The CEPII is France's leading institute for research on the international economy. The Centre's independence is guaranteed by its Board, which sets out the strategic guidelines for the CEPII's research. The Board comprises government officials, business personalities, trade unionists and...

This paper explores the relationship between economic growth and the welfare state. We argue that: (i) the institutional constraints set by the international monetary system may be at least as effective determinants of growth differentials between countries as the different dimensions of their...