policies

Policies to enhance Australia’s growth: A U.S. Perspective

Slow economic growth is a serious problem for some of the world’s largest advanced economies, the Great Recession contributing to the slowdown for several regions. Australia’s economic slowdown, however, was small in contrast to that suffered by other advanced economies as a result of the global recession. With an average 2.72 percent GDP growth over the…

      
 
 




policies

G20: From crisis management to policies for growth


Editor's Note: The paper is part of a book entitled, “The G8-G20 Relationship in Global Governance.”

Future global growth faces many challenges. The first is securing economic recovery from the global financial crisis and reviving strong growth. The euro area has experienced a double-dip recession. Growth remains subdued in other advanced economies. Emerging economies (including the BRICS countries of Brazil, Russia, India, China, and South Africa, as well as other major emerging economies) had been the driver of global growth, accounting for almost two thirds of global growth since 2008, but in 2013 they too were experiencing slowing growth. The second challenge is sustaining growth. Many countries have large and rising public debt, and face unsustainable debt dynamics (International Monetary Fund [IMF] 2012). Environmental stresses put the longer-term sustainability of growth at risk. The third challenge is promoting balanced growth. Large external imbalances between countries — China's surplus and the U.S. deficit being the most notable — put global economic stability at risk and give rise to protectionist pressures. Unemployment has reached high levels in many countries, and there are concerns about a jobless recovery. And economic inequality within countries has been rising. More than two thirds of the world's people live in countries where income inequality has risen in the past few decades.

Thus, promoting strong, sustainable, and balanced growth is central objective of the Group of 20 (G20). A core component of the G20 is the Working Group on the Framework for Strong, Sustainable, and Balanced Growth. Yet G20 policy actions since the onset of the global financial crisis in 2008 have focused mainly on short-term crisis response. Economic stabilization is necessary and risks to stability in the global economy, especially those in the euro area, call for firm actions to restore confidence. However, short-term stabilization only buys time and will not produce robust growth unless accompanied by structural reforms and investments that boost productivity and open new sources of growth. To be sure, several G20 members have announced or are implementing structural reforms. But the approach to strengthening the foundations for growth, meeting the jobs challenge, and assuring the longer-term sustainability of growth remains partial and piecemeal. Some elements of an approach are present, but the unrealized potential for a coherent and coordinated strategy and effort is significant. The G20 needs to move beyond a predominately short-term crisis management role to focus more on the longer-term agenda for strong, sustainable, and balanced growth. 

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policies

Focusing on organizational culture—not just policies—can reduce teacher absenteeism

The Brown Center Chalkboard recently published an important article on a little-appreciated crisis in our public schools: The chronic teacher absenteeism that costs public schools billions of dollars and millions of hours of effective teaching and lost learning each year. The article reported that, on average, 29% of teachers in the 2015-16 school year were…

       




policies

School policies and the success of advantaged and disadvantaged students

executive summary We make use of matched birth-school administrative data from Florida, coupled with an extensive survey of instructional policies and practices, to observe which policies and practices are associated with improved test performance for relatively advantaged students in a school, for relatively disadvantaged students in a school, for both, and for neither.  We consider…

       




policies

What macroprudential policies are countries using to help their economies through the COVID-19 crisis?

Countries around the world are reeling from the health threat and economic and financial fallout from COVID-19. Legislatures are responding with massive relief programs. Central banks have lowered interest rates and opened lender-of-last-resort spigots to support the flow of credit and maintain financial market functioning. Authorities are also deploying macroprudential policies, many of them developed…

       




policies

Policies to improve family stability

On Feb. 25, 2020, Rashawn Ray, a David M. Rubenstein Fellow at The Brookings Institution, testified before Congress's Joint Economic Committee in a hearing titled “Improving Family Stability for the Wellbeing of American Children.” Ray used his testimony to brief lawmakers on the recent trends in family formation and stability, the best ways to interpret…

       




policies

Africa in the news: New environmental policies on the continent, Zimbabwe’s IMF stabilization program, and Sudan update

Tanzania, Kenya, and UNECA enact environment-positive policies and programs On Saturday, June 1, Tanzania’s ban on plastic bags went into effect. According to The Citizen, the new law targets the “import, export, manufacturing, sale, storage, supply, and use of plastic carrier bags regardless of their thickness” on the Tanzanian mainland. The law also bans the…

       




policies

The Trump administration’s policies toward Taiwan

It is a great pleasure to speak to you today, at this event sponsored by Taipei Forum.1 I’m deeply grateful to my Columbia tongxue Su Chi for inviting me. It’s wonderful to see so many long-time friends. Thank you for coming today. I just arrived in Taipei yesterday evening. I am pretty confident that I…

       




policies

Policies and payoffs to addressing America’s college graduation deficit

SUMMARY Christopher Avery, Jessica Howell, Matea Pender, and Bruce Sacerdote, analyze state policies to increase four-year college completion rates, concluding that increased spending at all public colleges and targeted elimination of tuition and fees at four-year public colleges for income-eligible students are the most cost-effective options, while free community college is the least effective—finding it…

       




policies

The Need for Regional Anti-Congestion Policies

Traffic congestion is essentially a regional phenomenon requiring regional approaches to mitigate its impacts. This brief examines the governance options necessary to act regionally and the conditions required to implement such policies. Currently, the reauthorization of the federal transportation spending bill (TEA-21) presents a unique opportunity to build on previous reforms and increase the decision-making…

       




policies

Social Entrepreneurship in the Middle East: Advancing Youth Innovation and Development through Better Policies

On April 28, the Middle East Youth Initiative and Silatech discussed a new report titled “Social Entrepreneurship in the Middle East: Toward Sustainable Development for the Next Generation.” The report is the first in-depth study of its kind addressing the state of social entrepreneurship and social investment in the Middle East and its potential for the…

       




policies

The effect of COVID-19 and disease suppression policies on labor markets: A preliminary analysis of the data

World leaders are deliberating when and how to re-open business operations amidst considerable uncertainty as to the economic consequences of the coronavirus. One pressing question is whether or not countries that have remained relatively open have managed to escape at least some of the economic harm, and whether that harm is related to the spread…

       




policies

Simulating the effects of tobacco retail restriction policies

Tobacco use remains the single largest preventable cause of death and disease in the United States, killing more than 480,000 Americans each year and incurring over $300 billion per year in costs for direct medical care and lost productivity. In addition, of all cigarettes sold in the U.S. in 2016, 35% were menthol cigarettes, which…

       




policies

Development of a computational modeling laboratory for examining tobacco control policies: Tobacco Town

       




policies

Simulating the effects of tobacco retail restriction policies

Tobacco use remains the single largest preventable cause of death and disease in the United States, killing more than 480,000 Americans each year and incurring over $300 billion per year in costs for direct medical care and lost productivity. In addition, of all cigarettes sold in the U.S. in 2016, 35% were menthol cigarettes, which…

       




policies

Development of a computational modeling laboratory for examining tobacco control policies: Tobacco Town

       




policies

Refugees: Why Seeking Asylum is Legal and Australia’s Policies are Not

      
 
 




policies

Does decarbonization mean de-coalification? Discussing carbon reduction policies

In September, the Energy Security and Climate Initiative (ESCI) at Brookings held the third meeting of its Coal Task Force (CTF), during which participants discussed the dynamics of three carbon policy instruments: performance standards, cap and trade, and a carbon tax. The dialogue revolved around lessons learned from implementing these policy mechanisms, especially as they…

       




policies

The case for 'race-conscious' policies


The injustices faced by African Americans are high on the nation’s agenda. “Black Lives Matter” has become a rallying cry that has elicited intense feelings among both supporters and detractors. As William Julius Wilson has pointed out on this blog, the focus on policing and criminal justice is necessary but not sufficient. Concerted action is required to tackle systematic racial gaps in everything from income and wealth to employment rates, poverty rates, and educational achievement.

The moral argument for reparations

Ta-Nehisi Coates argues that financial reparations should be paid to all those who have suffered directly or indirectly from slavery and its aftermath, including present day injustices such as the targeting of subprime mortgages to minorities. The moral case is compelling, and Coates notes that there have been other instances in U.S. history when reparations have been paid—such as to some Native American tribes and to the Japanese-Americans thrown into internment camps during World War II.

Even if the moral argument for reparations is won, there are formidable obstacles in terms of policy, politics, and law. How would reparations work in practice? To be fair, Coates does support the bill from Congressman John Conyers establishing a commission to examine precisely these questions. Even if a workable policy can be found, the political opposition would, to put it mildly, be formidable. There are also doubts about constitutional legality. However, these are certainly questions worthy of better answers than the ones currently being made.

Race-conscious policy

Reparations are a stark example of a race-based policy: targeting resources or an intervention at an explicitly-defined racial group. At the other extreme are “race-blind” policies, applied with no regard to race (at least in theory). But there is a middle ground, consisting of what might be labeled ‘race-conscious’ policies. These policies would be designed to close racial gaps without targeting racial groups.

Bonds, jobs, tax credits: examples of race-conscious policies

What might race-conscious policies look like? Here are some ideas:

  1. Professors William Darity at Duke and Darrick Hamilton of The New School propose to tackle race gaps in wealth by providing “baby bonds” to children born to families with limited wealth. In 2013, median net worth was $11,000 for black households compared to $141,900 for whites. Darity and Hamilton are supporters of reparations in principle, but are alert to policy and political feasibility. Their specific proposal is that every baby born into a family with below-median wealth receives a “baby bond” or trust fund. These would be worth $50,000 to $60,000 on average, but scaled according to the level of the family’s wealth. The money would be available at the age of 18 for certain expenditures such as paying for college or buying a home. This is a good example of a race-conscious policy. It is not explicitly targeted on race but it would have its greatest impact on African American families.
  2. While racial wealth gaps are large and troubling, the disappearance of almost half of unskilled, young black men from the labor force may be an even greater problem in the long run. A comprehensive approach on jobs could include raising the minimum wage, expanding the EITC, and providing subsidized jobs in either the public or private sector for those unable to find jobs on their own. The job subsidies might be targeted on young adults from high-poverty neighborhoods where joblessness is endemic. The subsidized jobs would help people of all races, but especially African Americans. A jobs-based program is also likely to find greater political support than straightforward wealth redistribution. Granted, such jobs programs are hard to administer, but we now have a large number of workers whose job prospects are slim to nonexistent in a technologically-oriented and service-based economy.
  3. An enhanced EITC could also help to increase wealth (or lower indebtedness). As Kathryn Edin and her colleagues note in It’s Not Like I’m Poor, the EITC is normally received as a lump sum refund at the end of the year. As a form of forced saving, it enables poor families to repay debt and make mobility enhancing investments in themselves or their children. According to Edin, recipients like the fact that, unlike welfare, the tax credit links them socially and psychologically to other Americans who receive tax refunds. A more generous EITC could therefore help on the wealth as well as income side, and narrow racial gaps in both.
  4. A final example of a race-conscious policy is the Texas “top 10” law, which guarantees admission to any public university in the state for students in the top 10 percent of their high school class. This plan could be expanded to other states.

Taking race seriously

The “Black Lives Matter” movement has refocused the nation’s attention on mass incarceration and related injustices in the criminal justice system. But this problem exists side by side with racial inequalities in income, wealth, education, and employment. There are no easy answers to America’s stubborn race gaps. But jobs and wages seem to us to be of paramount importance. Implemented in a race-conscious way (by targeting them to areas suffering from high rates of poverty and joblessness), employment policy might be the most powerful instrument of all for race equality.

Image Source: © Christopher Aluka Berry / Reu
     
 
 




policies

11 outdoor gear companies with great repair or return policies

It's a sign of quality when companies are willing to stand by the goods they sell.




policies

3 climate change policies that no one's talking about

The U.N. just came up with some climate change solutions, and none of them are "expect techy solutions to pull us out."




policies

Apple, Google, Facebook lead in clean energy and policies says latest Greenpeace report

But Amazon has some work to do.




policies

Slovak Republic: Fostering an inclusive job-rich recovery - OECD Better Policies Series

The Slovak Republic is one of the most dynamic economies in the euro area. The country has continued to converge rapidly towards the living standards of advanced OECD economies. However, the Slovak Republic should continue on its path of reform to achieve balanced, fair and sustainable growth, according to a new OECD report.




policies

OECD Review of Policies to Improve the Effectiveness of Resource use in Schools - Slovak Republic Country Background Report (English)

This report was prepared by the Educational Policy Institute, Ministry of Education, Science, Research and Sport of the Slovak Republic, as an input to the OECD Review of Policies to Improve the Effectiveness of Resource Use in Schools (School Resources Review).




policies

Family-friendly policies a key driver of economic growth

The family-friendly policies introduced by Nordic countries over the past 50 years and associated increases in female employment have boosted growth in GDP per capita by between 10% and 20%, according to a new OECD report.




policies

Russia: Modernising the economy - Better Policies Series (April 2013)

Drawing on experiences in OECD countries and in our key partners, this report presents an OECD view of major policy challenges in Russia, including the fiscal framework, financial sector, competition, business climate, governance of public enterprises, innovation, trade, social policies, employment, education, health, energy, agriculture and green policies.




policies

Cities: green policies can contribute to growth

Cities can generate growth and jobs while becoming greener – this is the message of the OECD’s new Green Growth in Cities report. Drawing on case studies of Paris, Chicago, Kitakyushu and Stockholm, the report identifies green policies that can respond to urban growth priorities and suggests how to implement and finance them.




policies

Business Innovation Policies: Selected Country Comparisons

This study examines trends in and key features of policies and programmes used by governments to support innovation in the business sector.




policies

Canada is adjusting to the end of the commodities boom, but new policies are needed to boost productivity and reduce financial stability risks

The Canadian economy is adjusting to the fall in commodity prices, but additional policies are needed to boost productivity, reduce financial stability risks and make future growth stronger, greener and more inclusive, according to a new OECD report.




policies

The Netherlands should strengthen policies to attract and retain migrant skilled workers

The Netherlands should improve its policies to attract and retain highly skilled migrants in order to address labour shortages and strengthen its position as a knowledge-based economy, according to a new OECD report.




policies

Reforming policies for the business sector to harvest the benefits of globalisation in the Netherlands

The Netherlands has strongly benefited from globalisation, which boosted international trade, cross-border investment and economic growth over the latest decades.




policies

Measuring Fiscal Decentralisation, Concepts and Policies

This book deals with two issues. The first concerns the various measurement of fiscal decentralization in general and their usefulness for policy analysis. The second and more specific issue concerns the taxonomy of intergovernmental grants and the limits of the current classifications.




policies

Designing Skill-Friendly Tax Policies

The tax code can affect incentives to invest in education and training by influencing the costs and benefits of these investments. This can be the case for individuals through the income taxes and social security contributions they pay, and for companies through their corporate taxes and employer social security contributions.




policies

OECD releases IT-tools to support exchange of tax information policies

Today, the OECD has released updated and new IT-tools and guidance to support the technical implementation of the exchange of tax information under the Common Reporting Standard (CRS), on Country-by-Country Reporting (CbC) and in relation to tax rulings (ETR).




policies

Tax and fiscal policies central to governments’ responses to Covid-19 crisis

With global economic activity facing a historic drop and government spending rising dramatically, the implications of the Covid-19 crisis on public finances and tax revenues are significant.




policies

Kyrgyzstan must implement anti-corruption policies and laws to reduce corruption

Widespread corruption continues to be a major challenge for Kyrgyzstan’s development, despite efforts to streamline its anti-corruption policy and strengthen the institutional framework since 2012.




policies

COP22 session on enabling policies for green investment and development

9 November 2016, Marrakesh - This COP22 side event will focus on the role of policies and domestic enabling conditions to encourage private investment in green infrastructure in developing countries, drawing on lessons learned from country-specific experiences in Jordan and Viet Nam.




policies

Policies for Bioplastics in the Context of a Bioeconomy

This paper explores the development of the bioplastics sector and its role in national bioeconomy strategies. It finds that bioplastics are at a disadvantage compared to some other biobased products, notably biofuels, that often benefit from preferential treatment. It also notes that greater efforts are needed at the international level as regards standards to avoid creating barriers to international trade in biobased products.




policies

Mental Health and Work - Achieving Well-integrated Policies and Service Delivery (OECD Social, Employment and Migration Working Papers No. 161)

Improving labour market participation of people with mental health problems requires well-integrated policies and services across the education, employment, health and social sectors. This paper provides examples of policy initiatives from 10 OECD countries for integrated services.




policies

Pharmaceutical Expenditure and Policies: Past Trends and Future Challenges

This paper looks at recent trends in pharmaceutical spending across OECD countries. It examines the drivers of recent spending trends, highlighting differences across therapeutic classes, and then looks at emerging challenges for policy makers in the management of pharmaceutical spending.




policies

Healthier lifestyles and better health policies drive life expectancy gains

Healthier lifestyles, higher incomes and better education have all contributed to boost life expectancy in recent decades. Better health care has also helped, according to a new OECD report.




policies

Cities: green policies can contribute to growth

Cities can generate growth and jobs while becoming greener – this is the message of the OECD’s new Green Growth in Cities report. Drawing on case studies of Paris, Chicago, Kitakyushu and Stockholm, the report identifies green policies that can respond to urban growth priorities and suggests how to implement and finance them.




policies

Japan should reform retirement policies to meet challenge of ageing workforce

Japan must improve job quality and further reform the mandatory retirement age to address upfront the challenges of its rapidly ageing and shrinking labour force, according to a new OECD report.




policies

Japan’s agro-food sector would benefit greatly from policies to boost innovation, entrepreneurship and sustainable resource use

Japan’s agriculture sector has traditionally been characterised by small-scale rice production, but has recently begun to respond to new market opportunities for higher value food products across a rapidly growing East Asia. Today, rice represents less than 20% of the value of agriculture production, and larger, more productive, and more profitable farm businesses now account for more than half of total agriculture output.




policies

How do policies influence GDP tail risks?

This paper explores the relationship between policy settings and extreme positive and negative growth events, what we call GDP tail risks, using quantile regression methods.




policies

Design policies to ensure growth is socially inclusive, says OECD-World Bank report

Economic policy should be better designed to bring about more inclusive growth, ensuring that the benefits of increased prosperity are shared more evenly across society, according to a new report from the OECD and the World Bank.




policies

Towards green growth in Denmark: improving energy and climate change policies

Denmark’s green growth strategy focuses on moving the energy system away from fossil fuels and investing in green technologies, while limiting greenhouse gas (GHG) emissions.




policies

Climate change policies in Germany: make ambition pay

Germany reduced greenhouse gas emissions substantially but remains an important emitter. Ambitious targets for climate change mitigation have been fixed and a broad range of environmental measures are being implemented.




policies

India: Sustaining high and inclusive growth - Better Policies Series

Renewed impetus for reforms is essential for India to continue to narrow its major gap in living standards with middle-income and OECD economies, to reduce widespread poverty, to reverse rising inequality and to improve the wellbeing of all Indians. Based on the expertise of OECD, this report presents an update of policy advice in critical areas to India’s long-term economic performance and social development.




policies

New SME policies needed to boost Latin America's growth, say OECD and ECLAC

Latin American governments must act now to strengthen growth and development and counter these risks, according to the 2013 Latin American Economic Outlook, jointly produced by the OECD Development Centre and ECLAC.