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Identifying European public goods: economic foundations and practical challenges
[Identifier les biens publics européens : fondements économiques et défis pratiques]

Author

Listed:
  • Hugo Hanania
  • Bernard de Poncins

Abstract

Several studies, including the 2024 Draghi report, find that a significant share of the European Union’s (EU) public investment requirements concerns European public goods, requiring EU wide governance and financing. This article explores the public goods that could benefit from such governance, such as those related to defence and the climate. Nevertheless, the diversity of proposals and analyses suggests that the notion of a European public good is evolving and does not enjoy unanimous consensus. A more consensual approach could emerge by taking account of differing preferences between countries, identifying these goods in a more targeted manner and integrating the notion of EU strategic priority. From a central bank perspective, by promoting the competitiveness and resilience of the euro area, increased funding of European public goods would contribute to price stability Plusieurs études, comme le rapport Draghi de 2024, estiment qu’une part significative des besoins d’investissements publics de l’Union européenne (UE) concerne des biens publics européens et requiert une gouvernance et un financement à l’échelle de l’Union. Cet article explore les biens publics qui pourraient bénéficier d’une telle gouvernance, comme la défense ou le climat. La diversité des propositions et des analyses suggère néanmoins que la notion de bien public européen est évolutive et ne fait pas l’unanimité. Une approche plus consensuelle pourrait émerger en tenant compte des préférences variables entre pays, en identifiant ces biens de façon plus ciblée et en y intégrant la notion de priorité stratégique de l’UE. Du point de vue d’une banque centrale, un financement accru des biens publics européens, en favorisant la compétitivité et la résilience de la zone euro contribuerait à la stabilité des prix.

Suggested Citation

  • Hugo Hanania & Bernard de Poncins, 2025. "Identifying European public goods: economic foundations and practical challenges [Identifier les biens publics européens : fondements économiques et défis pratiques]," Bulletin de la Banque de France, Banque de France, issue 257.
    • Handle: RePEc:bfr:bullbf:2025:257:02
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    References listed on IDEAS

    as
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    4. Grégory Claeys & Armin Steinbach, 2024. "A conceptual framework for the identification and governance of European public goods," Bruegel Working Papers node_10043, Bruegel.
    5. Emmanuel Mourlon-Druol, 2024. "An uphill struggle- a long-term perspective on the European public goods debate," Bruegel Policy Brief node_10381, Bruegel.
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