We consider the economic record of the 1997–2010 Labour government in the UK. Following a brief review of the government’s inheritance from its predecessor, we review the assessments made in the other papers in this issue of the <italic>Oxford Review of Economic Policy</italic>: the change in the...

This article, which serves as an introduction to the <italic>Oxford Review of Economic Policy</italic>’s issue on ‘Macroeconomic Policy Coordination: Global Imbalances and Global Growth’, charts the evolution of international macroeconomic policy coordination from the end of the Second World War until the...

This paper describes the origins of the global financial crisis and how the prevailing New Keynesian macroeconomic orthodoxy failed to anticipate its severity. This failure, we argue, stemmed from an incomplete understanding of the pivotal role of financial institutions in the amplification of...

Research in the field of economic development is increasingly engaged with questions of political economy, of how political choices, institutional structures, and forms of governance influence the economic choices made by governments and citizens. We summarize recent developments in the field...