A combination of market-based policies and a redistributive welfare state have boosted Belgium’s per-capita GDP to well above the average of OECD countries and raised well-being, according to a new OECD report.
Germany recovered rapidly from the 2008-09 recession, with GDP topping pre-crisis rates during 2011 and unemployment falling significantly. Public finances are sound, but further reforms are needed to transform its growth model to thrive as a knowledge-based economy.
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.
Many studies on household energy efficiency investments suggest that a wide range of seemingly profitable investments are not taken up. This paper provides novel evidence on the main factors behind consumer choices using the OECD Survey on Household Environmental Behaviour and Attitudes.
The downturn in fixed investment among advanced economies from the onset of the global crisis was unusually severe, widespread and long-lasting relative to comparable episodes in the past. As a result, investment gaps are large in many countries, not only in relation to past norms but also relative to projected future steady-state levels, with a gap of 2 percentage points of GDP or more in several countries.
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.
This paper reviews different explanations for apparent underinvestment in energy efficiency that have been put forward in the literature. It also provides new evidence regarding barriers to investment in energy efficiency based on the OECD Survey on Household Environmental Behaviour and Attitudes.
Global growth will gradually strengthen towards its pre-crisis trend rate by late 2016 as activity becomes more evenly shared across the major economies and overall external imbalances are less marked than in the run-up to 2007, according to the OECD’s latest Economic Outlook.
OECD Ministers have endorsed updated guidelines to help national governments and regional groups create the right conditions to attract domestic and foreign investment.
The OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work.
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.
The determinants of foreign direct investment (FDI) are explored with gravity models, using a Poisson estimator and a linear estimator, both with fixed effects.
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.
Germany is in a solid economic position, but ageing and technological change require new investments in people to ensure a stronger and more inclusive society, according to the latest OECD Economic Survey of Germany.
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.
Over the last decade, Poland has significantly upgraded its infrastructure network, and public investment has risen rapidly. However, bottlenecks still weigh on productivity growth and environmental and health outcomes, and the perceived quality of transport and energy infrastructure remains lower than in most OECD countries.
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.
The German economy has steadily recovered from the 2008 global crisis. Thanks to past reforms, the labour market has proved strong and export performance has been impressive.
Investment has rebounded during the recent economic revival, but from a low level. The investment slump during the crisis was mostly caused by a fall in residential investment. However, business investment has been trending downwards since 1990, holding back capital stock accumulation and productivity.
Non-residential investment has fallen over the past 20 years as a share of GDP and is now lower than in several other high-income OECD countries.
Middle Eastern and North African countries should press ahead with further economic and structural reforms to boost flagging trade and investment, restore public trust and create jobs for the region’s young population, the OECD told ministers from the region today.
Portugal’s economy has successfully recovered from the strong recession that lasted until 2014. Nonetheless, the economy’s still low investment, which has declined far more than in other Euro area countries, remains a source of concern.
Spain has chronically low productivity growth, which undermines its ability to generate higher living standards.
Boosting investment is key to supporting the nascent recovery and reviving stagnant productivity.
This paper investigates the relationship linking investment (capital stock) and structural policies.
A combination of market-based policies and a redistributive welfare state have boosted Belgium’s per-capita GDP to well above the average of OECD countries and raised well-being, according to a new OECD report.
The Slovenian economy is rebounding after a long downturn, experiencing stronger growth, declining unemployment, healthier public finances and renewed income convergence with more advanced European economies. Further reforms are now needed to increase investment, boost productivity, improve living standards and ensure that all Slovenians benefit from inclusive growth, according to a new report from the OECD.
Higher living standards and well-being, as well as convergence with more advanced economies, will depend on achieving higher productivity, which in turn would be boosted by more investment in capital.
Since the crisis, Estonia has experienced one of the most pronounced declines in the ratio of non-residential investment to GDP in the OECD.
This paper analyses how technological progress embodied in capital goods raises productivity and income, while at the same time it can modify the allocation of consumption, investment and the capital stock.
Norway makes substantial public investment in transport and this has intensified in recent years. There is potentially large economic benefit from such investment, particularly as good transport infrastructure can help Norway’s transition away from oil-related activities.
Brazil is emerging from its long recession and is headed for solid growth in 2018 and 2019 as recent structural reforms start to bear fruit. Sustaining this recovery, unleashing Brazil’s full economic potential and spreading the benefits fairly will require additional efforts to rein in public spending, increase trade and investment, and further focus social spending on those most in need, according to a new OECD report.
Current weak labour productivity growth in many OECD countries reflects historically weak contributions from both total factor productivity (TFP) growth and capital deepening.
Greece’s recovery from deep economic depression is finally gaining traction, according to the OECD. Economic growth has started to pick up led by a rise in exports while labour market reforms have improved competitiveness and are helping to create jobs.
Since the early 2000s, the investment rate has declined, driven by the decrease in business investment.
Poland’s productivity has grown strongly over the past two decades. However, the public and private capital stock is weak, and investment remains focused on the adoption of existing technologies, which weighs on future productivity gains and innovation.
Turkey’s business sector exhibits one of the highest investment rates among OECD countries.
Aggregate investment has declined markedly over the crisis and has yet to recover. Reviving domestic and foreign investment is crucial to supporting the economic recovery, deepen Greece’s integration into global value chains and raising living standards.
Brazil is emerging from its long recession and is headed for solid growth in 2018 and 2019 as recent structural reforms start to bear fruit. Sustaining this recovery, unleashing Brazil’s full economic potential and spreading the benefits fairly will require additional efforts to rein in public spending, increase trade and investment, and further focus social spending on those most in need, according to a new OECD report.
Intergovernmental fiscal frameworks usually reflect fundamental societal choices and history and are not foremost geared towards achieving economic policy objectives. Yet, like most institutional arrangements, fiscal relations affect the behaviour of firms, households and governments and thereby economic activity.
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.
Recommendation of the OECD Council on Effective Public Investment Across Levels of Government
This online resource will guide you in implementing the OECD Principles on Effective Public Investment Across Levels of Government. In addition to better familiarising yourself with the 12 Principles, the Toolkit lets you compare indicators and best practices in use in numerous countries, regions and municipalities.
The Colombian corporate tax system is highly complex and distortive. The effective tax burden on businesses is very high due to the combined effect of the corporate income tax, the corporate surtax introduced in 2012 (CREE), the net wealth tax on business assets and the value added tax (VAT) on fixed assets.
The OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work.
Middle Eastern and North African countries should press ahead with further economic and structural reforms to boost flagging trade and investment, restore public trust and create jobs for the region’s young population, the OECD told ministers from the region today.
The scale of the transition to a green, low-emissions and climate-resilient economy is enormous – it is the biggest structural adjustment ever proposed in the field of international governance. The OECD Centre will catalyse and support the transition to a green, low-emissions and climate-resilient global economy through the development of effective policies, institutions and instruments for green finance and investment.
This paper seeks to identify the conditions under which raising public investment can sustainably lift growth without deteriorating public finances.