Small and medium-sized enterprises (SMEs) are key contributors to economic growth and job creation. The current economic and financial crisis has reduced bank lending and has affected SMEs in particular. Capital markets will have to play a bigger role in financing SMEs in order to make them more resilient to financial shocks. This article reviews the spectrum of alternative market-based debt instruments for SME financing.

In October 2014 China launched the Asian Infrastructure Investment Bank (AIIB), drawing wide international attention. Nearly 60 countries have joined the new international financial institution, including several OECD member and partner countries, though others have remained cautiously outside. What is the purpose of the new bank and what impact will it have? We asked Yide Qiao for his views.

This study explores the effectiveness of the incentive mechanisms embedded within the UK’s Funding for Lending Scheme (FLS) for banks’ to expand their supply of lending to medium sized enterprises (SMEs).

In 2014, the Financial Stability Board (FSB), in collaboration with the IMF and OECD, prepared a report for G20 leaders that sought to assess the cross-border consistencies and global financial stability implications of structural banking reform measures. To further examine structural banking reform measures taken since 2008, the OECD circulated a survey. This report describes the outcome of this survey.

Globalisation has failed to create a level playing field in trade, investment and corporate behaviour, being one of the factors contributing to a backlash against openness in many countries and a decline in confidence in government institutions.

The OECD Working Group on Bribery has serious concerns regarding Belgium’s limited efforts to comply with the OECD Anti-Bribery Convention.

Capacity Utilization in the United Kingdom decreased to 55.10 percent in the second quarter of 2020 from 79.20 percent in the first quarter of 2020. Capacity Utilization in the United Kingdom averaged 72.86 percent from 1958 until 2020, reaching an all time high of 85.20 percent in the second quarter of 1988 and a record low of 38 percent in the first quarter of 1965. Capacity utilization rate is used to measure the rate at which potential output levels are being met or used. This page provides the latest reported value for - United Kingdom Capacity Utilization - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Mortgage Approvals in the United Kingdom decreased to 56.16 Thousand in March from 73.67 Thousand in February of 2020. Mortgage Approvals in the United Kingdom averaged 83.91 Thousand from 1986 until 2020, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 26.36 Thousand in November of 2008. Mortgage approvals for house purchase refers to the firm offers of lenders to advance credit secured on specific dwellings to their customers. It covers approvals that are fully secured on residential property by a first mortgage. It includes existing borrowers transferring their existing mortgage to another property, lending to first-time purchasers and lending for buy-to-let purposes. This page provides the latest reported value for - United Kingdom Mortgage Approvals - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Europe's sovereign debt crisis has exposed structural weaknesses in economic governance that now threaten the entire euro region. Efforts to reinforce public finances and preserve the currency union must go further than solutions proposed to date.

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

A major step forward towards putting the measurement of well-being at the heart of policy-making was taken at a four-day international conference which ended in New Delhi today.

Under the Universal Credit reform, the main means-tested benefits except the Council Tax Benefit will be pooled into one single benefit with one single taper rate. The reform will give people better incentives to work, reduce complexity and contribute to reducing poverty.

Employment has risen by more and unemployment has risen less than expected, given the path of output. Nevertheless, long-term and youth unemployment and involuntary part-time work are high. A polarised labour market risks worsening income inequality, which is high by OECD standards, despite a recent and likely temporary decline.

Luxembourg is a rich and fast-growing country. However, inequality of disposable incomes has trended up modestly over the past decades and relative poverty has risen reflecting mainly the rapid growth of high incomes.

This paper reviews the state of the banking sector in Europe. At the aggregate level, the empirical data suggest that the Baltics, Cyprus, Greece and Ireland, in particular, are hit by a strong decline in lending in the wake of the financial crisis.

Policies for Inclusive Urbanisation in China

The paper discusses a number of policies that could help to make the Chilean labour market more inclusive and broaden the benefits of growth. These include expanding childcare, promoting a more flexible labour market and strengthening education and skills policies, among others.

Surveys suggest that Denmark ranks close to or slightly above the OECD average in terms of student and adult skills, even though Denmark spends more than many OECD countries on education, labour market policies and adult learning. Sluggish productivity growth over the past two decades raises the question of how to develop better skills and use them more efficiently to achieve stronger and more inclusive growth.

Poor labour market outcomes remain one of Poland’s major structural weaknesses, impeding firms’ competitiveness and the nation’s potential output. Boosting employment prospects is also critical, as the country will soon be ageing at a fast pace.

Economists have traditionally been very cautious when studying the interaction between employment and health because of the two-way causal relationship between these two variables: health status influences the probability of being employed and, at the same time, working affects the health status.

Dutch banks were put under heavy strains early in the global downturn and have comparatively weak financial buffers to cope with new shocks. Falling house prices have increased the share of households with negative home equity to nearly 35% for home-owning households and 40% for mortgage holders.

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.

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.

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.

The United Kingdom (UK) has spent less on infrastructure compared to other OECD countries over the past three decades. The perceived quality of UK infrastructure assets is close to the OECD average but lower than in other G7 countries.

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.

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.

Inequality measures in Lithuania (like in Estonia and Latvia) are high. To an important extent this is related to the high risk of poverty for non-working individuals and to the low rewards to work. Therefore, increasing the quality of jobs, ensuring that the most vulnerable have access to employment and providing adequate income support for those that have lost their job are key for making labour markets and the economy more inclusive.

In the past 30 years Costa Rica has grown steadily and social indicators have improved markedly. Well-being indicators are comparable or even above the OECD average in several dimensions, such as health, environment or life-satisfaction. This paper reviews the social progress that Costa Rica has achieved and identifies reducing inequality and poverty as the main challenges.

To continue catching up with living standards in other OECD countries Poland needs to invest in higher skills.

The ECB, the Bank of Japan and five other central banks in Europe have applied negative interest rates on commercial banks’ reserves. This additional monetary policy stimulus, following large asset purchases by central banks in some of these areas, should boost the economy and thus raise inflation closer to target.

Although Lithuania’s growth has been impressive, inequality is high, the risk of poverty is one of the highest of European countries, and life expectancy is comparatively low and strongly dependent on socio-economic background.

Although Lithuania’s growth has been impressive, inequality is high, the risk of poverty is one of the highest of European countries, and life expectancy is comparatively low and strongly dependent on socio-economic background.

This paper delivers a broad assessment of income inequality in Denmark.

We have always had plumbers, electricians, and lawyers who do temporary work, and are not paid by a household when they are idle. However, do new apps such as Uber or Deliveroo mean the end of the 9 to 5 job, and do these platforms need to be regulated?

This paper delivers a broad assessment of income inequality in Denmark.

Malaysia’s success in alleviating poverty has been achieved despite the absence of an integrated and comprehensive social protection system.

This study explores the effectiveness of the incentive mechanisms embedded within the UK’s Funding for Lending Scheme (FLS) for banks’ to expand their supply of lending to medium sized enterprises (SMEs).

This study explores the effectiveness of the incentive mechanisms embedded within the UK’s Funding for Lending Scheme (FLS) for banks’ to expand their supply of lending to medium sized enterprises (SMEs)

This paper explores the extent to which “zombie” firms – defined as old firms that have persistent problems meeting their interest payments – are stifling labour productivity performance.

This paper explores the extent to which “zombie” firms – defined as old firms that have persistent problems meeting their interest payments – are stifling labour productivity performance.

On several measures, China has caught up with OECD economies in the area of innovation.

Integrating measures to tackle climate change into regular economic policy will have a positive impact on economic growth over the medium and long term, according to a new OECD report prepared in the context of the German Presidency of the G20.

After several years of subdued growth, economic output accelerated in 2016 supported by a tax reform that entered into force in 2015-16, and more recently a pick-up in international trade.

With gross government debt of 219% of GDP in 2016, Japan’s fiscal situation is in uncharted territory and puts the economy at risk.

The U.K. economy has weakened in the aftermath of the decision to leave the European Union. Maintaining close ties with the EU and implementing policies to boost productivity will be crucial for maintaining future living standards, according to a new report from the OECD.

This paper explores the connection between “zombie” firms (firms that would typically exit in a competitive market) and bank health and the consequences for aggregate productivity in 11 European countries.

A favourable business environment is crucial to boosting Belgium’s productivity and inclusiveness and to sustain improvements in long-term economic prosperity.

The United Kingdom displays large regional disparities in productivity compared to most other OECD countries, with a large gap between London and most other regions.

More than a quarter of adults in the United Kingdom have low basic skills, which has a negative impact on career prospects, job quality and productivity growth.