Action Policy Digest October 2019

Autore :

Data: 14-10-2019

Tipo: Other

Tematica: Action Institute

Organized as a monthly newsletter, it presents an overview of the current international policy debate. You find below a selection of the best ideas from the most influential think tanks, structured in four areas: (i) Finance, (ii) Innovation and Development, (iii) European Affairs and (iv) Social Policy.

 “The emergence of Big Tech in financial intermediation“. BigTech firms are entering finance, and their access to massive amounts of information may give them an edge in areas like credit assessment and beyond. This column assesses the economic forces behind the adoption of Big Tech services in finance.

 “Has the dollar lost ground as the dominant international currency?“. A currency’s share of global foreign exchange (FX) reserves, as reported by the IMF, is a key indicator of its prominence as a reserve currency. In 2013, the IMF had information about the currency composition of only about half of global FX reserves. Today, that share stands at 94 percent as most major reserve holders, including China, now report (confidentially) to the IMF the currency composition of their FX reserves.

 “Banking, FinTech, Big Tech: Emerging challenges for financial policymakers“. FinTech and Big Tech firms are both increasingly stepping on banks’ traditional turf. This column looks at the challenges generated by new technology-enabled entrants to the global banking industry and the public authorities that oversee it.

 “Data sharing in credit markets“. International institutions such as the World Bank have shown that data sharing on borrowers contributes to improving the risk profile of borrowers and increasing access for more customers to credit markets. Several relevant academic articles underline these results.


 “The IT revolution and southern Europe’s two lost decades“. Productivity growth in southern Europe has been lower than in other developed countries. The column argues that this has in large part been caused by slow adoption of information technology, compounded by inefficient management.

 “Cybersecurity and digital trade: Getting it right“. Trade and cybersecurity are increasingly intertwined. The expansion of the internet globally and use of data flows globally by businesses and consumers for communication, e-commerce, and as a source of access to information and innovation, is transforming international trade.


 “Preparing for Horizon Europe: The essential guide“. The EU is now planning its biggest-ever R&D programme. Science|Business, drawing on its independent news coverage, takes you through what it’s all about, so you can start preparing.

 “Making public services interoperable across the EU“. Digital is reshaping all aspects of society, including the way public administrations work with one another and how public services are delivered. The potential of the data economy for the EU is significant: in 2016, it was worth almost €300 billion, i.e. about 2% of the EU28 GDP; by 2020, it is expected to be over €700 billion.

 “La Banca centrale europea“. The European Central Bank is an independent and supranational institution with the primary task of defining and managing monetary policy for the euro-area, ensuring price stability. The publication tells its history and illustrates its functions, structure and responsibilities and the exceptional answers to respond to the “perfect storm” of the crisis.


 “Changing business cycles: The role of women’s employment“. The US economy has been hampered over the last four decades by three trends: the productivity slowdown, the Great Moderation, and jobless recoveries. Economists seeking to explain these phenomena have generally looked to the impact that technological change has on labour demand.

 “Labour market and social policy“. The mega-trends of digitalisation and automation have already changed labour markets and value chains around the world, with their inevitable economic and social consequences. And the pace of change is accelerating; job markets and skills requirements are evolving faster than traditional labour market practices and institutions.


Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Herbert Hoover […]


Good health is essential to social and economical development and it empowers all of the public sectors.

World Health Organization […]


Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Peter Drucker […]

Human Capital

Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.

Ludwig Wittgenstein […]