This article focuses on issues surrounding international oil markets within the wider context of international energy, the global economy, and conflicting agendas such as energy security and climate change. It is suggested that important aspects of the current situation appear...

The major controversies over alternative strategies for the UK economy are surveyed and evaluated in a non-technical manner, concentrating on the positions of three groups prominent in economic forecasting and policy analysis-the National Institute, the London Business School Centre for Economic...

This article considers the role of fiscal policy within a European Monetary Union. There are two quite different issues. The first is the medium-term problem of deficits and debt. The Maastricht fiscal convergence criteria are usually seen as an imperfect response to the need to contain...

The COVID-19 pandemic has had devastating effects on lives, the economy, and the public finances worldwide, drawing attention to the need to enhance resilience to future shocks. This paper focuses on subnational governments, given their important and growing role in the provision of essential...

The world economy and societies are going through a digital transformation that goes well beyond computerisation and use of information and telecommunications technologies. This transformation is creating opportunities and challenges for all levels of government in the areas of tax and...

Experience indicates that fiscal rules can be helpful as a disciplinary device at the central government level. This article explores whether fiscal rules could be usefully adopted in a decentralised framework, where the behaviour of subnational governments may undermine fiscal discipline.

Developing countries face massive infrastructure needs, but public spending on infrastructure is inadequate, and public investment has been declining in recent years. Rising debt levels and tightening fiscal and monetary conditions are putting further pressure on the funds available for...