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Growing the Globalisation Research Initiative NEWSLETTER | ISSUE ELEVEN | SUMMER 2015 INSIDE | CAGE announces Growing the new advisory board | Analysing the public health Globalisation challenges of antimicrobial resistance Research Initiative | Assessing whether ‘secular stagnation’ With a £3.5 million award from the Economic and Social is Europe’s future Research Council, CAGE expands its agenda to take on a wider array of issues on the world’s economic and political stages. We created CAGE to undertake research to improve living standards, raise that would lead to better insights about productivity, maintain international how and why different countries achieve competitiveness, and facilitate economic success in a world that is the economic well-being of their more and more globally connected. citizens. We will continue to hone our distinctive approach, in using historical In the five years since our founding perspectives to understand current amid the worst economic downturn events. the world has experienced since the Great Depression, the world continues Our new funding allows us to tackle to face economic challenges that signal a new research theme with particular a need for CAGE’s signature approach. resonance for our times: assessing Nicholas Crafts, a professor in Fear of ‘secular stagnation’ haunts the implications of globalisation Economics Department at the the Eurozone. Wage growth has been for policymaking and for economic University of Warwick, is the mediocre, and the gap between high- and political outcomes in Western director of CAGE. Prof. Crafts is and low-wage earners is expanding. democracies. And, a new partnership widely recognised for his scholarly Real risks and uncertainties loom over allows us to expand our outreach. work in economic history, which matters as varied as monetary policy, The Social Market Foundation, the provides insights that inform current unsustainable public finance practices independent public policy think tank, policy debates. The 2014 Queen’s and emerging geopolitical tensions. In provides us with a research partner Birthday Honours List named Prof. short, the globalised economy remains and a conduit to the worlds of media, Crafts a Commander of the Order a puzzle that economists have yet to politics and policy. of the British Empire (CBE) for his solve, and CAGE can help to illuminate. With these resources and this services to economic policy. He is Thus, our research will continue to partnership, our researchers are poised also a Fellow of the British Academy, take on issues about how countries to take on the demanding questions of an honour recognising scholarly can succeed in achieving objectives our challenging economic times. distinction. cage newsletter | go.warwick.ac.uk/cage | 1 events A new CAGE Research Theme Over the past few decades, which governments and citizens in governments and citizens have had to developed countries face. Theme Four adapt to the new rules of a globalised will also contribute to the key research world. Against this backdrop, CAGE’s challenge of ‘Succeeding in the Global new Theme Four focuses on the Economy’. By shedding light from effects of market integration and different scholarly perspectives on internationalisation on Western the question how policymakers in democracies. Western democracies can adapt to Methodologically this theme offers a challenges posed by international political economy view on theoretical market integration, Theme Four will questions and uses the empirical generate policy-relevant evidence able apparatus of quantitative comparative to inform economic policymaking. and international political economy. New research will address the From this perspective Theme Four following questions: will strengthen the interdisciplinary approach within CAGE by integrating • Will globalisation produce a race scholarly work from political economy to the bottom that undermines and quantitative political science. European Economies? Vera Troeger, professor of More generally, Theme Four • Which variety of capitalism will quantitative political economy, is contributes to and builds on the cope best with the challenges of the Theme Four Leader at CAGE. existing CAGE research programme globalisation? surrounding the unifying focal theme She also serves as editor in chief of ‘managing change’. Particularly, • How are preferences about of ‘Political Science Research and Theme Four focuses on the changes market integration, redistribution Methods (PSRM)’, the Journal of and challenges of globalisation and and the welfare state affected by the European Political Science international market integration globalisation? Association (EPSA). Frances Cairncross leads new CAGE advisory board Twelve individuals with academic and policy expertise comprise the new CAGE Advisory Board. The group chair is economist, journalist and academic Frances Cairncross. She chairs the executive committee of the Institute for Fiscal Studies, and is a Senior Fellow at the School of Public Policy at the University of California Los Angeles, and Chair of Court at Heriot-Watt University, Edinburgh. She will be leading an Advisory Board whose members are: • Nicholas Crafts, CAGE Director, • Simon Swain, Pro Vice-Chancellor • Stevan Lee, Senior Economist and Professor, Economics Department, (Arts and Social Sciences), The Team Leader, Growth Research at The University of Warwick University of Warwick the Department for International • Sascha Becker, CAGE Research • Stephen Roper, Director, Enterprise Development Director, Professor, Economics Research Centre, Warwick Business • Nigel Miller, Senior Economist, Department, The University of School, The University of Warwick Economic Growth Analysis, Warwick • Sheilagh Ogilvie, Professor Department for Business, • Mark Harrison, CAGE Impact of Economic History, Faculty Innovation and Skills Director, Professor, Economics of Economics, University of • Jim Reid, Managing Director, Head Department, The University of Cambridge of Global Fundamental Credit Warwick • Liam Halligan, The Sunday Telegraph Strategy Deutsche Bank • Peter Elias, Professor, Institute Columnist, Broadcaster, and for Employment Research, The formerly the Chief Economist at University of Warwick Prosperity Capital Management. 2 | cage newsletter | go.warwick.ac.uk/cage people Global Perspectives Cormac Ó Gráda The Global Perspectives series is a new collaboration between the Social Market Foundation and CAGE. Cormac Ó Gráda from the University College Dublin delivered his public lecture, ‘Cast Back into the Dark Ages of Medicine? The Challenge of Antimicrobial Resistance’ on 28th April. It is the second in the Global Perspectives series. Professor Cormac Ó Gráda, Highlights from his briefing: economics professor at the University The ‘pipeline’ of new drugs is not as dry as is usually claimed in the media, of College Dublin, presented a briefing showing that, as of December 2014, 37 new antibiotics were listed as being paper, ‘Cast Back into the Dark ‘under development’ in the United States alone. Ages of Medicine? The Challenge of With the virtual eradication of most infectious diseases, life expectancy in Antimicrobial Resistance’, analysing the UK and other high-income countries has doubled in the last century. the challenges to global public health in The gains in poor countries have been smaller, but are still significant. controlling infectious diseases as the Most of the increase in life expectancy preceded the antibiotics revolution. effectiveness of long-used antibiotics wanes. The paper is the second in Public health measures have been essential to controlling infectious the Global Perspectives series, the diseases. Even if AMR increases, the effect of existing and new public collaboration between the Social Market health measures will limit the negative consequences. Foundation and CAGE. The challenge of tackling antimicrobial resistance requires a focus on Prof. Ó Gráda said that the challenge both the supply of antimicrobials (the ‘pipeline’) and the demand for them of antimicrobial resistance needs to be (consumption). set in historical context: though real, it There is considerable scope for reducing consumption and thereby the is unlikely to mean a return to ‘the dark spread of resistance. Public health initiatives and health education can ages of medicine’. usefully reinforce measures to restrain consumption. This celebration of the social sciences takes place across the UK - via public debates, conferences, workshops, interactive seminars, film screenings, virtual exhibitions and much more. 2015 is the 30th year that the ESRC has held the Festival of Social Science and each year the Festival grows from strength to strength. This year is particularly special as it will mark the ESRC’s 50th Anniversary. See the ESRC website for details. We will be supporting this year’s Festival by organising two events at the University of Warwick. On 10 November Looking ahead: CAGE researchers will present a showcase of their work to sixth formers who are interested in studying economics at 7 - 14 November 2015 university. And on 12 November CAGE researcher Dr Anandi Mani will give a public lecture on her research into poverty, development and wellbeing. cage newsletter | go.warwick.ac.uk/cage | 3 news Welcome... CAGE extends a warm welcome to its Congratulations... new visitors, including post-doctoral students and visiting researchers. Frances Cairncross, the chair of the CAGE Advisory Board, was named as a Dame of the British Natasha Postel-Vinay is a visiting post- Empire (DBE) in the 2015
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