The European Union is the world's largest economic entity, yet its ability to design and implement effective economic policies is not commensurate with its size. While the field of economics has seen an impressive growth, the economic research remains fragmented across the Member States. Developing an efficient research area is essential for growth and to the process of European integration. However, a variety of informal barriers inhibit the free flow of research funding, as a result, the efficient allocation of R&D funding. Research grants can provide a viable tool to circumvent limits to integration and to enhance the exchange of ideas. However, if not designed correctly, research funding can also aggravate the initial problem. This proposal outlines how the European Economic Association will go about creating the COEURE (COoperation for EUropean Research in Economics) network, which will bring together key stakeholders in the European economic research space and funders of research. COEURE will launch a global process that will lead to the formulation of an Agenda for Research Funding for Economics in Europe (ARFEE). First the project involves taking stock of the current state of research in key sub-fields in economics to map out the research frontier and the activities of European researchers. It identifies key open research questions and suggests ways in which research on these issues should evolve, notably to better address the policy challenges that Europe is now facing. Second the project assesses the extent to which mechanisms for funding economic research in Europe have supported research at the frontier in the past, and suggests ways in which they might evolve in the future to support it more effectively. Third the project brings together stakeholders to formulate the ARFEE to ensure that Europe has the appropriate funding mechanisms and the coordination among them.
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