This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

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.

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.

OECD Secretary-General Angel Gurría welcomes the Spanish government's budget and the economic policy measures announced yesterday.

Spain is immersed in a prolonged recession that has been compounded by the continuing crisis in the euro area. The path to recovery has been launched, but will require full implementation of reforms and some additional measures to restore confidence in the financial sector, redress public finances and bring down high unemployment, according to the OECD’s latest Economic Survey of Spain.

Structural reforms offer governments a powerful tool to boost economic growth, create jobs and bring about a strong and balanced economic recovery, according to the OECD’s latest Going for Growth report.

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.

China’s exceptional economic expansion has led to rising energy demand and pollution as well as other environmental pressures. Strong efforts by the government have moderated emissions of some types of air and water pollution from high levels but others, including greenhouse gas emissions, continue to rise. Poor air and water quality threaten human health, create other costs and reduce well-being.

Italy has made considerable progress in strengthening its public finances and adopting wide-ranging reforms to boost economic growth. The new government must build on past achievements and ensure that they are sustained and reinforced, says a new OECD report.

China is well-placed to avoid the so-called "middle-income trap" and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon.

Greece has made impressive headway in consolidating its public finances and undertaking key structural reforms to boost productivity and enhance competitiveness.

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.

Adopting ambitious and comprehensive structural reform agendas will offer governments the best chance for a return to strong, sustainable and balanced economic growth that creates jobs and reduces inequality, according to the OECD’s latest Going for Growth report

Poland’s economic performance has been impressive over the past 15 years, but further reforms are now needed to put the economy firmly back on track for stronger and sustainable growth, according to the OECD’s latest Economic Survey of Poland.

In spite of a slow and uneven global recovery over the past five years, China has maintained strong growth and continued to tackle income inequality, which had been rising, as well as poverty. Drawing on the expertise and collective experience of OECD member and partner countries, this Report presents recent OECD analysis and policy advice in areas that are critical to China’s long-term economic performance and social development.

Action taken by many European countries to return their public finances to health are beginning to pay off, says the OECD. The Euro area economies which emerged from the crisis with serious current account deficits are now in surplus. Debt-to-GDP ratios are stabilising and market tensions have abated.

The Netherlands is gradually emerging from a double-dip recession with strengthened public finances and reforms on track to improve the labour and housing markets and the health care and pension systems. These reforms are paying off, says the OECD. Growth is expected to reach 1% this year and 1.3% in 2015.

Germany’s current economic success offers a good platform for achieving sustainable and inclusive growth, but further reforms will be necessary over the medium and long term, according to the latest OECD Economic Survey of Germany.

Economic recovery in the United States is stronger than in most OECD countries, but it will remain sluggish unless new reforms are launched to boost growth, according to OECD’s latest Economic Survey of the United States.

Korea needs to move away from its current economic model and implement a range of reforms to develop a creative economy that can sustain long-term growth, according to the latest OECD Economic Survey of Korea. The strategy should be accompanied by new measures to reduce income inequality and poverty, particularly among the elderly, the OECD said.

Full implementation of the structural reforms adopted and announced in France would boost potential annual economic growth by one third, or 0.4 percentage points per year over ten years, according to the OECD.

Fundamental reforms have helped put the Portuguese economy back on the right track, but a durable recovery will require additional measures to improve export competitiveness, create jobs and ensure social protection for those most in need, according to the latest OECD Economic Survey of Portugal.

While the outlook for many OECD countries remains subdued, Emerging Asia is set for healthy growth over the medium term. Annual GDP growth for the ASEAN -10, China and India is forecast to average 6.5% over 2015-19. Growth momentum remains robust in the 10 ASEAN countries, with economic growth averaging 5.6% over 2015-19.

The Indian economy is showing signs of a turnaround, but new reforms are needed to put the country on a path to strong, sustainable and inclusive growth, according to the latest OECD Economic Survey of India.

Meeting Greece’s Minister of Development and Competitiveness Mr. Kostas Skrekas today, OECD Secretary General Angel Gurría said the Greek government’s reform programme was already showing positive results.

The underlying strengths of the Estonian economy have helped it bounce back from the crisis, but some challenges remain to finding a steeper, more inclusive and more sustainable growth path, according to the latest OECD Economic Survey of Estonia.

The Belgian economy has returned to growth and continues scoring well on broader measures of well-being, but further reforms will be needed to secure fiscal sustainability while promoting employment and competitiveness, according to the latest OECD Economic Survey of Belgium 2015.

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.

Changes to Italy’s political and institutional systems are crucial to ensuring the success of ambitious reforms currently underway to boost economic growth and raise living standards, according to a new OECD report.

The Latvian economy is among the fastest-growing in the euro area, but continued reforms will promote a rapid and sustainable pace of convergence with upper-income countries while limiting the risk of repeated boom-and-bust cycles, according to the OECD Economic Survey of Latvia.

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.

Structural reforms and income distribution

Urbanisation will continue in China, with the government planning to grant urban residential status to an additional 100 million rural workers by 2020. For those who remain in rural areas, improved social welfare systems and investment in health services are critical.

The New Zealand economy has performed well in recent years, but bottlenecks in housing and urban infrastructure, inequalities in living standards and rising environmental pressures all pose challenges for sustaining robust growth and high levels of well-being over the long term, according to the OECD’s latest Economic Survey of New Zealand.

This survey highlights the key results of the empirical literature concerning the costs of flexibility-enhancing reforms in product and labour markets.

Finland enjoys a high level of income and well-being, but the economy has weakened and new reforms will be necessary to restart growth, boost productivity increase employment and restore competitiveness, according to the latest OECD Economic Survey of Finland.

Costa Rica has made impressive economic, social and environmental progress, but further institutional and policy reforms will be necessary to ensure stronger and more inclusive growth, according to the first-ever OECD Economic Assessment of Costa Rica.

Lithuania has made remarkable economic and social progress, but further policy reforms will be necessary to ensure a more productive and inclusive economy, according to the first-ever OECD Economic Assessment of Lithuania.

The Hungarian economy has expanded strongly in recent years, helped by robust exports and firm domestic demand. But incomes are among the lowest in the OECD and structural reforms will be needed to sustain growth over the medium term, strengthen business investment and better match skills to labour market needs, according to a new OECD report.

Denmark’s economic prospects are improving, but further reforms are needed to maintain the country’s high living standards and ensure the well-being of all citizens, according to a new report from the OECD.

Korea needs to boost productivity, increase employment and stoke economic activity as part of efforts to reverse current trends toward slower growth and low inflation, according to a new report from the OECD.

The pace of structural reforms is slowing just when the world economy needs decisive policy actions to strengthen fundamentals and restore healthy growth (the 2016 Going for Growth report). Policy makers may be concerned that introducing structural reforms in the current context involve trade-offs between the mid- to long-run gains in employment and productivity and short-run losses.