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Economy Business Featured trade

Human capital formation as a key component in Europe’s defence build-up

Government spending on defence, particularly defence R&D, can have significant economic spillovers. This column argues that the forthcoming European defence build-up must include a long-term strategy to develop high-quality human capital. Military human capital development serves a dual-purpose role: it is crucial for the modern (largely non-combat) battlefield, and also valuable for long-run productivity growth. […]

Energy Climate Environment Featured

Defence and climate: seven points for a common agenda

Faced with major security challenges, Europe is preparing to boost its defence capacity. To defend itself against Russia without the United States, Europe needs to rapidly increase spending from the current level of about 2 percent of GDP to an estimated 3.5 percent of GDP – an increase of about €250 billion annually (Burilkov and […]