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Going for Growth and Balance in Europe

Over the last four years we have lived and worked under the impact of the greatest economic crisis of our lifetimes. Recent actions in Europe have cleared a bit the fog but the confidence in the markets is still shaky and the long-term growth perspective of Europe is muted.




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Economy: Bigger euro bailout fund needed to create space to boost growth, OECD says

Euro area finance ministers meeting this week need to boost the firepower of the European stability funds to at least one trillion euros in order to restore market confidence, OECD Secretary-General Angel Gurría said today.




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Economy: Further reform needed to raise growth prospects in Poland

Poland has been a strong performer across the OECD through the global economic crisis, growing much faster than most other countries and making impressive steps toward reducing the income gap with its European Union partners, according to the OECD’s latest economic survey.




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Further reforms needed to sustain Korean growth and social cohesion

Korea recovered faster and more vigorously from the global crisis than most OECD countries, but strong economic growth alone will not be enough to address the fundamental challenges posed by its rapidly ageing population and rising inequality, according to the latest Economic Survey of Korea.




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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.




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Achieving the “low carbon, green growth” vision in Korea

Korea, which has had the highest growth rate of greenhouse gas emissions in the OECD area since 1990, adopted an ambitious Green Growth Strategy in 2009.




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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.




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Sluggish productivity growth in Denmark: the usual suspects?

Despite sound policies and institutions, Danish productivity has grown modestly over the past decade, both historically and in relation to other countries, contributing to weak economic growth and an erosion in competitiveness.




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Restarting the growth engine in Finland

Impressive productivity performance during the last decades has weakened since 2007, reflecting the 2008-09 recession but also a poor performance in important sectors, like the information and communication technology sector.




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Structural reforms to boost Turkey’s long-term growth

Turkey can achieve strong sustainable growth and job creation but further reforms in the labour market, education and product markets are required for such gains to materialise.




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Intangible assets, resource allocation and growth: a framework for analysis

This paper explores the growing importance of intangible assets as a potential source of innovation and productivity gains, and the contribution of efficient resource allocation to this process.




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Canada: Tertiary education: developing skills for innovation and l-t growth

The tertiary education system in Canada performs well in fostering a skilled workforce with generally good labour market outcomes and is internationally recognised for its research contributions.




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Indonesia should improve governance, productivity and tax collection to promote inclusive growth

Indonesia has improved its macro-economic and structural policies over the last 15 years. Its economy, with strong and stable growth rates of 5–6.6%, is catching up with other countries in the region and allowing Indonesia to focus on its development agenda.




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Quarterly National Accounts - Contributions to GDP growth - Second quarter 2012, OECD

Real GDP growth in the OECD area slowed to 0.2% in the second quarter of 2012, compared with 0.4% in the first quarter.




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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.




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Portugal: rebalancing the economy and returning to growth through job creation and better capital allocation

Low growth and huge current account deficits have characterised the Portuguese economy over the past decade.




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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.




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UK: Boosting growth and tackling inequality are key to recovery

Britain must continue to pursue pro-growth, as well as inequality-reducing structural reforms in order to recover from the nation’s deepest recession in nearly a century, according to a new OECD report.




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Labour market and social policies to foster more inclusive growth in Sweden

Sweden is a very egalitarian country but inequalities have risen and some groups are poorly integrated into the labour market.




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Housing, financial and capital taxation policies to ensure robust growth in Sweden

Extensive structural reforms since the early 1990s have strengthened the resilience of the Swedish economy to shocks.




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Speeding up reforms will foster more inclusive and greener growth in China

China has made tremendous progress toward achieving inclusive growth, but major reforms are needed to ensure a fourth decade of rapidly converging living standards and a greener economy, according to the OECD’s latest Economic Survey of China.




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Stepping up the pace of reform and fostering greener and more inclusive growth in China

China’s new leadership has signalled that it is time to step up the pace of reform, building on the remarkable economic and social achievements to date while recognising the pressing need for deep structural changes. Indeed, far-reaching reforms are necessary for continuing to raise living standards and well-being, even as China is poised to become the world’s largest economy by around 2016.




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Together We Stand: Inclusive Growth

Our economic growth models have not equitably distribute benefits. Inequalities were brewing under the surface prior to 2007 and increased almost everywhere even during periods of sustained economic growth. We need to reverse this trend, said OECD Secretary-General.




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Green Growth Knowledge Platform 2013 annual conference

The GGKP’s second annual conference will be held at the OECD Headquarters in Paris on 4-5 April 2013. The discussion will be framed around two headline themes: Greening global value chains and Measurement and reporting for green growth.




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How to get it right: government balances, growth and income inequality

Austerity programmes to restore order to public finances can add to the woes of already struggling economies, leading to more job losses and social hardship. But there are ways for governments to put their fiscal houses in order, while supporting growth and reducing income inequality at the same time.




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Portugal: Reforming the State to promote growth

After two decades of strong economic growth and convergence in living standards towards the levels of more prosperous OECD countries, Portugal’s performance weakened in the 2000s, productivity growth slowed and competitiveness deteriorated. Restoring Portugal’s potential for strong, inclusive growth calls for a comprehensive reform of the State.




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R&D, patenting and growth: the role of public policy

This paper uses panel regression techniques to assess the policy determinants of private sector innovative Activity – proxied by R&D expenditure and the number of new patents – across 19 OECD countries. The relationship between innovation indicators and multifactor productivity (MFP) growth is also examined with a particular focus on the role of public policies in influencing the returns to new knowledge.




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New approach to globalisation and global value chains needed to boost growth and jobs, says OECD

Technological advances, less costly shipping and trade liberalisation have transformed the way in which companies make products and distribute them worldwide. Governments that become more open to trade and investment, and encourage innovation will help firms better integrate the global value chains that are driving growth in increasingly interconnected economies, according to new OECD research.




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Inequality and poverty in the United States: public policies for inclusive growth

Income inequality and relative poverty in the United States are among the highest in the OECD and have substantially increased over the past decades. These developments have been associated with a number of other worrying statistics, including low intergenerational social mobility and weak real income growth for many households.




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Challenges to sustain Poland’s growth model

Notwithstanding a very strong economic performance over the past decade or so, Poland’s per capita income is substantially lower in comparison with the United States and per capita income growth will be sharply slowing down over the coming decades under the scenario of gradual policy changes mostly because of population ageing.




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Better civil justice systems can boost investment, competition, innovation and growth, OECD says

Well-functioning judicial systems play a crucial role in determining economic performance – notably by guaranteeing the security of property rights and the enforcement of contracts – but not all countries’ judiciaries operate at the same level of efficiency.




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Greening growth in Luxembourg

With strong economic growth overall and an increasingly important role as a regional economic centre, Luxembourg is experiencing mounting environmental pressures. This is mainly a result of a growing population and a rapid increase in transport, which is dominated by the car, as the number of workers commuting within Luxembourg and from across the border has risen rapidly.




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Choosing fiscal consolidation instruments compatible with growth and equity

This study proposes a structured approach to selecting instruments of fiscal consolidation that are consistent with growth, equity and global-rebalancing objectives, which is then illustrated with a particular application.




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Labour market policies to promote growth and social cohesion in Korea

Labour market reform to improve growth prospects and reduce inequality is a top priority in the face of rapid population ageing and a dualistic labour market. Sustaining output growth requires policies to mitigate the impact of rapid population ageing by increasing labour inputs from under-employed segments of the population.




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Restructuring the electricity sector and promoting green growth in Japan

The 2011 disaster and nuclear problems opened the door to a new energy policy, as they raised fundamental questions about the electricity system’s ability to prevent and respond to accidents.




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Policies to support sustainable long-term growth in New Zealand

As its workforce ages and major economies shift towards producing higher value-added goods and services, New Zealand will face increasing challenges to remain globally competitive and maintain high living standards. Future growth will need to come increasingly from productivity gains, and resources will have to shift towards activities that rely more on skills, technology and intangible assets.




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Advanced economies growing again but some emerging economies slowing, says OECD

A moderate recovery is underway in the major advanced economies, according to the OECD’s latest Interim Economic Assessment. Growth is proceeding at encouraging rates in North America, Japan and the UK. The euro area as a whole is out of recession, although output remains weak in a number of countries.




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G20 Leaders’ Summit: Growth and Global Economy

Building an international tax system that is transparent, efficient and fair, will serve our economies, our governments and our citizens, said OECD Secretary-General at the G20 summit in St. Petersburg.




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The People's Republic of China - Avoiding the middle-income trap: Policies for sustained and inclusive growth

This report presents an update of OECD policy advice in areas that are critical to China’s long-term economic performance and social development. They include food security, social safety nets, health reform, green growth, climate change and urbanisation.




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Irish recovery underway, but more inclusive growth and job creation needed, says OECD

Ireland’s economy is now showing encouraging signs of recovery from the financial crisis, but more must be done to reinvigorate growth and create the jobs that will get the country back to full health, according to the OECD.




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Innovation, diversification and better logistics key to sustainable and inclusive growth, says latest Latin American Economic Outlook

After a decade of relatively strong growth, Latin America is facing headwinds associated with declining trade, a moderation in commodity prices and increasing uncertainty over external financial conditions, according to the latest Latin American Economic Outlook jointly produced by the OECD Development Centre, the UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and CAF - Development Bank of Latin America.




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Chile should continue strengthening growth and well-being, says OECD

Sound macroeconomic policies and the commodity boom have helped Chile record an enviable period of economic growth and job creation. Further reforms are needed to make the labour market more inclusive and growth greener, while more could be done to support innovation and entrepreneurship, according to the latest OECD Economic Survey of Chile.




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France : Reinforcing competitiveness is key to boosting jobs and growth

Improving France’s competitiveness is essential to boost the economic growth needed to create jobs and allow citizens and businesses to develop their full potential, according to a new OECD report.




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From bricks to brains: increasing the contribution of knowledge-based capital to growth in Ireland

With sound framework conditions, fine universities, good infrastructure and policies friendly towards foreign direct investment, Ireland scores high in international innovation scoreboards. Overall, policies to boost innovation and entrepreneurship are on the right track, but investment in knowledge-based capital could be made a more dynamic source of growth and jobs.




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Green growth challenges and the need for an energy reform in Mexico

As Mexico seeks to boost economic growth, pressures on its natural resources and environmental outcomes may intensify, jeopardizing the sustainability of that growth and the well-being of the population.




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Environmental policies and productivity growth - a critical review of empirical findings

This paper reviews the empirical evidence on the link between environmental policy stringency and productivity growth, and the various channels through which such effects can take place.




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Global spillovers from the growth slowdown in emerging market economies

A slowdown in EMEs has larger effects on the global economy than in the past, via trade and financial cross-border linkages.




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Growth-promoting policies and macroeconomic stability

This paper looks at a vast array of policy recommendations by the OECD that promote long-term growth – contained in Going for Growth and the Economic Outlook – and attempts to establish whether they underpin macroeconomic stability or whether there is a trade-off.




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Israel’s economy growing strongly but further efforts needed to improve living standards, says OECD

Israel’s economy is in good shape, but further efforts are needed to fight poverty and close the gap in living standards with other leading nations, according to the OECD’s latest Economic Survey of Israel.




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Russian economy growing but further reforms needed, says OECD

The Russian Federation’s economy is growing, but further reforms are needed to bolster future growth, improve the business climate and strengthen innovation, according to the OECD.