This paper develops a simple model-based framework for stress testing fiscal consolidation strategies under different scenarios of future shocks

Public trust is the cornerstone of effective governance, the main ingredient to promote economic growth and social progress. Like never before, our citizens have doubts about their government’s capacities to make the right decisions. Therefore, we need to take the necessary measures to recover that confidence, said OECD Secretary-General.

This Forum took stock of the key challenges and trends in regulating money in politics; identify emerging risks and opportunities; shape a common understanding of the policy options ahead and trade-offs in enhancing fairness, integrity and transparency in decision making including in the realm of political finance; and mobilise partners to work together and promote synergies in the future agenda.

The global economic crisis has undermined trust in government. Today only four out of ten citizens in OECD countries say they have confidence in their national authorities. Not surprisingly, trust declined in the countries hit hardest by the crisis, such as Ireland, Greece, Slovenia and Portugal.

How can we earn back the trust of young people? Improving openness, transparency, accountability, and access to information is essential. On the occasion of the International Anti-Corruption Day and Transparency International’s 20th Anniversary, the OECD and Transparency International are inviting young people for a discussion about how to push the integrity agenda forward together.

This blog post on trust in governments is a compilation of presentations given at the OECD Workshop entitled "Joint Learning for an OECD Trust Strategy", held on 14 October 2013.

In 2008, a Gallup poll reported that, on average, less than half of the OECD population trusted their government. The crisis worsened the situation with a decline of four additional percentage points since then. Public actors and institutions have been blamed for their failure to cope with the crisis and for the impact it has had on people’s lives.

Smarter planning for natural and man-made disasters that increases collaboration between countries and encourages households and businesses to take more responsibility would improve resilience and reduce future economic losses, a new OECD report says.

World Economic Forum: Global Agenda Council Launches Guide to Good Government and Trust-Building

3-4 September 2014, Phnom Penh, Cambodia: This conference focused on the key levers for restoring trust in government and building trust by and in the private sector and civil society.

Trust is the glue that holds societies together. It is essential for most social and economic relations. Since the beginning of the economic crisis, OECD countries have been under pressure to restore trust in their institutions, especially in their governments.

The government’s current review of the federal system, focusing on both spending and tax responsibilities, is welcome, as is the “whole of government” approach to the process.

This review particularly recommends shifting away from income taxation to indirect taxation, for instance by raising more revenue from the Goods and Services Tax.

Colombia has engaged in a sustained process of fiscal decentralisation over the past decades. Evidence is presented that the current framework is conducive to fiscal sustainability, especially after the reforms in the late 1990s and early 2000s.

The objective of this paper is to calculate endogenous government debt limits given the markets assessment of the probability to default.

Countries need to do more to identify and reduce conflicts of interest and other breaches of integrity to help win back trust in national governments, which surveys suggest remains below pre-crisis levels, according to a new OECD report.

Ensuring that permanent spending or tax cuts are implemented in a sustainable manner would encourage the strong fiscal position that New Zealand needs to meet potentially large macroeconomic shocks and long-run ageing-related costs.

The recent droughts in Brazil’s Rio de Janeiro and São Paulo states have exposed the need to shift from crisis management to effective risk governance of the country’s water resources, according to a new OECD report.

Healthcare costs are rising so fast in advanced economies that they will become unaffordable by mid-century without reforms, according to a new OECD report.

This paper re-estimates the elasticities of government revenue and expenditure items with respect to the output gap for OECD countries. These elasticities are used by the OECD to calculate cyclically adjusted fiscal balances. The study updates the earlier 2005 study using the most recent datasets and tax codes, the coverage being confined in this paper to 35 countries, the 34 OECD member states and Latvia.

Sound public policies grounded in evidence – and implemented effectively – will be crucial for the achievement of the 2030 Agenda for Sustainable Development. This document outlines four broad areas for future action for the OECD, highlighting what it could do more of – or do differently – to support the achievement of the Sustainable Development Goals. C/MIN(2016)6.

Governments must act faster help people and firms to make greater use of the Internet and remove regulatory barriers to digital innovation or else risk missing out on the potentially huge economic and social benefits of the digital economy, the OECD told ministers and high-level officials from almost 40 countries today.

Through measurement, reviews, the identification of good practices and policy dialogue, the OECD seeks to better understand, track and help to improve access to justice.

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.

This paper seeks to identify the conditions under which raising public investment can sustainably lift growth without deteriorating public finances.

Women’s representation in parliaments remains a global issue. In 2016, women constituted 23% of parliamentarians over both upper and lower houses combined, with the Pacific, Arab States and Asia having the lowest representation (16.4%, 18.2%, and 19.2% respectively).

OECD blog on the current dwindling levels of trust and what governments can do to help rebuild public trust.

This survey was presented at the Informal ministerial meeting on responsible business conduct held in Paris on 26 June 2014.

Investment treaties are often thought to be silent on investors’ responsibilities to host societies and on their contributions to sustainable development. This paper establishes a factual and statistical basis for understanding the relationship between investment treaty law and governments’ ability to advance the sustainable development agenda and promote responsible business conduct.

This article by Roel Nieuwenkamp talks about the trend of hardening of soft law in the domain of responsible business conduct. It argues that legislative proposals related to existing international instruments should not seek to reinvent the wheel, but to reinforce it. Existing instruments that are widely recognised and proven to be effective and reasonable should represent a foundation for their legally-binding counterparts.

With a focus on the Asia-Pacific region, this conference addressed what the Sustainable Development Goals will mean for business and how business sustainability strategies can be aligned to support their implementation.

The G20/OECD Principles of Corporate Governance provide recommendations for national policymakers on shareholder rights, executive remuneration, financial disclosure, the behaviour of institutional investors and how stock markets should function.

As part of continuing efforts to support market confidence and business integrity, the OECD has launched in Asia a new set of corporate governance principles that were endorsed at the G20 Finance Ministers meeting in September 2015.

From the early 2000s, sustainability has emerged as a central policy-making consideration as climate change and population growth have heightened concerns about already-stretched natural resources.

Investment can help raise standards of living through job creation, skills and technology development, and distribution of wealth. Achieving these impacts, however, depends on the quality of the investment as much as the quantity. This chapter from the 2016 Development Co-operation Report discusses how responsible business conduct can directly contribute to achieving the SDGs, while also being good for business.

When companies involve stakeholders, such as local communities, in their decision making, it enables them to identify, and account for the impacts of their activities, and contribute to positive social and economic development. To address the challenges raised when engaging with stakeholders, the OECD is preparing a user guide on how to undertake due diligence in engaging with stakeholders for mining, oil and gas enterprises.

The OECD Due Diligence Guidance is being used as the basis and benchmark by many industry initiatives created to ensure the responsible sourcing of minerals. This report presents the findings of a pilot alignment assessment of five industry programmes against the recommendations of the OECD Guidance to gauge the coherence, effectiveness and credibility of these initiatives.

Household Saving Rate in Australia decreased to 3.60 percent in the fourth quarter of 2019 from 4.80 percent in the third quarter of 2019. Personal Savings in Australia averaged 9.44 percent from 1959 until 2019, reaching an all time high of 20.30 percent in the second quarter of 1974 and a record low of -1.70 percent in the fourth quarter of 2002. In Australia, Households Savings correspond to the ratio of household income saved to household net disposable income during a certain period of time. This page provides - Australia Households Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans to Private Sector in the United States increased to 2586.16 USD Billion in March from 2358.13 USD Billion in February of 2020. Loans to Private Sector in the United States averaged 624.33 USD Billion from 1950 until 2020, reaching an all time high of 2586.16 USD Billion in March of 2020 and a record low of 13.65 USD Billion in January of 1950. This page provides - United States Loans to Private Sector - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans to Private Sector in Australia increased to 1019.15 AUD Billion in March from 984.70 AUD Billion in February of 2020. Loans to Private Sector in Australia averaged 378.24 AUD Billion from 1976 until 2020, reaching an all time high of 1019.15 AUD Billion in March of 2020 and a record low of 20.21 AUD Billion in September of 1976. This page provides - Australia Loans to Private Sector - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia is the 12 least corrupt nation out of 175 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Australia averaged 10.12 from 1995 until 2019, reaching an all time high of 13 in 2000 and a record low of 7 in 1995. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory's rank indicates its position relative to the other countries and territories in the index. This page provides the latest reported value for - Australia Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Corporate Profits in Australia decreased to 94066 AUD Million in the fourth quarter of 2019 from 97430 AUD Million in the third quarter of 2019. Corporate Profits in Australia averaged 46897.81 AUD Million from 1994 until 2019, reaching an all time high of 98032 AUD Million in the second quarter of 2019 and a record low of 12032 AUD Million in the first quarter of 1995. In Australia, corporate profits refers to the net operating profit or loss before income tax and extraordinary items and is net of capital profits or losses arising from the sale of businesses' own capital goods and dividends received. This page provides the latest reported value for - Australia Corporate Profits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Corporate Profits in China increased to 781450 CNY Million in March from 410700 CNY Million in February of 2020. Corporate Profits in China averaged 1709740.30 CNY Million from 1996 until 2020, reaching an all time high of 7518710 CNY Million in December of 2017 and a record low of 1617 CNY Million in February of 1998. In China, corporate profits refer to total profits of all state-owned industrial enterprises and non-state-owned industrial enterprises with the annual sales revenue above 5 million yuan. This page provides - China Corporate Profits- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Agriculture in Maldives increased to 3461 MVR Million in 2018 from 3302 MVR Million in 2017. GDP From Agriculture in Maldives averaged 3008 MVR Million from 1995 until 2018, reaching an all time high of 3914 MVR Million in 2006 and a record low of 2298 MVR Million in 1995. This page provides - Maldives Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Australia decreased to 349 BBL/D/1K in January from 391 BBL/D/1K in December of 2019. Crude Oil Production in Australia averaged 463.41 BBL/D/1K from 1994 until 2020, reaching an all time high of 781 BBL/D/1K in February of 2000 and a record low of 238 BBL/D/1K in May of 2018. This page provides the latest reported value for - Australia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Wages High Skilled in Australia decreased to 6120 AUD/Month in 2018 from 6250 AUD/Month in 2015. Wages High Skilled in Australia averaged 6185 AUD/Month from 2015 until 2018, reaching an all time high of 6250 AUD/Month in 2015 and a record low of 6120 AUD/Month in 2018. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Wages High Skilled in Austria decreased to 3590 EUR/Month in 2018 from 4010 EUR/Month in 2017. Wages High Skilled in Austria averaged 3827.50 EUR/Month from 2015 until 2018, reaching an all time high of 4010 EUR/Month in 2017 and a record low of 3590 EUR/Month in 2018. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Industrial Production in Malawi decreased 12.47 percent in December of 2018 over the same month in the previous year. Industrial Production in Malawi averaged -1.09 percent from 2001 until 2018, reaching an all time high of 58.28 percent in April of 2017 and a record low of -69.10 percent in February of 2013. In Malawi, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides the latest reported value for - Malawi Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Industrial Production in Australia increased 3.80 percent in the fourth quarter of 2019 over the same quarter in the previous year. Industrial Production in Australia averaged 2.38 percent from 1975 until 2019, reaching an all time high of 12.70 percent in the fourth quarter of 1987 and a record low of -7.70 percent in the first quarter of 1983. In Australia, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides the latest reported value for - Australia Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Industrial Production in Algeria increased 5 percent in the fourth quarter of 2019 over the same quarter in the previous year. Industrial Production in Algeria averaged 1.12 percent from 1997 until 2019, reaching an all time high of 15.10 percent in the fourth quarter of 1998 and a record low of -8.80 percent in the fourth quarter of 1997. In Algeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides - Algeria Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.