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.
The global economy is stuck in a low-growth trap that will require more coordinated and comprehensive use of fiscal, monetary and structural policies to move to a higher growth path and ensure that promises are kept to both young and old, according to the OECD’s latest Global Economic Outlook.
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.
This paper analyses the effects of the Greek crisis on inequality and poverty in 2009-2014 using the micro-simulation model EUROMOD.
World trade growth was rapid in the two decades prior to the global financial crisis but has halved subsequently.
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.
A key recent OECD work, the "Future of Productivity" implies that inefficient firms increasingly linger as opposed to exit the market, despite their inability to adopt new technologies.
This paper seeks to provide up to date financial conditions indices for six countries, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as the euro area, updating earlier results by the OECD.
Expansionary fiscal initiatives and maintaining trade openness are needed to push the global economy out of today’s low-growth trap, according to the OECD’s latest Global Economic Outlook.
A policy framework that does not unduly inhibit the creative destruction process is vital to sustaining productivity growth. Yet, a key question is what happens to workers who lose their jobs due to this process and what are the policies that minimise the costs of worker displacement?
What happens to workers who lose their jobs due to firm exit – how quickly are they re-employed and what are the policies that can aid this process?
Well-known global companies such as Google, Apple and Amazon of the digital era as well as more traditional ones of the likes of BMW, L’Oreal and Nestlé have recorded impressive productivity gains over the 2000s as they created more and more revenue per employee. At the same time, aggregate productivity growth in the OECD – that reflects the performance of all businesses not just the few most successful ones – has stagnated.
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.
Global economic growth is expected to pick up modestly next year to around 3.6 % from a projected 3.3% in 2017 but risks of rising protectionism, financial vulnerabilities, potential volatility from divergent interest rate paths and disconnects between market valuations and real activity hang over the outlook, according to the OECD.
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.
The global economy is expected to pick up moderately but greater efforts are needed to ensure that the benefits from growth and globalisation are more widely shared, according to the OECD’s latest Economic Outlook.
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 Slovak Republic continues exhibiting robust economic performance, with strong growth backed by a sound financial sector, low public debt and high international competitiveness drawing on large inward investment.
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.
The Slovak Republic continues to exhibit robust economic performance. International competitiveness is strong, fiscal and financial policies are prudent, poverty and income inequality are low, and the country’s environmental footprint has improved markedly. Employment is rising, prices have been stable, and the external account is near balance.
Financial globalisation has given international capital flows a central role in the functioning of the global economy and has therefore led to considerable economic research over the past 30 years.
International trade plays an important role in the Estonian economy. Around a half of the private sector employment is sustained by foreign demand, twice as much as the OECD average.
Estonian growth is picking up again strongly in 2017 and the level of activity has finally surpassed its pre-crisis level, almost 10 years after the outset of the financial crisis. However, poverty remains among the highest in 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.
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.
Since the crisis, Estonia has experienced one of the most pronounced declines in the ratio of non-residential investment to GDP in the OECD.
Estonia is highly integrated into the global trade system: it exports approximately 80% of GDP and around half of domestic employment is sustained by foreign demand.
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).
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.
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.
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.
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.
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.
Income inequality has increased in most OECD countries over the past two decades. This has come about both because incomes before taxes and transfers have become more unequally distributed, and because the extent of redistribution through taxes and transfers has fallen.