. We propose to make private low-carbon assets eligible for the ECB asset purchase program.
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COP21

Climate Finance in the Context of Sustainable Development

 Post, October 22, 2015
By Ottmar Edenhofer, Jan Christoph Steckel, Michael Jakob
Novel ideas how to spend climate finance in a way that reduces emissions and at the same time promotes recipients’ immediate development objectives are required. In this short commentary, we propose to regard climate finance in the broader context of sustainable development.
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COP21

Why Finance Can Save the Planet

 Post, October 15, 2015
By Jean Pisani-Ferry
Most people hate finance, viewing it as the epitome of irresponsibility and greed. But, even after causing a once-in-a-century recession and unemployment for millions, finance looks indispensable for preventing an even worse catastrophe: climate change.
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COP21

The “$100 000 000 000 per year” question

 Post, October 8, 2015
By Christian De Perthuis, Pierre-André Jouvet
A mechanism of carbon “bonus-malus” is proposed, where the average emission rate of world countries serves as the anchor: above the threshold, countries should pay a malus, under this level, they would receive a bonus.
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COP21

An Investment Climate for Climate Investment

 Post, September 22, 2015
By Sam Fankhauser
Three factors hold back low-carbon investment in Europe: the risk/return profile of low-carbon investment projects, regulatory and behavioural features in the financial sector and a more global political economy context. These are key issues to create an investment climate for climate investment.
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