Angel Gurría, Secretary-General of the OECD congratulated the newly elected President of Indonesia, Joko Widodo, for taking a bold first step in his economic reform agenda by substantially cutting fuel subsidies.

Structural transformation towards a more knowledge-based economy will strengthen Spain’s medium-term growth prospects. To deal with long standing impediments to higher growth the government has a substantial structural reform programme touching on education, the labour market and the business environment.

While past labour market reforms have been successful in terms of employment, the relative poverty risk and income inequality have remained broadly unchanged in recent years.

In a majority of OECD countries, GDP growth over the past three decades has been associated with growing income disparities. To shed some lights on the potential sources of trade-offs between growth and equity, this paper investigates the long-run impact of structural reforms on GDP per capita and household income distribution.

Norway has taken some good initiatives to combat money laundering and terrorist financing, but needs to establish overarching policies and strategies, and address significant weaknesses in a number of key areas, according to a new report by the Financial Action Task Force.

Beyond usual determinants of trade such as GDP, distance, contiguity, free trade areas and language, this analysis mainly focuses on the role of product market regulation stringency and heterogeneity, and on the role of employment protection.

The Colombian economy has done remarkably well over the last decade, consistently ranking among the fastest-growing countries in Latin America, but a comprehensive tax reform that promotes investment and diversifies the economy is now needed to put the country on a path toward stronger, sustainable and inclusive growth, according to the latest OECD Economic Survey of Colombia.

The OECD and the Government of Kazakhstan are signing today in Davos a Memorandum of Understanding on a two-year Country Programme, which will support an ambitious set of reforms of Kazakhstan’s policies and institutions.

The Secretary-General of the OECD was in Tallinn on 28 January to launch the Economic Survey of Estonia 2015.

Economic participation of women in the labour force or as entrepreneurs is low compared to peers and has declined over the past decades despite strong growth. The gap with men is over 50% - the largest among key emerging markets.

Determined and systemic action to implement a comprehensive reform agenda across a wide range of policy areas offers governments the best chance to boost weak demand, restore healthy economic growth, create jobs and ensure that the gains are broadly shared across society, according to the OECD’s latest Going for Growth report.

We therefore need a “copernician” change in our approach to the growth – inequality nexus: let’s not think growth first, and inequality thereafter but let’s consider both of them, together, in their circularity. In other words, let’s think “Inclusive Growth”, right from the start, and let’s make it another touchstone of our efforts and complement the Pittsburgh tryptic of strong, sustainable and balanced growth!

As other high-income countries, Spain has experienced competitive pressures from China and other emerging economies that have resulted in a loss of global market share.

Cambiare il quadro politico-istituzionale in Italia è fondamentale per garantire che le ambiziose riforme in corso rilancino la crescita e aumentino la qualità della vita, secondo un nuovo rapporto dell’OCSE.

The labour market in Russia is very flexible. This results in a high and stable overall employment rate, but also high wage inequality, informality and labour turnover, which limits incentives for firms to invest in human capital and productivity improvements.

Tunisia has made great strides since 2011 towards greater inclusivity and fairness in its political system, based on the rule of law, transparency and good governance.

Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.

After three decades of extraordinary economic development, China is shifting to a slower and more sustainable growth path. Further reforms are now needed to ensure that future growth is resilient, inclusive and green, according to the OECD’s latest Economic Survey of China.

The Indonesian economy has enjoyed strong and stable growth over the past decade and a half, leading to impressive reductions in poverty and major improvements in living standards. But challenges remain to continue to converge towards higher-income countries, according to the latest OECD Economic Survey of Indonesia.

Luxembourg weathered the global economic crisis well, but must take additional steps to foster the diversification of the economy while ensuring the continuing health of its financial sector, according to the latest OECD Economic Survey of Luxembourg.

The Swedish economy has been among the most resilient in Europe, despite the slow global recovery and high uncertainty, but challenges remain if it is to maintain high growth and well-being and extend prosperity to all, according to the latest OECD Economic Survey of Sweden.

Russia faces very large challenges in modernising its large transport system. Promoting competition in the transport sector is essential, in particular by effectively opening the railway freight market to independent operators.

Reforming and deregulating the domestically oriented sectors, including network industries, crafts and professional services would release hidden growth potential and prove beneficial to the economy as a whole. It could also help strengthen domestic demand and reduce dependence on exports.

This paper investigates patterns in product market regulation across 34 OECD and 21 non-OECD countries, using an updated and revised version of the OECD’s indicators of product market regulation (PMR).

The Japanese economy is on a path to stronger growth, but fundamental structural reforms are urgently needed to promote a more robust recovery, address high levels of government debt and reverse a trend toward declining living standards, according to the latest OECD Economic Survey of Japan.

Small and medium-sized enterprises (SMEs) are fundamental for inclusive growth and jobs, but they need to broaden their sources of finance in order to reduce their vulnerability to volatile credit market developments, according to two new OECD reports.

In his speech delivered at the Brookings Institute, OECD Secretary-General Gurría explains that OECD’s numbers tell a clear-cut story of how our traditional economic growth agenda has neglected inclusiveness. Yet to begin to tackle this problem, we have to understand that inequality is not just about money. It touches every area of people’s lives.

The education system has reacted slowly to changes in labour market needs, leading to an increasing number of school leavers without sufficient qualification. In addition, declining PISA scores and a rising share of low achievers are raising concerns about the quality of the future labour force.

Financial crises do more than impose huge costs: they have bigger and more insidious effects. We face big challenges in maintaining the supply of global public goods as the world integrates. But these challenges will not be managed successfully if we do not first overcome the legacy of the crisis.

Housing conditions in Belgium are among the best in OECD countries according to the Better Life Index, as dwellings are of high quality and large, and housing costs are average.

With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.

This paper aims at gauging the skills and knowledge gap of tertiary graduates of universities and vocational colleges across China. It also looks at the employment and wage prospects of graduates with different educational backgrounds.

This paper first decomposes labour productivity growth over 2000-11 into a within-industry, a shift and a cross effect in a number of countries and compares China with other countries over this period. This shift-share analysis also allows a comparison of within-sector productivity gains across a large number of sectors and countries.

Colombia is one of the most unequal countries in Latin America. The high level of informality in the labour market and many characteristics of the pension system leave many elderly in poverty. Only formal-sector employees earning more than the relatively high minimum wage are covered.

In Indonesia, the pressure on the environment that natural resource exploitation is creating should be addressed by increasing the share of gas and renewables in the energy mix, properly defining property rights and regulations regarding forest land, and implementing a positive implicit carbon price. More resources should be devoted to combating widespread illegal mining and deforestation.

Educational outcomes could be improved through raising the attractiveness of the teacher profession, improving teacher education and increasing support for struggling students. A more flexible labour market would facilitate access to jobs for youth with low qualifications and immigrants.

The report discusses the changes in perspective and changes in the OECD’s analysis, instruments and tools that are required to gear the OECD towards addressing future challenges in an increasingly interconnected and complex global economy. It maps the policy trade-offs and complementarities and discusses the policy implications and recommendations deriving from NAEC projects to support an inclusive and sustainable growth agenda.

The OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work.

Finance is a key ingredient of modern economies, but too much finance may hamper economic growth and worsen income inequality, according to new research from the OECD.

The current low interest rate environment poses a significant risk for the long-term financial viability of pension funds and insurance companies, as they seek to generate sufficient returns to meet promises, according to a new OECD report.

Important reforms have been implemented which raised credibility of Slovenia in the financial markets and boosted confidence. But economic recovery has been sluggish, many people are unemployed and living standards still remain below the pre-crisis levels.

South Africa has made impressive social progress over the past two decades, lifting millions of people out of poverty and broadening access to essential services like water, electricity and sanitation.

Indonesia has a very good record of poverty reduction, having halved its incidence over the past two decades. Nevertheless, almost 30 million people still live below the national poverty line, mostly in rural areas and in certain provinces.

Since 1995 when OECD began conducting Economic Surveys of the Russian Federation many policy recommendations relating to structural reform and framework conditions have been made.

This paper examines the use of two forms of non-standard work contracts in Russia with data from an enterprise survey for the years 2009 to 2011. Non-standard work contracts are less costly and more flexible for employers. Internal adjustment in form of wage cuts or unpaid leave is not covered by the Labour Code and earlier practices to impose such measures are less tolerated.

Much of the convergence of the Latvian economy needs to come from productivity increases. To achieve this, policy makers should do more to facilitate the integration of the economy into global trade and promote competitive business environment.

New Zealand generally performs well in terms of economic and social inclusion. It has high employment rates, and education and health-care systems work well for most.

Innovation is key to boosting economic growth in the face of a rapidly ageing population. While Japan spends heavily on education and R&D, appropriate framework conditions are essential to increase the return on such investments by strengthening competition, both domestic and international, and improving resource allocation.

This paper analyses the characteristics of firms that operate at the global productivity frontier and their relationship with other firms in the economy, focusing on the diffusion of global productivity gains and the policies that faciliate it.

Over the past decade, France has substantially eased the burden of anti competitive regulations and effectively enforced competition law against anti-competitive practices.