The present invention relates to coating compositions containing a polymeric or copolymeric levelling agent, which has been prepared by nitroxyl-mediated polymerisation. Further aspects are a process for the preparation of smooth surface coatings and the use of said polymer or copolymer as levelling agent in coating compositions. Yet another aspect are specific ethylenically unsaturated monomer compositions from which copolymers can be obtained by atom transfer radical polymerisation or nitroxyl mediated polymerisation, which copolymers are useful as levelling agents in coating compositions. Still another aspect is the use of poly-tert.-butyl acrylate or poly-tert.butylmethacrylate as a levelling agent in powder coating compositions.