Par arrêté du Premier ministre en date du 18 décembre 2012, M. Sébastien JEAN est nommé directeur du Centre d'études prospectives et d'informations internationales.

Europeans face a fourfold crisis: a sovereign debt crisis, a banking crisis, a competitiveness crisis and a crisis of governance. CEPII's first Policy Paper highlight the key issues that need to be addressed for a comprehensive solution to be found.

Restoring the smooth functioning of the interbank markets was a key objective for Mario Draghi when he became president of the ECB. One year and two LTROs later, the ECB reached its target.

In December 2011, the 'six pack' introduced a new surveillance procedure of macroeconomic imbalances at the European level. However, the ten indicators used for the early warning of imbalances do not seem much more relevant than the simple indicator of the current account balance.

International trade plays a key role in technological diffusion. In a recent work, we show how firms can improve their competitiveness and export performance through importing more varieties of high quality or lower cost intermediate goods.

On October 2, Mikheil Saakashvili - who has led the "Rose Revolution" in Georgia in 2003 and has been president since 2004 - admitted defeat of his party in Georgia's parliamentary election against Bidzina Ivanishvili.

The banking reforms that took place in India in the mid 90s have improved the availability of credit. However, the effects of financial development on firms' growth appear to be unequal depending on their characteristics. Where are the gains from credit expansion concentrated?

On 12 of September, the European Commission (EC) has unveiled its proposal that shifts banking supervision to the European level, giving sweeping supervisory powers to the ECB. 

The Lettre du CEPII No. 324 shows that internal devaluation strategies in Latvia and in Ireland produced only limited adjustments at the price of considerable social costs.

An international organization (uniquely) in charge of managing international migration flows is missing. However recent Preferential Trade Agreements (PTAs) include migration related provisions able to manage migration flows. Further, the signature of a PTA itself boosts bilateral migration flows.