Two years after the COVID-19 pandemic, the Greek economy seems to have overcome the turmoil of the pandemic crisis as well as that of the following energy crisis. Nevertheless, it would be wrong to assume that the Greek economy has returned to a sound state, since this was not really the case...

This paper discusses macroeconomic and monetary policy-making at the European Commission, covering the period from the Rome Treaties to the Hague Summit. It is based on an analysis of public documents, archival research and interviews with former policy-makers. The paper starts with an overview...

Economic policies rely on demographic projections. Yet in making these projections, researchers often ignore the aspect of household formation - despite sustained trends in many industrialized countries towards smaller household units with fewer members. Over the long term, this trend is likely...

After the 2001 crisis, Turkey continued to pursue a radical market-oriented reform strategy that followed the philosophy of the Washington Consensus. By the early 2000s the government had already liberalised the capital account, privatised many banks and enterprises, and kick-started the...

This paper analyzes five Productive Development Policies (PDPs) implemented in Costa Rica, finding that they are not optimally addressing market failures. Moreover, government failures rather than market failures represent the main justification for PDPs. Even in the presence of market failures,...

This paper surveys selected themes in the political economy of policymaking in Latin America, with an emphasis on recent research focusing on actual decision and implementation processes, and on the political institutions and state and social actors involved in those processes. In particular,...

The capacity to sustain policies over time and the capacity to adjust policies in the face of changing circumstances are two desirable properties of policymaking systems. The veto player approach has suggested that polities with more veto players will have the capacity to sustain policies at the...

This paper analyzes the political economy of productivity-related policymaking in Chile following a political transaction cost model (Spiller and Tommasi, 2003; Murillo et al., 2008). The main findings indicate that i) the Chilean policymaking process (PMP) was successful in the 1990s in...