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OECD Economic Surveys: Costa Rica 2018 by OECD Pdf
Costa Rica has achieved strong levels of well-being. However, many institutional obstacles are hampering more robust growth and the spreading of its gains more widely. Setting in motion a “virtuous cycle” of inclusive growth will require reforms across several policy areas that present win-win...
OECD Economic Surveys: Costa Rica 2020 by OECD Pdf
Costa Rica’s social and economic progress has been remarkable. Over the last 30 years, growth has been steady and GDP per capita has tripled. A strong commitment towards trade openness has been key to attract foreign direct investment and move Costa Rica up in the global value chain. Costa Rica faces substantial challenges to retain achieved successes and to continue converging towards higher living standards. The fiscal situation remains a critical vulnerability.
OECD Economic Surveys: Costa Rica 2018 by Collectif Pdf
Costa Rica has achieved strong levels of well-being. However, many institutional obstacles are hampering more robust growth and the spreading of its gains more widely. Setting in motion a “virtuous cycle” of inclusive growth will require reforms across several policy areas that present win-win opportunities in terms of equity and productivity improvements. Rebalancing spending towards early childhood and secondary education would improve outcomes and equity and also help increasing the low level of participation of women in the labour market. Costa Rica should move from the current emphasis on education spending towards outcome policy targets, supported by performance indicators. Policies to reduce labour market informality should continue, including greater enforcement of obligations to pay social security contributions and a gradual move to a smaller number of minimum wages. Eliminating unjustified exemptions from competition would boost productivity growth. Fiscal imbalances remain the major threat to growth and living standards in the medium term. A comprehensive fiscal reform package is needed to bring to a halt the fast rising debt-to-GDP ratio, including measures to increase tax revenues and curb spending, strengthen the budgetary framework with a new, operational fiscal rule and restrict earmarking. SPECIAL FEATURES: FISCAL POLICY; PRODUCTIVITY; INCLUSIVE GROWTH
Costa Rica has achieved strong levels of well-being. However, many institutional obstacles are hampering more robust growth and the spreading of its gains more widely. Setting in motion a "virtuous cycle" of inclusive growth will require reforms across several policy areas that present win-win...
OECD Economic Survey of Costa Rica: Research Findings on Productivity by OECD Pdf
This volume collects four studies that were prepared as background research to the 2018 OECD Economic Survey of Costa Rica. Using firm-level, trade and sectorial data, these studies seek to provide insights into the trends in productivity and its determinants in Costa Rica. This volume ...
OECD Economic Surveys: Costa Rica 2023 by OECD Pdf
Costa Rica recovered well from the pandemic-induced recession. Sustained and resilient export performance continues to support growth, while consumption is hindered by high inflation and unemployment. The fiscal situation improved but remains challenging, requiring sustained efforts to contain spending and boost public sector efficiency for several years.
Economic growth picked up in 2017, but reforms are needed to sustain Korea's convergence toward the income levels in the most advanced countries. Its labour productivity is 46% below the top half of OECD countries, reflecting problems in the service sector. In addition, productivity in small ...
The Finnish economy is rebounding strongly after almost a decade of lacklustre economic performance. The revival in global growth and investment, coupled with competitiveness gains, is boosting exports. Consumption remains healthy despite slow income growth and both business and residential ...
OECD Economic Surveys: Greece 2018 by Collectif Pdf
Greece is on track to recover from a deep depression. Reforms have gathered pace and fiscal consolidation has strengthened credibility, lowering uncertainty. Exports have led the expansion and labour market reforms have improved competitiveness, supporting employment growth, but wages and productivity remain low. Real investment has yet to recover due to tight financial conditions and structural impediments. The tax collection system is improving, but the tax system still relies on high rates and narrow bases, hampering growth and creating inequities. The public debt remains high and is a source of vulnerabilities. Reducing the debt ratio will hinge on raising long-term growth, maintaining prudent fiscal policy and additional debt restructuring as needed. Improving processes to negotiate employment agreements, better matching workers’ skills with workplaces’ needs, strengthening firms’ incentives to innovate and train workers in addition to continuing social protection reforms will raise employment and wages, and reduce poverty. The government has improved important areas of the investment climate, but more is required to fully implement the product market reforms already passed, improve regulatory quality and transparency, fight corruption and address informality. Reducing non-performing loans and phasing out capital controls while preserving financial stability will improve financing conditions and boost confidence. SPECIAL FEATURES: BOOSTING INVESTMENT; SUPPORTING INCOMES THROUGH EMPLOYMENT AND SOCIAL PROTECTION
Strong growth and remarkable social progress over the past two decades have made Brazil one of the world’s leading economies, despite the deep recession that the economy is now emerging from. However, inequality remains high and fiscal accounts have deteriorated substantially, calling for ...
The Spanish economy continues its strong growth, thanks to past structural reforms, robust employment growth and accommodative macroeconomic policies. However, the legacy of the crisis has not yet been fully overcome and imbalances remain.
OECD Economic Surveys: Chile 2018 by Collectif Pdf
The quality of life of Chileans improved significantly over the last decades, supported by a stable macroeconomic framework, bold structural reforms, such as trade and investment liberalisation, and buoyant natural-resource sectors. A solid macroeconomic policy framework has also smoothed adjustment to the end of the commodity boom, contributing to low unemployment, resilient household consumption and a stable financial sector. Still, progress has recently slowed and Chile’s catch-up in living standards is challenged by low and stagnant productivity and a still high level of inequality. Raising incomes and well-being further will depend on strengthening skills and greater inclusion of women and low-skilled workers in the labour force. Increasing the quality of education, reforms to ensure the training system benefits the unemployed and inactive and measures to reduce the segmentation of the labour market would enhance productivity and inclusiveness. Promising firms also still lack opportunities to grow, export and innovate, despite recent reforms to ease business entry costs and export procedures. Further simplification of trade and regulatory procedures, and reforms in the transport sector, would strengthen productivity and investment. SPECIAL FEATURES: BOOSTING EXPORT PERFORMANCE; POLICIES FOR MORE AND BETTER JOBS
India has been a growth champion in recent years and has succeeded in taming inflation, the current account deficit and non-performing loans. India's participation in the global economy has risen, with outstanding performances in some services, while the largest diaspora in the world is an asset in developing new markets. India has also lifted many millions of people out of poverty and has made access to housing for all a priority. Ambitious structural reforms -- including better targeted household support, financial inclusion initiatives, the implementation of the Goods and Services Tax, the Insolvency and Bankruptcy Code, the new approach to federalism and the corporate income tax reform -- have played a key role.
Greece’s economy had been expanding by nearly 2% for over three years before the COVID-19 shock. Structural reforms, high primary budget surpluses and debt measures underpinned Greece’s recovery and rising confidence. Then the COVID-19 pandemic struck, abruptly interrupting the recovery and adding new challenges to raising inclusiveness, competitiveness and growth.
OECD Economic Surveys: United States 2018 by OECD Pdf
The current expansion in the United States is one of the longest on record. Economic growth since the financial crisis has also been amongst the strongest in the OECD. Robust job growth has helped bring people into employment and reduce the unemployment rate. Partly as a result, wellbeing is ...