The Vienna Institute for International Economic Studies

The Vienna Institute for International Economic Studies (wiiw) is a non-partisan, non-profit economic research institute specialised in Central, Eastern and Southeastern Europe, based in Vienna, Austria. It was founded in 1972 and is currently headed by Mario Holzner.[3]

The Vienna Institute for International Economic Studies
Wiiw Logo.png
Established1972; 49 years ago (1972)
FocusInternational Economics, Macroeconomics, Labour Markets, Migration, Central, Eastern and Southeastern Europe
ChairHannes Swoboda[1] (President)

Mario Holzner (Executive Director)

Robert Stehrer[2] (Scientific Director)
AddressRahlgasse 3, 1060 Vienna, Austria
Location
Websitehttps://www.wiiw.ac.at/

With a budget of around 4 million euros annually (3.7 million euros in 2020) and just under 40 employees,[4] wiiw is the third largest economic research institute in Austria after the Austrian Institute of Economic Research (WIFO) and the Institute for Advanced Studies.[5][6] Its biggest financiers are the Austrian Ministry of Finance, the Austrian National Bank (OeNB),[7][8][9] the city government of Vienna and the Austrian Chamber of Labour.[4] Discussions are currently underway on the type of future financial support to be provided by the Austrian National Bank for all three major economic research institutes in Austria, including the wiiw.[10][11]

About 40 per cent of the annual budget is generated through contract research, mainly for national and international clients such as the Austrian Federal Ministry for Digital and Economic Affairs, the World Bank, the IMF or the EU Commission.[4]

The Institute conducts economic research on currently 23 countries in Central, Eastern and Southeastern Europe[12] including Russia, Ukraine, Belarus, the Visegrád countries, the Balkans and Turkey. Additionally, wiiw focuses on macroeconomics,[13][14] trade, competitiveness, investment, the European integration process, regional development, labour markets, migration and income distribution.[15]

Ferdinand Lacina former wiiw President.jpg

wiiw's current President is Hannes Swoboda, whose predecessor from 1984 to 2015 was former Austrian Finance Minister Ferdinand Lacina.[16]

The Economic Advisory Board of the institute consists of Rumen Dobrinsky (formerly UNECE), Barry Eichengreen (University of California, Berkeley), Elhanan Helpman (Harvard University), Dani Rodrik (Princeton University), Dariusz Rosati (Warsaw School of Economics), Robert E. Rowthorn (University of Cambridge), André Sapir (Université libre de Bruxelles and Bruegel), Alan Winters (University of Sussex) and Charles Wyposz (Geneva Graduate Institute of International Studies).[17]

wiiw's proposal of a "European Silk Road" to build a high-speed rail link along two routes connecting Lisbon to Uralsk and Milan to Volgograd and Baku drew a lot of international attention.[18]

Scientific expertiseEdit

One of wiiw's most renowned publications is the Forecast Report Eastern Europe. It analyses the economies of 23 countries in Central, Eastern and Southeastern Europe (CESEE) and provides a detailed forecast of the macroeconomic indicators of the following countries: Albania, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Estonia, Hungary, Kazakhstan, Kosovo, Latvia, Lithuania, Moldova, Montenegro, Northern Macedonia, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

The most recent Autumn Forecast Report 2021 received a broad echo in the Austrian an international media.[19][20][21][22][23][24]

wiiw also provides expertise on the Western Balkans,[25] Iran[26][27] and China.[28][29]

Together with the World Bank,[30] the Institute regularly publishes the „Western Balkans Labor Market Trends“ report.[31][32][33][34]

International recognitionEdit

In the global think tank ranking of the University of Pennsylvania, in 2020 wiiw again scored third in the category "International Economic Policy Think Tanks", ranking only behind Bruegel (Belgium) and Brookings Institution (United States).[35] This category lists "top think tanks" that "provide outstanding innovative research and strategic analysis". The ranking is based on surveys of experts from academia, politics and NGOs as well as peer institutions. The first time wiiw was included in this global ranking of think tanks was in 2012. Since then, the Institute has steadily improved from rank 17 (2012) to 14 (2013), 12 (2014), 5 (2015), 4 (2016,[36] 2017, 2018) and 3 (2019, 2020).[37]

In 2020, nine wiiw economists once again received a total of 17 top-3 awards at the Focus Ecomics Analyst Forecast Awards for the forecast accuracy of their macroeconomic forecasts for Central, Eastern and Southeastern Europe.[38]

The Focus Economics Awards honour analysts for the accuracy of their monthly forecast reports. The accuracy is measured by their average deviations from the current values. Forecasts are assessed over a period of two years, so in this case forecasts for 2019 since the beginning of 2018 were taken into account. With a total of 17 top 3 awards, the wiiw forecasts for Central, Eastern and Southeastern Europe are in no way inferior to institutions such as Oxford Economics (17), Fitch Solutions (14) or Raiffeisen Bank (10).[38][4]

Areas of researchEdit

  • Central, Eastern and Southeastern Europe with a focus on European integration[39]
  • Macroeconomics, Analysis and Policy
  • Labour, Migration and Income Distribution
  • International Trade, Competitiveness and FDI
  • Regional Development
  • Sectoral Studies

[15]

ReferencesEdit

  1. ^ Dr. Hannes Swoboda new wiiw president. wiiw press release from 1 December 2015
  2. ^ Robert Stehrer was nominated new Scientific Director of wiiw. wiiw press release from 8 March 2016
  3. ^ "New Managing Director at wiiw" (PDF). The Vienna Institute for International Economic Studies. 2 April 2019.
  4. ^ a b c d Jahresbericht 2020 (annual report 2020) (PDF) (in German). The Vienna Institute for International Economic Studies (wiiw). 2021.
  5. ^ "Geschäftsbericht 2020 - Oesterreichische Nationalbank (OeNB)". www.oenb.at. Retrieved 2021-10-23.
  6. ^ christina.hiptmayr (2016-09-28). "Die Meinungsfabrikanten: Wirtschaftsforschungs-Institute im Check". profil.at (in German). Retrieved 2021-10-23.
  7. ^ "Geschäftsbericht 2020 - Oesterreichische Nationalbank (OeNB)". www.oenb.at. Retrieved 2021-10-23.
  8. ^ Delcheva, Marina. "Wirtschaftsforschung - Ruf nach mehr Unabhängigkeit". Wirtschaft Österreich - Wiener Zeitung Online (in German). Retrieved 2021-10-23.
  9. ^ "Notenbank streicht Wifo, IHS und WIIW ab 2023 fixe Finanzierung". DER STANDARD (in German). Retrieved 2021-10-23.
  10. ^ "profil - 2021-10-29". epaper.profil.at. Retrieved 2021-10-29.
  11. ^ ""Wenn der politische Druck unverschämt wird, dann lass ich es bleiben und geh auf die Universität"". www.falter.at. Retrieved 2021-10-29.
  12. ^ "Countries Overview". wiiw.ac.at. Retrieved 2021-10-22.
  13. ^ "Staatsschulden: Kommt nach der Krise das große Sparen in Europa?". DER STANDARD (in German). Retrieved 2021-10-29.
  14. ^ ingrid.steiner (2021-10-26). "Warum ausgrechnet die EU-Schuldenbekämpfer die Schuldenlatte höher legen". kurier.at (in German). Retrieved 2021-10-29.
  15. ^ a b "Research Areas". wiiw.ac.at. Retrieved 2021-10-22.
  16. ^ "Dr. Hannes Swoboda elected new wiiw President (news article)". wiiw.ac.at. Retrieved 2021-10-22.
  17. ^ "Economic Advisory Board". wiiw.ac.at. Retrieved 2021-10-22.
  18. ^ The Editorial Board (2019-11-28). "Europe needs its own Belt and Road Initiative". Financial Times. Retrieved 2021-10-22.
  19. ^ Auer, 20 10 2021 um 20:14 von Matthias (2021-10-20). "Der Aufschwung der Impfmuffel". Die Presse (in German). Retrieved 2021-10-22.
  20. ^ "Osteuropas Wirtschaft wächst und Österreichs Unternehmen winken Gewinne". DER STANDARD (in German). Retrieved 2021-10-22.
  21. ^ "Wachstum treibt Preise – auch bei Immobilien". kurier.at (in German). 2021-10-21. Retrieved 2021-10-22.
  22. ^ Online, Wiener Zeitung. "CEE-Konjunktur - Osteuropas Wirtschaft wächst stark". Wirtschaft International - Wiener Zeitung Online (in German). Retrieved 2021-10-22.
  23. ^ "ORF-Radiothek". oe1.orf.at. Retrieved 2021-10-22.
  24. ^ "Neue Wirtschaftsprognosen für Osteuropa". Ostexperte.de. 2021-10-25. Retrieved 2021-10-29.
  25. ^ Neue Zürcher Zeitung. https://www.nzz.ch/international/eu-westbalkan-neue-optionen-fuer-die-region-sind-notwendig-ld.1648741. Missing or empty |title= (help)
  26. ^ "'Iran's economy is closer than ever to collapse,' says expert". The Jerusalem Post | JPost.com. Retrieved 2021-10-22.
  27. ^ "Der Iran braucht einen Deal". DER STANDARD (in German). Retrieved 2021-10-22.
  28. ^ oe1.orf.at. "China bremsen - aber ohne Provokation | FR | 18 06 2021 | 13:00". oe1.orf.at (in German). Retrieved 2021-10-22.
  29. ^ "Interaktiv: Chinas weltweite Shoppingtour". Der Pragmaticus (in German). 2021-09-20. Retrieved 2021-10-22.
  30. ^ "Western Balkans Show Improved Labor Market Performance, but Challenges Remain for Women, Youth and Less Educated Workers (press release". World bank. March 19, 2019. Retrieved 20 October 2021.
  31. ^ "Western Balkans Labor Market Trends 2017". World Bank. Retrieved 2021-10-22.
  32. ^ Group, World Bank; Studies, Vienna Institute for International Economic (2018-03-16). "Western Balkans Labor Market Trends 2018". Cite journal requires |journal= (help)
  33. ^ "Western Balkans Labor Market Trends: 2019". World Bank. Retrieved 2021-10-22.
  34. ^ "ESAP Observatory | Western Balkans Labor Market Trends 2020". www.esap.online. Retrieved 2021-10-22.
  35. ^ McGann, James (2021-01-28). "2020 Global Go To Think Tank Index Report". TTCSP Global Go To Think Tank Index Reports.
  36. ^ "WIIW zählt zu den besten der Welt". DER STANDARD (in German). Retrieved 2021-10-23.
  37. ^ "TTCSP Global Go To Think Tank Index Reports | Think Tanks and Civil Societies Program (TTCSP) | University of Pennsylvania". repository.upenn.edu. Retrieved 2021-10-22.
  38. ^ a b creator (2016-04-04). "Best Economic Forecaster Awards". FocusEconomics | Economic Forecasts from the World's Leading Economists. Retrieved 2021-10-23.
  39. ^ "State of play : an overview of Europe-focused think tanks in the E.U. and E.U. Member States" (PDF). Jacques Delors Institute p46. Retrieved 20 October 2021.

External linksEdit

DataEdit

  • wiiw's economics databases
  • EU KLEMS Database on measures of economic growth, productivity, employment, capital formation, and technological change at the industry level for the EU, Japan, and the US