bruegel -德拉吉的艰难处境：欧盟委员会的竞争力指南针 Draghi on a shoestring - the European Commission’s Competitiveness Compass.docx

下载文档

0
0
约2.12万字
约 18页
2025-02-11 发布于山西
举报
版权申诉
保障服务

bruegel -德拉吉的艰难处境：欧盟委员会的竞争力指南针 Draghi on a shoestring - the European Commission’s Competitiveness Compass.docx

1、本文档共18页，可阅读全部内容。
2、有哪些信誉好的足球投注网站（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。

ANALYSIS03February2025

Draghionashoestring:theEuropeanCommission’s

CompetitivenessCompass

TheproposedEUCompetitivenessCompasswouldsetupacon?ictbetweenindustrialpolicyandthesinglemarket

JerominZettelmeyer

InSeptember2024,formerItalianprimeministerandEuropeanCentralBankgovernorMarioDraghideliveredamajorreporttotheEuropeanCommissioncontaininga

diagnosisoftheEuropeanUnion’scompetitivenessproblems(Draghi,20241).The

reportsetoutthreebigideas:(1)abigpush,coordinatedacrossmemberstates,to

improvetheEU’sbusinessenvironment;(2)anexpansive,centrally-steeredindustrialpolicytopromotecleantech,ensureminimumindustrialcapacityinsecurity-sensitivesectorsandsubsidisethedecarbonisationofenergy-intensiveindustry;(3)alarge,

centrally-fundedpublic-investmentpush,particularlyinenergyanddigitalinfrastructure.

Thisvisionisradicalinthreeways.First,itrequiresexceptionalcooperationand

coordinationacrossEUcountries.Second,itviolatesfree-tradeorthodoxy.FollowingtheexampleoftheUSInflationReductionAct,Draghimadeapitchforsubsidiesbased

onlocalcontent(whichareillegalunderWorldTradeOrganisationrules).Third,itpromisestobeveryexpensive.Evenassumingabigroleforprivatelyfinanced

investment,ideas2and3willcostalotofpublicmoney,whichDraghiwantstobecomeavailableattheEUlevel,includingthroughcommonborrowing.

TheEuropeanCommission’sinitialanswer2toDraghi’sradicalandpotentiallydivisivevisionappearedtobe:yes,butwithsignificantcaveats.GrabbeandZettelmeyer(2025)

analysedthisresponseindetail,andalsoansweredthequestionofwhetherthe

Commission’spolicyplatformisstrongenoughtodealwithPresidentTrump(answer:notquite).

Bruegelanalysis