Economics

  • Permalink Gallery

    Why new tariff codes are necessary to improve trade and combat climate change

Why new tariff codes are necessary to improve trade and combat climate change

A key issue in the fight against climate change and for environmental protection is how to facilitate market access to environmental products (agricultural and non-agricultural ones). The world trading system has an alternative mechanism that can be very useful in that respect: the Harmonysed System (HS), which establishes common classification for goods, facilitating the negotiation process. The creation of new tariff codes for environmental products under HS […]

  • Permalink Gallery

    Brexit is a major and growing source of uncertainty for firms

Brexit is a major and growing source of uncertainty for firms

The majority of businesses in the UK report that Brexit is a source of uncertainty. This column uses survey responses from around 3,000 businesses to evaluate the level and impact of this uncertainty. It finds that Brexit uncertainty has already reduced growth in investment by 6 percentage points and employment by 1.5 percentage points, and is likely to reduce future UK […]

November 23rd, 2018|Economics|0 Comments|

Universities and industrial strategy in the UK

The UK has a world-leading university sector and this has a key role to play in moving the country onto an inclusive and sustainable growth path. Universities can make important contributions across the five foundations that underpin the government’s industrial strategy:

Universities support the productivity and prospects for ‘people’ through the education of students and the nurturing of researchers.
[…]

China’s challenge to international tax rules

States are currently struggling to reach global agreement on the taxation of digital firms such as Apple and Google, suggesting that an international regime characterised by impressive coherence over a century may be beginning to fragment. While work on the politics of the international tax regime is still largely preoccupied with the US, a ‘great power’, this fragmentation largely […]

  • Permalink Gallery

    The digitisation of recorded music: studying the ‘long tail’ effect

The digitisation of recorded music: studying the ‘long tail’ effect

Digitisation, in the form of online retailing, has long been understood to deliver welfare benefit to consumers. Greater consumer access to content has led to an important work on the “long-tail” phenomenon: while the choice set faced by consumer was limited to the shelf-space available in brick-and-mortar stores before the advent of the Internet, consumers can now access and […]

  • Permalink Gallery

    Post-Brexit transfers of personal data: the clock is ticking

Post-Brexit transfers of personal data: the clock is ticking

The UK economy is closely integrated with that of the rest of the EU. One need only consider the number of UK firms with branches in the EU27, and the number of EU27 firms with branches in the UK, to realise that data interchange is of vital economic importance.

Assuming that the UK indeed leaves the EU as a result […]

Can we really get a ‘better’ deal?

Publication of the 585-page Brexit-deal document was immediately followed by swift criticism of Mrs May’s negotiating ‘outcome’ and a series of cabinet resignations. When academics examine a PhD student, they are sent a thesis with 200+ pages and are then asked to examine the candidate no less than a week later. How on earth everybody read the Brexit document in […]

November 16th, 2018|Economics|1 Comment|
  • Permalink Gallery

    Developing an effective local industrial strategy for the UK

Developing an effective local industrial strategy for the UK

The UK’s poor productivity performance has been the source of much debate and policy focus over the last few years. Without an increase in productivity, we won’t see rising wages or higher standards of living. Against a backdrop of continued wage stagnation and huge variations in productivity across the country, the government has invited local leaders up and down […]

  • Permalink Gallery

    Growth, import dependence and war: the risks of Chinese vulnerability

Growth, import dependence and war: the risks of Chinese vulnerability

World trade has increased tremendously in recent decades, driven by the rise of China and other emerging economies. The reliance of world trade on choke points (such as the Strait of Hormuz, the Malacca Strait and the South China Sea) creates the need for someone to guarantee the freedom of navigation. Traditionally, this role has been upheld by the […]

When globalisation gets local: winners and losers

A complex flow of investment is spreading across the globe, connecting more and more places. These flows bundle together streams of capital, skills and knowledge, the key factors in determining the development and wealth of places. As a result, it is now impossible to understand economic opportunities, innovation and development without one central concept: CONNECTIVITY.

However, investment flows are highly […]

The paradox of communist entrepreneurs in China

The Chinese economy has grown phenomenally over the past 40 years since it was opened to the outside world. In recent decades, the private sector in particular has been the engine of this growth, contributing to more than 60 per cent of China’s GDP (US$12,237.7 billion), extensive fixed-asset and outbound investment, 80 per cent of jobs, and 70 per […]

  • Permalink Gallery

    We need to deal with household debt now before the next financial crisis hits

We need to deal with household debt now before the next financial crisis hits

What will happen to indebted households when the next recession hits Europe? Strongly pro-cyclical financial policy in the US is likely to trigger over-heating and recession in the US perhaps already at the end of next year. Many economists predict a recession to strike Europe a year later. One thing is sure. Sooner or later a recession will arrive […]

November 1st, 2018|Economics|0 Comments|

Global talent fosters innovation and collaborative patents

Innovation thrives when a diverse set of ideas come together, and globalisation plays an important role in facilitating this process. This recombination often happens through skilled people moving to top talent clusters or labs. Over 40 per cent of the researchers at America’s top seven cancer research centres are foreign-born, and one researcher described how the interaction of these […]

  • Permalink Gallery

    The European Investment Bank is becoming increasingly politicised

The European Investment Bank is becoming increasingly politicised

Over the past two decades, the European Investment Bank (EIB) has become the world’s largest multilateral financial institution. In 1999, the EU member states’ ‘policy-driven’ bank counted around 1,000 staff members. This number is now close to 3,000. In 1999, the EIB’s balance sheet stood at 200 billion euros. It now stands at 550 billion euros.

While this has given […]

Asian emerging markets in the era of ‘infinity war’

It was just a year ago that Argentina issued a 100-year bond offering a dollar coupon of less than eight per cent, for which there was three times as much demand as supply. Shortly afterwards, major investment banks issued their outlook for 2018. One of them was titled “Synchronised Skating”. Another one said, “As Good As It Gets”. In January […]

What are green jobs and where are they?

Addressing grand environmental challenges (e.g. climate change) entails adapting the skill base and, thus, the composition of the workforce. Recent interventions both in the form of environmental regulation or of subsidies – i.e. the American Recovery and Reinvestment Act (ARRA) of 2009 and its green component, which accounts approximately for 15 per cent of the overall fiscal stimulus – […]

October 17th, 2018|Economics, Environment|0 Comments|
  • Permalink Gallery

    The jury is in on cannabis legalisation in North America: it’s been a success

The jury is in on cannabis legalisation in North America: it’s been a success

Recently on the LSE USAPP blog, Wayne Hall wrote on the effects of legalized cannabis in North America, arguing that the, ‘jury is still out’ on whether legalization of cannabis has been a good thing. Hall’s analysis focused on issues of youth consumption, dependence, and the potential substitution of alcohol for cannabis. These are his areas of specialization and his assertions […]

October 13th, 2018|Economics, LSE alumni|0 Comments|
  • Permalink Gallery

    Zambia’s external debt: distress risk is lurking around in sub-Saharan Africa

Zambia’s external debt: distress risk is lurking around in sub-Saharan Africa

Zambia’s quest for a support facility from the International Monetary Fund (IMF) has been put on hold as the sceptre of external debt distress hangs over the economy. Coming on the back of the Republic of Congo’s default on a $ 478 million payment in June 2016 and Mozambique’s default on a $ 60 million payment in January 2017, […]

  • Permalink Gallery

    Turf wars? Placing geographical indications at the heart of international trade

Turf wars? Placing geographical indications at the heart of international trade

When doing your weekly shop have you ever observed the small blue/yellow and red/yellow circles that appear on the wrappers of Wensleydale cheese or Parma ham? Such indicia are examples of geographical indications (GIs), or appellations: they show that a product possesses certain attributes (taste, smell, texture) that are unique to a specific product and which can only be […]

  • Permalink Gallery

    Peter Trubowitz: For Trump, the principal focus on China is domestic and not geopolitical

Peter Trubowitz: For Trump, the principal focus on China is domestic and not geopolitical

Since July, the Trump administration has targeted China with growing tariffs on imported Chinese goods, with the country responding in kinds. In this interview published by Chatham House’s The World Today magazine, LSE’s US Centre director, Peter Trubowitz, comments that Trump’s trade conflict with China is more about satisfying his supporters at home rather than competing with China on […]