OECD sees global economy strengthening, but says further policy action needed to catalyse the private sector for stronger and more inclusive growth

This paper analyses for 34 OECD countries the extent to which the calculation of aggregate multi-factor productivity (MFP) is sensitive to alternative parameterisations.

This paper estimates and quantifies the impact of structural reforms on per capita income for a large set of OECD and non-OECD countries.

OECD annual inflation down to 2.2% in October 2017, as energy price inflation slows

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.

This paper investigates the effect of export entry on productivity, employment and wages of Latvian and Estonian firms in the context of global value chain (GVC).

Lowering high levels of unemployment and inequality are amongst the largest challenges facing South Africa.

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

A highly educated and skilled workforce has been an important driver of productivity performance and prosperity in Belgium.

Redistribution is quantified as the relative reduction in market income inequality achieved by personal income taxes, employees’ social security contributions and cash transfers, based on household-level micro data.

In its latest Economic Survey for Norway , the OECD underscores the importance of policy facilitating transition away from oil-related activities and helping businesses seize opportunities from digitalisation and globalisation, through providing i) macroeconomic and financial stability, and ii) improvements to structural-policy settings.

OECD annual inflation picks up to 2.4% in November 2017

Thanks to a highly developed welfare state, poverty is moderate on average in France, but – as in other countries – highly concentrated in some neighbourhoods.

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.

Many OECD countries have been facing a prolonged period of low growth and stagnating income of the poorest. This challenges governments’ fiscal redistribution, all the more so in a context where new forms of work are calling into question the effectiveness of traditional social safety nets and population ageing is putting pressure on public finances.

OECD annual inflation slows to 2.3% in December 2017

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.

Norway’s success in maintaining high living standards, low inequality and good progress in gender balance owes much to its business sector.

A favourable growth outlook offers Chile an opportunity to address its low productivity levels compared to other advanced economies, improve access to quality jobs and take steps to reduce its persistently high inequality, according to a new OECD report.

Las perspectivas de crecimiento favorable ofrecen a Chile una oportunidad para abordar sus bajos niveles de productividad comparados con los de otras economías desarrolladas, mejorar el acceso al empleo de calidad, y tomar medidas para reducir su desigualdad persistentemente alta, según un nuevo informe de la OCDE.

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.

OECD annual inflation slows to 2.2% in January 2018

The global economic expansion is strengthening, as robust investment growth, an associated rebound in trade and higher employment drive an increasingly broad-based recovery, according to the OECD’s latest Interim Economic Outlook.

Poland’s economic growth remains strong. Rising family benefits and a booming jobs market are lifting household income while poverty rates and inequality are falling, says a new OECD report.

Governments must implement comprehensive structural reform programmes to sustain stronger, greener and more inclusive growth that will extend beyond the current cyclical upswing, according to the OECD’s annual Going for Growth report.

Today’s excellent outlook offers Israel a unique opportunity to prepare for the challenges of the future which require stronger social cohesion. Israeli society is indeed marked by large inequalities.

Inequality and relative poverty in Israel remain high, particularly among Arab-Israelis and Haredim (Ultra-Orthodox).x

Services comprise a growing share of international trade. Yet detailed statistics on which countries trade which services with which partners remain patchy.

Rapid technological change – from digitalisation to artificial intelligence, 3D printing and nanomaterials – is transforming the way goods and services are produced and consumed. It will have profound implications for the dynamics of productivity, jobs, investment and trade over the next 10 to 15 years.

What is the relevant perspective for evaluating people’s living standards in advanced countries? According to standard assessments of inequality it is fellow citizens within the country.

OECD annual inflation stable at 2.2% in February 2018

This paper compares Finland’s benefit system with two benefit reform scenarios: a uniform benefit for all ("basic income") and a universal tapering rule ("universal credit").

Tunisia is firmly committed to a process of democratisation that needs underpinning by economic reforms in order to guarantee an improved standard of living for all Tunisians.

Current weak labour productivity growth in many OECD countries reflects historically weak contributions from both total factor productivity (TFP) growth and capital deepening.

Costa Rica has made impressive economic and social progress in recent years, with robust economic growth facilitating near-universal access to education, health care and pensions.

New firm-level analysis undertaken in tandem with the OECD Economic Survey of Ireland 2018 finds that the majority of businesses in Ireland have actually experienced falling productivity since the mid-2000s.

From a feudal trading hub connecting South with East Asia in the 18th and 19th centuries, Thailand has developed into a rapidly modernising and more urban economy. The second half of the 20th century saw the rapid expansion in manufacturing and services, which underpinned its transformation into an upper-middle-income country.

Markets and commentators are speculating that there may be a sustained pick-up in inflation in the United States, after years of subdued price pressures. Along with continued solid US jobs growth and low unemployment, there are tentative signs of higher wage growth and the fiscal stimulus will also boost short-term growth. Global growth is also getting stronger.

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.

OECD annual inflation stable at 2.3% in April 2018

Después de un largo período de débil crecimiento, la economía mundial finalmente está creciendo alrededor del 4%, cercano al promedio histórico de las últimas décadas.

Global trade imbalances narrowed in the aftermath of the global financial crisis. They have remained at a lower level but are still of concern to policy makers because of the risks they pose to individual economies, as well as globally.

In the past decade, overdose deaths have surged, particularly as (illicit) synthetic opioids have become more available. Opioid-related deaths touch urban and rural communities alike and are spreading to affect all demographic groups.

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

Tunisia’s trade, Tunisia's openness and its integration into global value chains has improved significantly since the mid-1990s, reflecting the country's comparative advantages.

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.

This paper summarises earlier OECD work aimed at quantifying the impact of structural reforms on economic outcomes.

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.

Owing to past structural reforms, Costa Rica has enjoyed robust GDP growth and productivity levels are gradually converging towards the OECD average.