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Ambitious reforms can create a growth path that is both strong and inclusive, OECD says

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.




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The UK economy is doing well, but the job is not yet finished. Unleashing productivity is key to sustaining strong growth, says OECD

The United Kingdom’s economy is projected to expand this year and next, but challenges remain to boost productivity and make future growth more inclusive, according to the OECD’s latest Economic Survey.




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Low oil prices and monetary easing triggering modest acceleration of global recovery

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.




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What we've learned–and have still to learn–from the financial crisis*

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.




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Slovenia needs to increase reform efforts for a return to stronger growth

Economic reforms have helped Slovenia recover from the crisis, but further action is needed to strengthen the banking and corporate sectors, stabilise debt and create jobs, according to the latest OECD Economic Survey of Slovenia.




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Providing the right skills to all in China – from "made in China" to "created in China"

China has made impressive strides in education in recent decades, even though the accumulation of human capital has lagged behind that of physical capital. Going forward, access to and quality of education will be key to sustain economic convergence with the most advanced economies and to offset the drag exerted by population ageing.




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Reforming the pension system to increase coverage and equity in Colombia

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.




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Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment

This paper compares two competing empirical specifications across all OECD economies, where competing specifications correspond to the 'former' and 'new' specification for deriving measures of the unemployment gap which underlie the OECD’s Economic Outlook projections.




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New Zealand economy performing well, but sustaining high levels of growth and well-being will require further reforms

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.




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Low interest rates threaten solvency of pension funds and insurers

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.




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Enhancing the financing of the real economy and financial stability in the United Kingdom

The banking sector in the United Kingdom (UK) was deeply affected by the crisis. Bank credit has collapsed reflecting both weak demand and tighter supply. New prudential requirements have improved the resilience of the banking sector and a number of measures were taken to support credit supply.




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Policy areas for increasing productivity in Latvia

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.




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Making New Zealand’s economic growth more inclusive

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.




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Vocational training and adult learning for better skills in France

France devotes a great deal of resources to vocational training for youths and especially adults, but the system is unduly complex and yields rather poor returns. The basic literacy and numeracy skills of many French adults remain weak in international comparison, with harmful effects on employment opportunities, wages and well-being.




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Enhancing competitiveness, purchasing power and employment by increasing competition in France

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




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Who are the top 1% earners in Europe?

This is the first paper that comprehensively documents the profiles of the 1% highest paid employees across 18 European countries. The data come from the largest harmonised source available, an employer-based survey that covers the labour income of 10 million employees, excluding the self-employed.




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The drivers of public health spending: integrating policies and institutions

This paper investigates the impact of policies and institutions on health expenditures for a large panel of OECD countries for the period 2000-10.




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Poland: Investment in infrastructure and skills will support higher living standards and greater well-being

Polish economic growth remains solid and unemployment is decreasing, but further investments in infrastructure and skills will be essential to sustain a continuing improvement in living standards, environmental quality and well-being, according to the latest OECD Economic Survey of Poland.




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Policy challenges for agriculture and rural areas in Norway

Norwegian policy gives high priority to supporting rural communities, with support for agriculture receiving particular attention. It is broadly successful in terms of maintaining rural communities, and urban-rural gaps in a range of well-being indicators are comparatively narrow.




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Bringing all Chileans on board

The Chilean economy has had an extraordinary performance over the last decades with strong growth and declining poverty rates. This paper discusses how to achieve greater social inclusiveness against the background of weaker medium-term growth.




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OECD study finds Britons will be paying a heavy “Brexit tax” for many years if UK leaves EU

A UK exit from the EU would immediately hit confidence and raise uncertainty which would result in GDP being 3% lower by 2020, which equates to £ 2200 per household. The OECD states that such costs are already piling up in a new study released today.




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Korea needs new reforms to boost productivity, employment and growth

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.




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Regulations in services sectors and their impact on downstream industries: the OECD 2013 REGIMPACT indicator

This document presents the new 2013 set of the OECD Regulatory Impact (REGIMPACT) indicator. It measures the impact of regulatory barriers to competition in non-manufacturing sectors on all industries, through intermediate inputs.




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European economy is slowly recovering but legacies of the crisis remain and new challenges are emerging

The European economy is gradually recovering but further policy action will be required to address unresolved legacies of the global economic crisis that are weighing on growth and major new concerns that have emerged, according to two new OECD reports.




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The contribution of weak investment to the productivity slowdown

Concerns around weak productivity growth are everywhere these days. As the latest OECD Economic Outlook notes, since the mid-2000s, productivity growth has been markedly lower than at any other time since the 1950s.




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US economy growing steadily but key reforms needed

The US economy is making one of the strongest comebacks in the OECD, but there are risks on the horizon, according to the OECD’s latest Economic Survey of the United States.




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Boosting Canada’s productivity through greater small business dynamism

A dynamic small business sector can heighten competition and underpin productivity growth, as discussed in the 2016 OECD Economic Survey of Canada and Carey et al. (2016, forthcoming).




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The UK’s heart is wobbling but there are good reasons to Remain in the Union

Membership of the European Union contributes to the economic prosperity of the United Kingdom.




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Turkey: Challenging times call for pushing ahead with economic reform

Turkey’s economy has proven remarkably resilient in the face of a challenging global economic context. However, further action can be taken to raise productivity and advance the shift to a more balanced, sustainable and stronger growth path that will boost living standards for the entire population, according to the latest OECD Economic Survey of Turkey.




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Boosting productivity through greater small business dynamism in Canada

Small business dynamism is a feature of an SME sector that contributes to overall productivity growth, not an end in itself.




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Priorities for completing the European Union's Single Market

To support the recovery, structural reforms that yield short-run as well as long-run gains should be prioritised.




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OECD to help put innovation at heart of G20 global growth strategy

Leaders of the G20 countries meeting at their Summit in Hangzhou, China, have called on the OECD to help develop an agenda to build a stronger, more innovative and inclusive world economy.




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OECD warns weak trade and financial distortions damage global growth prospects

Weak trade growth and financial distortions are exacerbating slow global economic growth, according to the OECD’s latest Interim Economic Outlook.




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Green shoots of recovery in entrepreneurship beginning to appear

The post-crisis recovery in entrepreneurial activity remains mixed across countries, but new data released today by the OECD provides tentative signs of a turning point, with trends in enterprise creation rates pointing upwards in most economies.




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Cardiac arrest or dizzy spell: Why is world trade so weak, what can policy do about it?

World trade growth was rapid in the two decades prior to the global financial crisis but has halved subsequently.




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Inefficient insolvency regimes: a barrier to creative destruction?

A key recent OECD work, the "Future of Productivity" implies that inefficient firms increasingly linger as opposed to exit the market, despite their inability to adopt new technologies.




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Raising Korea’s productivity through innovation and structural reform

Raising productivity requires addressing a wide range of policies that affect resource allocation, the creation and diffusion of technology, human capital and the creation and financing of start-ups.




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Labour market reforms in Korea to promote inclusive growth

Labour market reforms are essential to promote social cohesion by removing obstacles to employment, particularly for women, youth and older persons.




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Unleashing private sector productivity in the United States

Productivity growth has been sluggish since the Great Recession and had been slowing before it.




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Realising and expanding opportunities in the United States

Measures that enable the acquisition of new skills and reduce mismatches between the demand and supply of existing skills can boost US economic growth and make its benefits more inclusive.




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Mind the gaps: boost early childcare education and care in Costa Rica

Costa Rican well-being indicators are comparable or even above the OECD average in several dimensions (OECD, 2016a). Nevertheless, gaps with OECD countries are large in two dimensions: labour market participation and education.




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Funding priority spending will become increasingly challenging in Indonesia

As described in the 2016 OECD Economic Survey of Indonesia, economic growth is expected to pick up over the course of 2016 and into 2017. Despite persistently weak external conditions, confidence is returning, with inflation moderating, a stable rupiah and government investment in infrastructure gathering pace.




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Labour mobility in the European Union: a need for more recognition of foreign qualifications

Labour market mobility in the European Union is increasing, but it remains too low to provide sufficient adjustment in the face of diverging labour market developments.




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Unleashing private sector productivity in the United States

With the global economy mired in low-growth and no signs of strong acceleration, a lot of attention has been paid to the meagre pace of productivity growth in OECD countries.




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Can reforms promoting growth increase financial fragility? An empirical assessment

Certain growth-promoting policies can have negative side-effects by increasing the vulnerability of economies to financial crises. Typical examples are greater openness to financial flows or more liberalised financial markets.




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Can reforms promoting growth increase financial fragility? An empirical assessment

Certain growth-promoting policies can have negative side-effects by increasing the vulnerability of economies to financial crises. Typical examples are greater openness to financial flows or more liberalised financial markets.




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Unleashing private sector productivity in the United States

In the United States, the most watched indicator of productivity (nonfarm business productivity growth) decelerated about ¾ percentage point from 2009 to 2014 relative to the preceding 5-year period.




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Composite Leading Indicators (CLI), OECD, December 2016

Growth momentum picking-up in several advanced economies and strengthening in major emerging economies




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Coping with creative destruction: reducing the costs of firm exit

A policy framework that does not unduly inhibit the creative destruction process is vital to sustaining productivity growth. Yet, a key question is what happens to workers who lose their jobs due to this process and what are the policies that minimise the costs of worker displacement?




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Coping with Creative Destruction: Reducing the Costs of Firm Exit

What happens to workers who lose their jobs due to firm exit – how quickly are they re-employed and what are the policies that can aid this process?