CIMR Debates in Public Policy Seminar Series: 'Public Investments for Reconstructing Europe'
When:
—
Venue:
Online
When: throughout May, June and July (sign up through the individual event pages), 1pm - 2pm
Where: online
During May, June and July CIMR invites you to participate in three lunchtime one hour online debates on topical issues. In each, leading scholars and practitioners will present their ideas on current economic, innovation and policy issues, and you will have the chance to respond to their ideas.
This event, the first in the series, will be given by Professor Daniele Archibugi on 'Public Investments for Reconstructing Europe'. Dr Marion Frenz will chair the session.
Professor Archibugi, economist, is Professor of Innovation, Governance and Public Policy at Birkbeck, University of London and Research Director at IRPPS-CNR in Rome.
Please sign up by 5pm on Monday 18th May. You will be sent a link to join ahead of the session.
Talk abstract:
The debate about the reconstruction after the Covid-19 crisis has mainly addressed the forms of increasing liquidity through various forms of debt (such as European Stability Mechanism, Eurobonds, European Recovery Fund and others). Much less attention has instead been paid to the strategy for economic recovery which, in turn, could allow to increased output and employment.
This paper argues that in 2019, before the beginning of the Covid-19 pandemic - the European Union did not manage to fully recover the level of investment of 2008. The poor investment record is even more notable taking into account that for the whole decade 2009-2019 the interest rates have been very low, despite the expansive monetary policy carried out by the European Central Bank and the availability of loans by the European Investment Bank.
The post Covid-19 recovery should therefore be based on a more direct public intervention, especially in areas where the European Union could exploit new scientific and technological opportunities. The paper argues that a major plan of public investments is needed and that this should be also combined to the support of a few European companies in emerging industries.
Contact name:
Alice Dowden