Early Parliamentary Elections in Macedonia: More of the same or new beginnings? CEPS Commentaries, 21 March 2014

There is no doubt that the prospect of EU accession has had a major impact in promoting much-needed reforms and building stable institutions in the countries of former Yugoslavia. Yet, as reflected in all the internationally recognised indicators, the goal of achieving effective democracy throughout the region remains very much a 'work in progress', especially in Macedonia. In this Commentary, Erwan Fouéré considers whether the main governing party in Macedonia will change its behaviour to enable the country to move forward.

How returns from tertiary education differ by field of study. Implications for policy-makers and students. CEPS Working Document No. 411/July 2015

With the huge growth in enrolment in higher education, the key question facing young people today is not so much “what to study” as “whether to study”. Taking a methodologically innovative approach, this paper measures the net present value of university education and compares returns from studying a range of different subjects. We use data from 5 European countries (France, Italy, Hungary, Poland and Slovenia) and include (opportunity) costs in the computation. Results suggest that enrolling in science, technology, engineering and mathematics (STEM) courses is often not the best investment for students, especially female students. In choosing what to study, therefore, students are taking decisions that are consistent with their own private returns. This suggests that policymakers should consider changing the incentives offered if they wish to change students’ behaviour.

The Effects of Sanctions and Counter-Sanctions on EU-Russian Trade Flows. CEPS Commentary, 5 July 2016

After Russia annexed Crimea in early 2014 and then intervened, manu militari, in the Eastern part of Ukraine, the European Union wanted to show its disapproval and put pressure on Russia to change its behaviour. A wide variety of measures were taken, including the imposition of individual restrictions, such as asset freezes and travel bans, but also the suspension of development loans from the EBRD. But the EU (together with the United States) also took, in July and September 2014, a set of broader measures: limited access to EU primary and secondary capital markets for targeted Russian financial institutions and energy and defence companies; export and import bans on trade in arms; an export ban for dual-use goods and reduction of Russia’s access to sensitive technologies and services linked to oil production.