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Swedish economy resilient but needs to focus on productivity and human capital to keep its edge

The Swedish economy has been among the most resilient in Europe, despite the slow global recovery and high uncertainty, but challenges remain if it is to maintain high growth and well-being and extend prosperity to all, according to the latest OECD Economic Survey of Sweden.




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Action is needed to secure future livelihoods in developed and emerging economies, says the OECD Development Centre

New global trend such as jobless growth, a rising youth population and resource scarcity threaten to undo much of the progress of recent decades in securing people’s ability to make a living, according to a new report by the OECD Development Centre launched in Paris today at the OECD Global Forum on Development.




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France must continue its reform process to boost growth and jobs

France has begun implementing a series of important pro-growth structural policy measures, but boosting medium-term growth will require more ambitious action to reform the labour market, curb high levels of public spending and taxation and create jobs, according to the latest OECD Economic Survey of France.




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Effects of economic policies on microeconomic stability

This paper shows that household-level economic instability is only very loosely related to macroeconomic volatility. However, the analysis also uncovers that moving to highly competitive policies generally reduces micro-level instability.




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Abenomics’ ‘third arrow’ key to revitalising Japan’s economy

The Japanese economy is on a path to stronger growth, but fundamental structural reforms are urgently needed to promote a more robust recovery, address high levels of government debt and reverse a trend toward declining living standards, according to the latest OECD Economic Survey of Japan.




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SMEs and entrepreneurs need to diversify their funding amid continued credit constraints

Small and medium-sized enterprises (SMEs) are fundamental for inclusive growth and jobs, but they need to broaden their sources of finance in order to reduce their vulnerability to volatile credit market developments, according to two new OECD reports.




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Africa: making growth more inclusive hinges on unlocking potential of local economies, says the African Economic Outlook 2015

With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.




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Middle-class economics

In 2014, the US economy added more jobs than in any year since the 1990s. In fact, this longest streak of job growth on record has persisted into 2015. Inflation-adjusted wages are up by 1.4% annually over the last two years, more than twice the pace of the last recovery. But this is still not enough to make up for decades of subpar gains for middle-class families–a challenge shared by many other OECD economies.




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Strengthening investment key to improving world economy’s B-minus grade, says OECD

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.




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New Zealand economy performing well, but sustaining high levels of growth and well-being will require further reforms

The New Zealand economy has performed well in recent years, but bottlenecks in housing and urban infrastructure, inequalities in living standards and rising environmental pressures all pose challenges for sustaining robust growth and high levels of well-being over the long term, according to the OECD’s latest Economic Survey of New Zealand.




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Raising competitiveness and long-term growth of the Slovenian economy

Important reforms have been implemented which raised credibility of Slovenia in the financial markets and boosted confidence. But economic recovery has been sluggish, many people are unemployed and living standards still remain below the pre-crisis levels.




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Enhancing the financing of the real economy and financial stability in the United Kingdom

The banking sector in the United Kingdom (UK) was deeply affected by the crisis. Bank credit has collapsed reflecting both weak demand and tighter supply. New prudential requirements have improved the resilience of the banking sector and a number of measures were taken to support credit supply.




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Russia: progress in structural reform and framework conditions 2011-13

Since 1995 when OECD began conducting Economic Surveys of the Russian Federation many policy recommendations relating to structural reform and framework conditions have been made.




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Non-standard contracts, flexibility and employment adjustment: empirical evidence from Russian establishment data

This paper examines the use of two forms of non-standard work contracts in Russia with data from an enterprise survey for the years 2009 to 2011. Non-standard work contracts are less costly and more flexible for employers. Internal adjustment in form of wage cuts or unpaid leave is not covered by the Labour Code and earlier practices to impose such measures are less tolerated.




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Making New Zealand’s economic growth more inclusive

New Zealand generally performs well in terms of economic and social inclusion. It has high employment rates, and education and health-care systems work well for most.




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Gender equality and economic growth in India: a quantitative framework

This paper studies how public policies, including pro-women interventions, can raise female labour force participation and promote economic growth in India.




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Ireland needs to sustain reform momentum to secure economic recovery and ensure it benefits all

A strong commitment to reform and a business-friendly environment have helped Ireland return to robust economic expansion, offering the government an opportunity to heal the scars of the crisis, according to the latest OECD Economic Survey of Ireland.




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Sub-par global growth and slowdown in emerging economies requires a shift in policy action

Economic recovery is progressing in the world’s advanced economies, but stagnating world trade and deteriorating conditions in financial markets are curbing growth prospects in many of the major emerging economies, according to the OECD’s latest Interim Economic Outlook.




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Brazil faces critical moment to put economy back on track

Brazil has made remarkable social and economic progress in the past two decades, but must now overcome important challenges if it is to put its economy on a stronger, fairer, greener growth trajectory, according to two new reports from the OECD.




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Chile: Improving opportunities for all is key to a more inclusive and productive economy

A long period of economic expansion in Chile has raised living standards and dramatically reduced poverty, but more needs to be done now to ensure that the country is in a position to move to a stronger, more inclusive and sustainable growth path, according to the latest OECD Economic Survey of Chile.




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Austria's separate gender roles model was popular in the past, but is becoming a constraint for comprehensive wellbeing

Austria has a model of "separate gender roles" in work, family and life arrangements which persists despite efforts to better balance these roles.




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The time is now for a new Latin America-China partnership to foster mutual development strategies, says the Latin American Economic Outlook 2016

Latin America’s GDP growth slowdown deepened and is expected to be negative in 2015. For a second consecutive year, Latin America falls behind the average growth of OECD countries after a full decade of convergence with advanced economies, according to the Latin American Economic Outlook 2016.




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Israel’s economy is sound but it urgently needs to address productivity, inequality and poverty

Israel’s economy has strong fundamentals, but the country needs to address productivity, inequality and poverty if it wants to improve well-being and reduce socio-economic divides, according to the OECD’s latest Economic Survey of Israel.




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Global economy urgently needs a stronger and more coherent policy response to promote robust and inclusive growth

Policymakers need to deploy broad-based reform plans that incorporate monetary, fiscal, and structural policies to stimulate persistently weak demand, re-launch productivity growth, create jobs and build a more inclusive global economy, according to the OECD’s annual Going for Growth report.




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Germany: Boost investment and productivity for a stronger economy and more inclusive society

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.




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Hungarian economy expanding but reforms needed to boost skills, business investment and incomes

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.




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Global economy stuck in low-growth trap: Policymakers need to act to keep promises, OECD says in latest Economic Outlook

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.




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Czech Republic needs new reforms to boost productivity and accelerate convergence with the most advanced countries

The Czech Republic needs new reforms to boost productivity, improve economic growth and accelerate convergence toward the levels of income and well-being seen in the most advanced European countries, according to a new OECD report.




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European economy is slowly recovering but legacies of the crisis remain and new challenges are emerging

The European economy is gradually recovering but further policy action will be required to address unresolved legacies of the global economic crisis that are weighing on growth and major new concerns that have emerged, according to two new OECD reports.




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The contribution of weak investment to the productivity slowdown

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.




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US economy growing steadily but key reforms needed

The US economy is making one of the strongest comebacks in the OECD, but there are risks on the horizon, according to the OECD’s latest Economic Survey of the United States.




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Germany’s economic performance is strong but productivity and investment need a boost

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.




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Scaling new heights: achievements and future challenges for productivity convergence in Lithuania

GDP per capita in Lithuania rose from one third to two thirds of the OECD average level between 1995 and 2014, despite internal and external crises. Productivity catch-up was critical to this process, although the level of labour productivity also remains around one-third below the OECD average.




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Growing together: making Lithuania’s convergence process more inclusive

Although Lithuania’s growth has been impressive, inequality is high, the risk of poverty is one of the highest of European countries, and life expectancy is comparatively low and strongly dependent on socio-economic background.




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Turkey: Challenging times call for pushing ahead with economic reform

Turkey’s economy has proven remarkably resilient in the face of a challenging global economic context. However, further action can be taken to raise productivity and advance the shift to a more balanced, sustainable and stronger growth path that will boost living standards for the entire population, according to the latest OECD Economic Survey of Turkey.




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Scaling new heights: achievements and future challenges for productivity convergence in Lithuania

GDP per capita in Lithuania rose from one third to two thirds of the OECD average level between 1995 and 2014, despite internal and external crises. Productivity catch-up was critical to this process, although the level of labour productivity also remains around one-third below the OECD average.




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Growing together: making Lithuania’s convergence process more inclusive

Although Lithuania’s growth has been impressive, inequality is high, the risk of poverty is one of the highest of European countries, and life expectancy is comparatively low and strongly dependent on socio-economic background.




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Costa Rica: boosting productivity to sustain income convergence

Boosting national productivity to sustain the convergence process towards OECD countries living standards will hinge on creating the right conditions for domestic firms to thrive and become more innovative and productive, while maintaining the long-standing commitment to open international markets and investment.




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Does Fiscal Decentralisation Foster Regional Convergence?

Across the OECD, GDP per capita is converging. In contrast, regional disparities – or differences in GDP per capita across jurisdictions – are rising, mainly as a result of widening productivity differences. Fiscal decentralisation could help reduce them again. According to new OECD research, assigning more ownsource revenue to sub-national governments dampens regional GDP disparities and underpins regional convergence.




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The estimation of financial conditions indices for the major OECD countries

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.




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OECD Secretary-General Angel Gurría presents new OECD studies with economic and social recommendations to Peruvian President Pedro Pablo Kuczynski

Economic and social reforms undertaken over the past two decades have driven Peruvian efforts to achieve sustainable economic growth and important reductions in poverty. Against a context of weak global growth, Peru will need to diversify its economy, boost skills, reinforce productivity across the labour force and unleash the potential of all regions in order to spur more inclusive national growth.




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Tax reforms, more efficient public spending and better public governance, keys to consolidating Indonesia’s strong economic progress

Indonesia has undergone an extraordinary transformation over the past two decades, benefiting from strong growth that has lifted millions out of poverty and allowed important progress in areas such as health and education. But low levels of public spending and tax revenue are undermining the quality of social services and exacerbating infrastructure gaps, according to the OECD.




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Global Forum on Environment and Economic Growth

This Global Forum, held on 24-25 October 2016, aimed to shed light on the links between environment and economic growth, and the toolkits to quantify these links. It provided a platform to explore how a well-managed natural environment can contribute to economic growth and how an effective and efficient regulatory system can best be designed?




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The use of models in producing OECD macroeconomic forecasts

This paper firstly describes the role of models in producing OECD global macroeconomic forecasts; secondly, reviews the OECD's forecasting track record; and finally, considers the relationship between forecast performance and models.




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The gig economy will not abolish working 9 to 5

We have always had plumbers, electricians, and lawyers who do temporary work, and are not paid by a household when they are idle. However, do new apps such as Uber or Deliveroo mean the end of the 9 to 5 job, and do these platforms need to be regulated?




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Make better use of fiscal initiatives to escape low-growth trap, OECD says in latest Global Economic Outlook

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.




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Enhancing Economic Flexibility: What Is in It for Workers?

Reforms that boost growth by enhancing economic flexibility often meet strong opposition related to concerns that they may imply adverse consequences for categories of workers. This study investigates how making product or labour market regulation more flexible changes workers’ risks of moving out of employment and jobless people’s chances of becoming employed.




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Consumer Prices, OECD - Updated: 6 December 2016

OECD annual inflation picks up to 1.4% in October 2016, driven by energy prices




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Fostering productivity for income convergence in the Czech Republic

Over the past two decades, the income level of the Czech Republic has converged considerably towards the OECD average.




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Fostering productivity for income convergence in the Czech Republic

Over the past two decades, the income level of the Czech Republic has converged considerably towards the OECD average.