European growth has been in stagnation since the financial crisis of 2007-2009. But Europe is suffering not only from low growth. Even more worryingly, its long-term growth potential is in decline. For two decades, investment has been too low, and arguably much went to the wrong sectors. This has undermined productivity, hampering Europe’s growth potential and putting its competitiveness at risk. Debora Revoltella, Chief Economist of the European Investment Bank, presented the need for an investment plan for Europe, focusing on competitiveness enhancing investments. Her analysis focused on research within the European Investment Bank and how this research inspired the development of the EU Investment Plan – the Juncker Plan.
Co- sponsored by CCSI and the Center on Global Economic Governance.
Debora Revoltella is the Director of the Economics Department of the European Investment Bank since April 2011. She joined the bank with the task of merging the two pre-existing internal structures, refocusing research activities to better serve the needs of the institution. Since then, the Department provides impact-driven economic analysis to support operations, the global positioning as well as the policy and strategy definition of the bank. The department comprises 30 economists, working in three divisions – Economic Studies, Country and Financial Sector Analysis and Policy and Strategy. Main publications of the department include the Annual Report on Investment and Investment Finance in Europe, regular Economic Notes on structural issues concerning the European economy and publications on the state of the banking sector of the different regions of operations of the EIB (CESEE, ENCA, North African Countries, ACP, etc.). The Economic Department is also in charge of the EIB Report on Results – which assesses the development impact of projects financed by the EIB under various mandates. She holds a degree in Economics and a Master in Economics from Bocconi University as well as a PhD in Economics from the University of Ancona in Italy. After the experience as an adjunct Professor in Macroeconomics at Bocconi University, She joined the research department of Banca Commerciale Italiana, a leading Italian Bank. In 2001, she joined UniCredit as the Chief Economist for Central and Eastern Europe. She managed a team of 40 economists in charge of supporting the institution in its regional growth strategy. During these years, the department developed into a leading research centre for the region. She is member of the Steering Committee of the Vienna Initiative, an alternate member of the Board of the Joint Vienna Institute and a member of the Scientific Committee of SUERF.