Economic Research Forum (ERF)

Ugo Panizza

Author

Ugo Panizza
Professor of Economics and Pictet Chair at the Graduate Institute, Geneva; CEPR Vice president and Research Fellow

Ugo Panizza is Professor of Economics and Pictet Chair at the Graduate Institute, Geneva and a CEPR Research Fellow. Prior to joining the Institute, Ugo was the Chief of the Debt and Finance Analysis Unit at the United Nations Conference on Trade and Development (UNCTAD). He also worked at the Inter-American Development Bank and the World Bank and was an Assistant Professor of Economics at the American University of Beirut and the University of Turin. His research interests include international finance, sovereign debt, banking, and political economy. He is a former member of the executive committee of the Latin American and Caribbean Economic Association (LACEA) and an Editor of the Association's journal Economia. He is also a member of the editorial board of the IMF Economic Review, the Review of Development Finance, and the Review of Economics and Institutions. He holds a PhD in Economics from The Johns Hopkins University and a Laurea from the University of Turin.

Content by this Author

Shaping Africa’s post-Covid recovery: a new eBook

While most African countries have been largely spared so far from the direct health effect of the Covid-19 pandemic, the continent’s economy has been significantly hurt by the economic consequences. This is particularly concerning given Africa’s high prevalence of extreme poverty. This column introduces a new eBook from CEPR Press, which focuses on business and household responses to the Covid-19 crisis in Africa, as well as access to international finance, patterns in international borrowing and country-specific experiences during the pandemic.

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Sanctions and the shrinking size of Iran’s middle class

International sanctions imposed on Iran from 2012 have reduced the size of the country’s middle class, according to new research summarised in this column. The findings highlight the profound social consequences of economic pressure, not least given the crucial role of that segment of society for national innovation, growth and stability. The study underscores the need for policies to safeguard the civilian population in countries targeted by sanctions.

Artificial intelligence and the renewable energy transition in MENA

Artificial intelligence has the potential to bridge the gap between abundant natural resources and the pressing need for reliable, sustainable power in the Middle East and North Africa. This column outlines the constraints and proposes policies that can address the challenges of variability of renewable resources and stress on power grids, and support the transformation of ‘sunlight’ to ‘smart power’.

Green jobs for MENA in the age of AI: crafting a sustainable labour market

Arab economies face a dual transformation: the decarbonisation imperative driven by climate change; and the rapid digitalisation brought by artificial intelligence. This column argues that by strategically managing the green-AI nexus, policy-makers in the region can position their countries not merely as followers adapting to global mandates but as leaders in sustainable innovation.

Egypt’s forgotten democratisation: a challenge to modern myths about MENA

A widely held narrative asserts that countries in the Middle East are inevitably authoritarian. This column reports new research that tracks Egyptian parliamentarians since 1824 to reveal that the region’s struggle with democracy is not in fact about cultural incompatibility: it’s about colonialism disrupting home-grown democratic movements and elite conflicts being resolved through disenfranchisement rather than power-sharing.

MENA integration into global value chains and sustainable development

Despite the geopolitical advantages, abundant natural resources and young populations of many countries in the Middle East and North Africa, they remain on the periphery of global value chains, the international networks of production and service activities that now dominate the world economy. This column explains the positive impact of integration into GVCs on exports and employment; its role in technology transfer and capacity upgrading; and the structural barriers that constrain the region’s involvement. Greater GVC participation can help to deliver structural transformation and sustainable development.

Arab youth and the future of work

The Arab region’s labour markets are undergoing a triple transformation: demographic, digital and green. As this column explains, whether these forces evolve into engines of opportunity or drivers of exclusion for young people will hinge on how swiftly and coherently policy-makers can align education, technology and employment systems to foster adaptive skills, inclusive institutions and innovation-led pathways to decent work.

Wrong finance in a broken multilateral system: red flags from COP30-Belém

With the latest global summit on climate action recently wrapped up, ambitious COP pledges and initiatives continue to miss delivery due to inadequate commitments, weak operationalisation and unclear reporting systems. As this column reports, flows of climate finance remain skewed: loans over grants; climate mitigation more than climate adaptation; and weak accountability across mechanisms. Without grant-based finance, debt relief, climate-adjusted lending and predictable multilateral flows, implementation of promises will fail.

Why political connections are driving business confidence in MENA

This column reports the findings of a new study of how the political ties of firms in the Middle East and North Africa boost business confidence. The research suggests that this optimism is primarily driven by networked access to credit and lobbying, underscoring the need for greater transparency and institutional reform in corporate governance.

Digitalising governance in MENA: opportunities for social justice

Can digital governance promote social justice in MENA – or does it risk deepening inequality and exclusion? This column examines the evolution of digital governance in three sub-regions – Egypt, Jordan and the countries of the Gulf Cooperation Council – highlighting how data practices, transparency mechanisms and citizen trust shape the social outcomes of technological reform.




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