This event will feature a presentation of the EBRD Transition Report 2017-18.
At this event we will discuss the EBRD’s transition report 2017-18. The theme of the Transition Report this year is “Sustainable Growth”. The Report will further develop the theme of the 2016-17 Transition Report, Transition for all: Equal opportunities in an unequal world. This is based on the understanding that growth and economic inclusion are two sides of the same coin: sustainable growth cannot be achieved without inclusion, but without healthy growth inclusion becomes a zero-sum game and thus is also not sustainable.
In recent years, rates of economic growth (and of convergence to the West) in the EBRD’s region have fallen sharply. The report will address the topic of growth against this background. It seeks to evaluate the current position of various countries in the region in terms of economic convergence and articulate a new growth agenda, with particular reference to distinct challenges faced by lower-middle-income and upper-middle-income countries in the region and beyond. In doing so, the report zooms in on the potential new sources of growth in the 21st century: greater dynamism reflected in innovation, entry, growth and exit of firms; infrastructure investment taking advantage of record-low cost of financing as well as lower unit cost of investment; and green growth – seeing climate change commitments as an engine of growth rather than a constraint on economic development.
This event will be livestreamed on this page starting at 13.00. There is no need to register for the livestream.
Registrations for this event are not yet open.
Check in and lunch
Sergei Guriev, Chief Economist, European Bank for Reconstruction and Development (EBRD)
Managing Director, Communications, EBRD
Director for Programme and Ideas of Emmanuel Macron’s presidential campaign
Chief Economist, European Bank for Reconstruction and Development (EBRD)
Director, Economics Department, European Investment Bank
The Annual Meetings are Bruegel’s flagship event. They offer a mixture of large public debates and small private sessions about key issues in European and global economics. In a series of high-level discussions, Bruegel’s scholars, members and stakeholders will address the economic policy challenges facing Europe.
Europe’s post-crisis recovery has been disappointing in comparison with the USA. But lower rates of inequality are staving off populism and bolstering support for globalisation. With the USA an increasingly unpredictable partner, the EU must address internal imbalances and build alliances to defend the multilateral order.
Traditional finance focuses on financial return, considering the financial sector separate from both society and the environment. In contrast, sustainable finance considers financial, social and environmental returns in combination. In a new essay, Dirk Schoenmaker provides a framework for sustainable finance highlighting the move from the narrow shareholder model to a broader stakeholder model. Here he presents the key arguments.
Essay / Lecture
Traditional finance focuses solely on financial return and risk. By contrast, sustainable finance considers financial, social and environmental returns in combination. This essay provides a new framework for sustainable finance highlighting the move from the narrow shareholder model to the broader stakeholder model, aimed at long-term value creation for the wider community. Major obstacles to sustainable finance are short-termism and insufficient private efforts. To overcome these obstacles, this essay develops guidelines for governing sustainable finance.
This presentation was delivered in Brussels at the Employment and Social Affairs Committee (EMPL) of the European Parliament on 29 May 2017.
Can manufacturing still be a driver for inclusive growth around the world? What European and national policies can foster inclusive growth in Europe? What is the situation in Spain and what can Spain learn from the global and European experiences?
What’s at stake: at odds with the conventional wisdom of constant factor shares, the portion of national income accruing to labour has been trending downward in the last three decades. This phenomenon has been linked to globalisation as well as to the change in the technological landscape - particularly “robotisation”. We review the recent literature on this issue.
At this event the Managing Director of the International Monetary Fund, Christine Lagarde, will speak about the global outlook and policy priorities, ahead of the 2017 IMF Spring Meetings
Curtain raiser speech ahead of the 2017 IMF Spring Meetings delivered at Bruegel by the Managing Director of the International Monetary Fund.
Now more than ever, the EU needs to address concerns about the significant decline in productivity growth and the increasing perception of unfairness. Completing the single market would unlock the EU's growth potential. At the same time, the EU should empower member states to fight inequality by helping them better distribute the gains arising from economic integration.
Inclusive growth has been the exception globally, and will be a greater challenge in the future. Achieving it has to be central to our agenda, but requires rethinking and reprioritisation.
The ‘poverty’ target set by the European Commission aims to lift “over 20 million people out of poverty” between 2008 and 2020 in the EU27. Progress to date against this target has been disappointing. Why is it so hard to reach the Europe 2020 ‘poverty’ target? What does the poverty indicator actually measure?