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OECD Economic Surveys: European Union 2018 by OECD Pdf
After years of crisis, the European economy is expanding robustly, and GDP growth is projected to remain strong in 2018 and 2019. With an expansion underway, attention needs to shift to Europe’s long-term challenges. Wellbeing disparities, the UK vote to exit the European Union, low potential ...
OECD Economic Surveys: European Union 2021 by OECD Pdf
The COVID-19 pandemic plunged the EU into its worst-ever recession and risks increasing inequalities, notably between regions. Thanks to a bold and innovative policy response, including a common instrument to finance national recovery plans (Next Generation EU), growth is rebounding, but ambitious reforms will be essential to heal the scars of the pandemic and succeed in the green and digital transitions.
The euro area economy is growing robustly, and GDP growth is projected to remain strong in 2018 and 2019. These improved economic conditions should facilitate further reforms needed to enhance euro area resilience to downturns and ensure its long-term sustainability. Rapid resolution of ...
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 ...
Living standards are high in Ireland, with recent improvements underpinned by the strongest post-crisis output recovery in the OECD. The economy is projected to continue expanding over the next two years, albeit at a more sustainable pace and amid heightened economic uncertainty ...
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 wide-ranging reforms to sustain progress on inclusive growth. A better focus of social expenditures towards the poor would reduce inequality and ensure sustainability of public debt at the same time. This will require difficult political choices, particularly in pensions and social transfers. Reducing economic transfers to the corporate sector, in conjunction with more systematic evaluations of public expenditure programmes, will strengthen growth, improve economic governance and limit the future scope for rent seeking and political kick-backs. Maintaining the growth potential of the economy requires stronger investment, which could also raise productivity and concomitantly, the scope for future wage increases. Simplifying taxes, reducing administrative burdens and streamlining licensing would raise investment returns, while stronger competition could generate new investment opportunities in thriving, high-performing enterprises. At the same time, trade barriers shield enterprises from global opportunities and foreign competition. Fostering a stronger integration into global trade would allow firms to become more competitive and generate new export opportunities. SPECIAL FEATURES: STRENGTHENING INVESTMENT AND INFRASTRUCTURE; FOSTERING INTEGRATION INTO THE WORLD ECONOMY
The Polish economy is expanding rapidly and living standards continue to rise, catching up with those in other OECD countries. To sustain this trend Poland needs to invest further in skills and infrastructure and develop its capacity to innovate.
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 ...
OECD Economic Surveys: European Union and Euro Area 2023 by OECD Pdf
The European recovery has been disrupted since the onset of Russia’s war of aggression against Ukraine. Co-ordinated and timely policy action helped avoid a severe downturn, but the near-term outlook is clouded by uncertainty and downside risks. Monetary and fiscal policy need to become sufficiently restrictive to reduce underlying inflationary pressures durably.
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,...
OECD Economic Surveys: Poland 2018 by Collectif Pdf
The Polish economy is expanding rapidly and living standards continue to rise, catching up with those in other OECD countries. To sustain this trend Poland needs to invest further in skills and infrastructure and develop its capacity to innovate. Indicators of scientific research quality are below those in the leading OECD countries, and business R&D investment remains weak despite rapid recent growth. Vocational training suffers from limited business engagement, and adult learning is not well developed, inhibiting citizens’ ability to acquire stronger basic and digital skills. This is holding back the economy’s capacity to innovate and the ability of Poland’s plentiful small enterprises to adopt new technologies, modernise their organisation and production procedures, and thus improve their productivity and grow. The government plans a higher education reform and the development of a skills strategy to address those issues. To help Poland confront rapid ageing, policies need to bolster seniors' and female employment, while making Poland more attractive to domestic and foreign workers alike. Poland also needs a strategy how to ensure continued financing for investment in infrastructure, skills and innovation from domestic sources should the availability of EU Structural Funds decline in the next EU budgetary cycle. SPECIAL FEATURES: INNOVATION; FINANCING INNOVATIVE BUSINESS INVESTMENT
OECD Economic Surveys: Ireland 2018 by Collectif Pdf
Living standards are high in Ireland, with recent improvements underpinned by the strongest post-crisis output recovery in the OECD. The economy is projected to continue expanding over the next two years, albeit at a more sustainable pace and amid heightened economic uncertainty primarily relating to the future trading relationship with the United Kingdom. Greater uncertainty makes it vital to further improve the fiscal position, which could be partly achieved by broadening the tax base and raising the property tax yield. Vulnerabilities in the financial sector also need to be further addressed by introducing stronger incentives for banks to reduce the high level of non-performing loans that remain on their balance sheets. The future resilience of the Irish economy hinges on unblocking the productivity potential of local enterprises and enhancing productivity spillovers; most Irish firms have experienced declining productivity over the past decade, causing the large productivity gap between foreign-owned and local enterprises to widen. Given strong international competition to attract foreign-owned firms, the economy should not be overly reliant on the performance of such entities. Improving the productivity performance of the local business sector can be achieved by reducing high regulatory barriers to entrepreneurship, further improving Irish infrastructure and raising the absorptive capacity of local businesses. Other significant challenges for wellbeing and inclusiveness exist in the areas of housing, health and getting people into work. To address these challenges, stringent housing regulations that are constraining dwelling supply should be rationalised, universal healthcare coverage provided and some social benefits withdrawn more gradually as labour earnings rise. SPECIAL FEATURE: RAISING PRODUCTIVITY
Germany has been enjoying strong economic performance. Exports have benefited from an innovative manufacturing sector. Record-low unemployment has underpinned private household demand. On aggregate, the population enjoys a high standard of living. The share of population in relative income ...
Israel's economy continues to register remarkable macroeconomic and fiscal performance. Growth is strong and unemployment is low. The external surplus is comfortable, and the public debt-to-GDP ratio, already well below the OECD average, is still falling. However, Israeli society remains marked ...
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.