Mr. Angel Gurría, Secretary-General of the OECD, was in Madrid 13-15 June 2018. The Secretary-General delivered remarks at the event organised by the Consejo Iberoamericano para la Competitividad y Productividad: "Innovación gubernamental para un Estado al servicio de la Sociedad".

As discussed in the latest OECD Economic Outlook, the prolonged undershooting of inflation targets, despite massive monetary policy stimulus and stronger economic growth and lower unemployment, raises issues about the appropriateness of current inflation targeting frameworks in advanced economies. While the frameworks differ in detail and implementation, they are principally based on medium-term inflation objectives of 2%.

Short-term prospects for the Korean economy are good, with an uptick in world trade and fiscal policy driving growth, but productivity remains relatively low and the country faces the most rapid population ageing in the OECD area, according to a new report from the OECD.

Since the early 2000s, the investment rate has declined, driven by the decrease in business investment.

Mr. Angel Gurría, Secretary-General of the OECD, will be in The Hague on 2 July 2018 to present the 2018 OECD Economic Survey of The Netherlands. While in The Hague, the Secretary-General will hold bilateral meetings with several Ministers and high-level officials of The Netherlands.

Poland’s catch up with other OECD country has been largely based on productivity growth resulting from restructuring towards more productive sectors and foreign technology absorption.

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.

With still large government debt and interest payments in many OECD countries, actively adjusting debt maturity can help to minimise debt servicing costs.

Consecutive years of primary deficits have led to mounting public debt of almost 50% of GDP, one of the fastest increases in Latin America over the last decade.

Lithuania’s economy has grown faster than most other OECD economies over the past 10 years, unemployment continues to fall and public finances have stabilised after a long period of deficits and rising debt.

Low interest rates prevailing in many advanced economies in recent years have already helped to lower the debt servicing burden, but government debt and interest payments remain large in many OECD countries. Could a further reduction in interest payments be attained by "locking-in" current low interest rates?

Policy choices made today can have important positive effects on future living standards, according to new long-term economic scenarios released by the OECD.

Mr. Angel Gurría, Secretary-General of the OECD, will be in Prague on 16 July 2018 on an official visit. He will present the 2018 OECD Economic Survey and the Environmental Performance Review of the Czech Republic.

Despite numerous headwinds and adverse shocks, Turkey's real GDP has grown by more than 34% over the past 5 years, faster than any other OECD country except for Ireland and only slightly less than China and India.

Turkey’s business sector exhibits one of the highest investment rates among OECD countries.

This paper examines an industry whose economic activity uses a natural capital on which its profit also relies.

Canada is one of the OECD economies delivering the best outcomes for its citizens, especially in regards to self-reported well-being, personal security and health status. Canada is also undertaking several programmes to foster inclusive growth – with respect to childcare benefits, gender equality and social housing.

The euro area sovereign debt crisis highlighted important weaknesses in the euro area design. Fiscal policy did not build sufficient buffers before the crisis, which forced some countries to tighten fiscal policy too rapidly during the downturn to restore market confidence in sovereign borrowing.

This paper investigates the effect of structural characteristics on debt limits of middle income countries.

This paper provides robust empirical evidence that government effectiveness is a key determinant of sovereign defaults.

This paper uses a novel data set of digital technology usage covering 25 industries in 25 European countries over the 2010-16 period to explore the drivers of digital adoption across two broad sets of digital technologies by firms, cloud computing and back or front office integration.

Canada has long taken in more immigrants relative to its population than most other countries. Immigration policy in Canada aims to promote economic development by selecting immigrants with high levels of human capital, to reunite families and to respond to foreign crises and offer protection to endangered people.

The current Canadian government has declared itself feminist and has taken a number of steps to improve labour market outcomes for women. In terms of employment and labour force participation, Canadian women do much better than the OECD average.

Governments today need to balance the policy goals of boosting economic growth and improving equity when making budget decisions. How can public spending choices promote inclusive growth? What can be learned from previous spending decisions in times of crisis?

This paper reviews empirical research on finance and labour markets.

The euro area sovereign debt crisis has exposed important flaws in the design of the Economic and Monetary Union, especially when it comes to dealing with macroeconomic shocks.

The paper examines the possible design and macroeconomic stabilisation properties of a euro area unemployment benefits re-insurance scheme using annual historical data from 2000 to 2016.

The discussion about a fiscal stabilisation capacity as a way of providing more fiscal integration in the euro area has strengthened in the aftermath of the European sovereign debt crisis.

This paper exploits a new database that is unique in its scale and scope containing detailed information on over two million projects carried out by one million firms that benefited from the European Regional Development Fund, the European Social Fund and the Cohesion Fund in 25 EU member countries during the multi-annual financial framework 2007-2013.

Over the past two decades, real median wage growth in many OECD countries has decoupled from labour productivity growth, partly reflecting declines in labour income shares.

Mr. Angel Gurría, Secretary-General of the OECD, was in Vienna on 7-8 September 2018 to attend the Eurogroup Meeting / Informal Meeting of Economic and Financial Affairs Ministers (ECOFIN).

This paper explores cross-country differences in the design of insolvency regimes, based on quantitative indicators constructed from countries’ responses to a recent OECD policy questionnaire.

Employment is pivotal to strengthening Greece’s economic recovery, increasing social welfare and redressing poverty.

Health care expenditure per person, after accounting for changes in overall price levels, began to slow in many OECD countries in the early-to-mid 2000s, well before the economic and fiscal crisis.

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.

The global economic expansion appears to have peaked, with diverging growth prospects worldwide and intensifying risks, according to the OECD’s latest Interim Economic Outlook.

David Henderson, Chief Economist of the OECD from 1983 until his retirement in in 1992, died on 30 September 2018, aged 91.

To assess the cyclical position of an economy, macroeconomists use a concept called potential output, which measures the economy’s production rate that is consistent with stable inflation at the target.

A steady economic expansion in Indonesia is boosting living standards, curbing poverty and offering millions of people greater access to public services.

Making SMEs and start-ups a driver of growth and job creation requires a number of policies to improve the performance of SMEs, whose labour productivity in the manufacturing sector has fallen to less than a third of that in large companies.

Business and government should work more closely together to reduce inequality and foster inclusive growth. To help achieve this, at the Paris Peace Forum, Gabriela Ramos, OECD Chief of Staff, G7/G20 Sherpa and leader of the OECD’s Inclusive Growth Initiative, and Emmanuel Faber, Chairman & CEO of Danone, launched the Business for Inclusive Growth (B4IG) Platform.

Using cross-country time series panel regressions for the last two decades, this paper seeks to identify the main policy and institutional factors that explain the share of selfemployment across European countries.

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The Brazilian economy has made a rapid recovery from the global economic crisis, but further reforms are necessary to boost long-term growth, spur investment and further reduce poverty, according to the OECD’s latest Economic Survey of Brazil.

How can government policies move towards increasing agricultural innovation and improving productivity? This OECD conference shared case studies and ideas from Europe, China, United States, India, Africa, Brazil, Australia and New Zealand.

Tax revenues in Latin American countries are lower as a proportion of their national incomes than in most OECD countries, but are rising slowly. Revenue Statistics in Latin America shows that the average tax revenue to GDP ratio in the 15 Latin American countries covered by the report increased from 19% in 2009 to 19.4% in 2010, after falling from a high point of 19.7% in 2008.

En países latinoamericanos, la población crece a un ritmo mayor que el promedio mundial, lo cual intensifica el uso de la tierra y aumenta la urbanización. La región también es propensa a los impactos negativos del cambio climático y de los desastres naturales.

These country notes profile public sector human resource practices and policies, covering issues including legal frameworks; age and gender composition of workers; public sector restructuring; management practices; industrial relations and reforms.

Brazil’s supreme audit institution – the Federal Court of Accounts (TCU) – has began a process to reform its audit of the Accounts of the President of the Republic to enhance transparency and accountability of federal budget execution.