Nicolas Véron

Varieties of Protectionism

This month, the Paris-based Institute for Research and Debate on Governance published its yearly volume, Chroniques de la Gouvernance. I contributed a piece on differences in degrees of investment protectionism among Western countries, based on an earlier column.

To read the text: Download InstitutGouvernance_May08.pdf (in French only, presented below an article by Christian Chavagneux)

Something New on the Audit Front

In today's column, I analyse Ernst & Young's decision to merge its European operations into one single firm, which I see as a key step towards the overdue transformation of the Big Four global audit networks into consistent international business entities.

Download Tribune_080519_en.pdf to read the piece in English, and Download Tribune_080519.pdf as originally published in French.

Fair Value is the Wrong Scapegoat

This piece was published this week by Bruegel in its Policy Contributions series. I detail the arguments in the current policy debate about fair value accounting and again conclude that the problem lies with prudential regulations, such as Basel II, rather than accounting standards.

Download BruegelPolicyContribution_May08.pdf to read the paper. A French version is forthcoming in June in a joint issue of the Revue d'Economie Financière and Risques.

Global Companies' Wheel of Fortune

Today's column is devoted to the evolution over recent years of the FT Global 500 ranking of the world's largest listed companies. This analysis casts a dramatic light on emerging multinationals' fast ascendency on the global stage.

Download Tribune_080505_en.pdf to read the piece in English, and Download Tribune_080505.pdf as originally published in French.