Select recent publications
De-Risking the Global Financial System. Forging a 'New Consensus', Policy Paper, FES New York, 2023 (https://ny.fes.de/fileadmin/user_upload/EconomicFragmentation_v05_Digital.pdf)
'Fifty years on: what the Bretton Woods System can teach us about global macroeconomic policy-making', Oxford Review of Economic Policy, 39 (2), 2023 (with D. Vines)(https://academic.oup.com/oxrep/article/39/2/164/7113958)
'From the Bretton Woods system to the global non-system: the trials and tribulations of slow learning', Oxford Review of Economic Policy, 39 (2), 2023 (with D. Vines) (https://academic.oup.com/oxrep/article/39/2/195/7113966)
'Exorbitant privilege and fiscal autonomy', Oxford Review of Economic Policy, 39 (2), 2023 (with P. van den Noord) (https://academic.oup.com/oxrep/article/39/2/283/7113973)
'Debt Sustainability after the Pandemic: a Rift between Advanced and Developing Economies?', Proceedings of the 2nd Public Debt Management Conference, 2022 (with P. van den Noor and R. Olivares-Caminal) (https://www.publicdebtnet.org/export/sites/pdm/pdm/.galleries/attachments_gallery/focus_attachments/Proceedings-PDM-Conference-2022.pdf)
China and the Global Financial Architecture. Keeping Two Tracks on One Path, Policy Paper, FES New York, 2022 (http://library.fes.de/pdf-files/iez/19125.pdf)
‘Preventing Debt Crises’, L’Observateur des Nations Unies, Volume 53, 2022 (with R. Olivares-Caminal).
'The debt burden: why ex-post intervention shouldn’t be the default option', OECD Development Matters, Paris: OECD, 2021 (with R. Olivares-Caminal) (https://oecd-development-matters.org/2021/06/24/the-debt-burden-why-ex-post-intervention-shouldnt-be-the-default-option/)
‘From gold to Bitcoin and beyond’, Nature, Volume 597, 2021.
'An economic and monetary ‘experiment’ gone too far?’, Annals of the Fondazione Luigi Einaudi, LV (1) 2021 (https://www.annalsfondazioneluigieinaudi.it/images/LV/2021-2-007-Subacchi.pdf)
Recent books
The Cost of Free Money. How Unfettered Capital Threaten Our Economic Future, Yale University Press, July 2020 (https://www.yalebooks.co.uk/display.asp?K=9780300244045)
The People's Money. How China is Building a Global Currency, Columbia University Press, 2017 (https://cup.columbia.edu/book/the-peoples-money/9780231173469)
Project Syndicate
'Sustainably financing sustainable development', Project Syndicate, September 24, 2024 (https://www.project-syndicate.org/commentary/un-summit-of-the-future-how-to-finance-the-sdgs-by-paola-subacchi-2024-09)
'Financial sanctions need global governance', Project Syndicate, April 2, 2024 (https://www.project-syndicate.org/commentary/international-framework-governing-financial-sanctions-needed-by-paola-subacchi-and-rosa-m-lastra-2024-04)
'A growth agenda for the G20', Project Syndicate, July 22, 2024 (https://www.project-syndicate.org/commentary/south-africa-g20-agenda-should-unite-developed-and-developing-economies-behind-growth-by-paola-subacchi-2024-07)
'Cry for Milei's Argentina', Project Syndicate, November 29, 2023 (http://https//www.project-syndicate.org/commentary/javier-milei-victory-spells-trouble-for-argentina-economy-by-paola-subacchi-2023-11)
'The Italian Economy's Moment of Truth', Project Syndicate, June 8, 2023 (https://www.project-syndicate.org/commentary/italy-slowing-economy-growth-recovery-funds-must-boost-productivity-by-paola-subacchi-2023-06)
'The Great Global Crack-Up', Project Syndicate, March 8, 2023 (https://www.project-syndicate.org/commentary/global-economy-fragmentation-risks-driven-by-geopolitical-hostilities-by-paola-subacchi-2023-03)
'China's New Direction', Project Syndicate, January 6, 2023 (https://www.project-syndicate.org/onpoint/china-new-direction-under-xi-by-paola-subacchi-2023-01)
'Will Italy's Turmoil Push Europe Back to the Brink?', Project Syndicate, July 26, 2022 (https://www.project-syndicate.org/commentary/draghi-italy-resignation-could-fuel-eurozone-crisis-by-paola-subacchi-2022-07)
'How to Engage with China', Project Syndicate, May 27, 2022 (https://www.project-syndicate.org/commentary/us-china-cooperation-no-need-for-common-values-by-paola-subacchi-2022-05)
'Is the US Dollar's Global Hegemony at Risk?', Project Syndicate, May 5, 2022 (https://www.project-syndicate.org/bigpicture/is-the-us-dollar-s-global-hegemony-at-risk)
'The Ukraine War's Fallout', Project Syndicate, March 4, 2022 (https://www.project-syndicate.org/onpoint/ukraine-war-historical-implications-by-ps-editors-2022-03)
'Italy's Draghi Recovery at Risk', Project Syndicate, January 17, 2022 (https://www.project-syndicate.org/commentary/italy-presidential-election-economic-consequences-by-paola-subacchi-2022-01)
'The G20 Family Reunion', Project Syndicate, October 26, 2021 (https//www.project-syndicate.org/commentary/g20-summit-build-relationships-bring-china-back-into-the-fold-by-paola-subacchi-2021-10
'A Made-in-China Financial Crisis?', Project Syndicate, October 6, 2021 (https://www.project-syndicate.org/commentary/evergrande-bankruptcy-spillovers-trigger-global-financial-crisis-by-paola-subacchi-2021-10)
'From gold to Bitcoin and beyond', Nature, September 28, 2021 (https://www.nature.com/articles/d41586-021-02615-2)
'Barbados debt relief model is hard to extend to all power states', Financial Times, July 8, 2021 (https://www.ft.com/content/ef2f6603-66bb-47fe-83ba-fcbe5a61a5a1)
'In Bitcoin We Trust?', Project Syndicate, June 24, 2021 (https://www.project-syndicate.org/commentary/risks-of-el-salvador-adopting-bitcoin-by-paola-subacchi-2021-06 )
'China is changing the way money is lent to countries in need', Nikkei Asia, May 24, 2021 (https://asia.nikkei.com/Opinion/China-is-changing-the-way-money-is-lent-to-countries-in-need)
'Janet Yellen's New Financial Multilateralism', Project Syndicate, March 10, 2021 (https://www.project-syndicate.org/commentary/yellen-imf-new-sdr-allocation-by-paola-subacchi-2021-03 )
'Whatever It Takes in Italy?', Project Syndicate, February 8, 2021 (https://www.project-syndicate.org/commentary/mario-draghi-form-government-italy-by-paola-subacchi-2021-02)
'China's Debt Grip on Africa', Project Syndicate, January 15, 2021 (https://www.project-syndicate.org/commentary/covid19-africa-debt-relief-china-by-paola-subacchi-2021-01)
'A Good but Incomplete Start to Debt Relief', Project Syndicate, November 23, 2020 (https://www.project-syndicate.org/commentary/g20-common-framework-debt-restructuring-by-paola-subacchi-2020-11)
'Economics in a Post-Pandemic World', Project Syndicate, November 20, 2020 (https://www.project-syndicate.org/onpoint/making-economics-fit-for-purpose-by-paola-subacchi-2020-11)
'A COVID-19 debt shock in Asia?', EastAsiaForum, June 1, 2020 (https://www.eastasiaforum.org/2020/06/01/a-covid-19-debt-shock-in-asia/
'The Limits of Extreme COVID-19 Monetary Policy', Project Syndicate, May 29, 2020 (https://www.project-syndicate.org/commentary/limits-covid19-monetary-policy-by-paola-subacchi-2020-05)
'What the G20 must do', Project Syndicate, March 20, 2020 (https://www.project-syndicate.org/commentary/g20-covid19-global-response-by-paola-subacchi-2020-03)
'Italy's New Afflition', Project Syndicate, February 28, 2020 (https://www.project-syndicate.org/commentary/italy-coronavirus-economic-impact-by-paola-subacchi-2020-02)
Investing in women: what women-led businesses in Italy and the UK need (with Holly Lewis-Frayne and Roberta Rabellotti), policy report, Universita' di Pavia, Queen Mary University of London and E-Economics, January 2020 (http://www-3.unipv.it/wwwscpol/echo/open.php?id=1187)
'Locking China Out of the Dollar System', Project Syndicate, October 21, 2019 (https://www.project-syndicate.org/commentary/trump-china-trade-war-financial-flows-dollar-by-paola-subacchi-2019-10)
'Trump's Manipulation of Currency Manipulation', Project Syndicate, August 9, 2019 (https://www.project-syndicate.org/commentary/china-lacks-interest-in-weaker-renminbi-by-paola-subacchi-2019-08)
'Italy's risky silk road', Project Syndicate, March 20, 2019 (https://www.project-syndicate.org/bigpicture/xi-takes-rome)
'The road from Thatcherism', Project Syndicate, February 15, 2019 (https://www.project-syndicate.org/onpoint/the-road-from-thatcherism-by-paola-subacchi-2018-10?barrier=accesspaylog)
'Italy's Old New Populism', Project Syndicate, October 5, 2018 (https://www.project-syndicate.org/commentary/italy-populist-government-deficit-budget-by-paola-subacchi-2018-10)
'Hard Lessons from Genoa', Project Syndicate, August 21, 2018 (https://www.project-syndicate.org/commentary/morandi-bridge-collapse-reflects-distorted-incentives-by-paola-subacchi-2018-08)
'China's Currency Catch-22', Project Syndicate, July 19, 2018 (https://www.project-syndicate.org/commentary/china-renminbi-and-the-dollar-by-paola-subacchi-2018-07).
'The Central-Bank Song Remains the Same', Project Syndicate, April 10, 2018 (https://www.project-syndicate.org/commentary/central-bank-leadership-no-diversity-by-paola-subacchi-2018-04).
'The Electoral Fate of Italy's Banks', Project Syndicate, January 15, 2018 (https://www.project-syndicate.org/commentary/italy-banking-system-reform-election-by-paola-subacchi-2018-01?barrier=accessreg).
'Why the Renminbi Won't Rule', Project Syndicate, October 20, 2017 (https://www.project-syndicate.org/commentary/china-renminbi-internationalization-dollar-diplomacy-by-paola-subacchi-2017-10?barrier=accessreg).
'Saving the International Monetary Order', Project Syndicate, September 1, 2017 (https://www.project-syndicate.org/onpoint/saving-the-international-economic-order-by-paola-subacchi-2017-09?barrier=accessreg).
‘The G7’s Task for Restoring Growth and Stability’ (with Stephen Pickford), Istituto Affari Internazionali, Rome, March 2017.
The ‘Belt and Road’ Initiative and the London Market - the Next Steps in Renminbi Internationalisation (with Liu Dongmin, Gao Haihong, Xu Qiyuan, Li Yuanfang, Song Shuan, Matthew Oxenford) London: Chatham House, January 2017.
Managing Complexity. Economic Policy Cooperation after the Crisis, ed with Tamim Bayoumi and Stephen Pickford, Brookings Institution Press, 2016 http://www.brookings.edu/research/books/2015/managing-complexity
'Westminster's Squabbling is Making Brexit Worse', Foreign Policy, June 29, 2016 http://foreignpolicy.com/2016/06/29/westminster-squabbling-making-britain-poorer-brexit-economy/
'No Country for Young Men (and Women)', Project Syndicate, March 28, 2016 https://www.project-syndicate.org/commentary/italy-youth-unemployment-emigration-by-paola-subacchi-2016-03?barrier=true
'The Contradictions of Chinese Capitalism', Project Syndicate, 26 March 2016 https://www.project-syndicate.org/onpoint/on-the-contradictions-of-chinese-capitalism-by-paola-subacchi-2016-03?barrier=true
'China's ambiguous financial liberalisation', Financial Times, 3 February 2016.
'Europe's banks still too big to fail, but our new response remains to be tested', The Globe and Mail, 17 February 2016 http://www.theglobeandmail.com/report-on-business/rob-commentary/europes-banks-still-too-big-to-fail-but-our-new-response-remains-to-be-tested/article28769928/
'2016 Forecast: The Foils of Toxic Growth and Disparity', Foreign Policy, 22 January 2016 http://foreignpolicy.com/2016/01/22/2016-forecast-the-foils-of-toxic-growth-and-disparity-china-economy-market/
