I am delighted to open this Global Forum on Competition, which every year brings together competition authorities from all over the world. In today’s world of persistent low growth, high unemployment, rising inequality, and eroding trust, this meeting serves as an opportunity to explore how competition policy can enhance productivity, promote job creation and stimulate much-needed inclusive growth.
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Fostering competition can be a challenge given the small size of the Icelandic economy. In a number of important sectors, such as financial services, food and telecoms, only a few firms operate.
Innovation is key to boosting economic growth in the face of a rapidly ageing population. While Japan spends heavily on education and R&D, appropriate framework conditions are essential to increase the return on such investments by strengthening competition, both domestic and international, and improving resource allocation.
A joint venture between the Korean government and the OECD, the Centre works with competition authorities in the Asian region to develop and implement effective competition law and policy. Read more about the Centre's work.
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.
Governments can affect the way markets function, sometimes to the detriment of free competition. Ensuring a level playing field is therefore essential to allow competition to work properly. In June 2015, competition experts and delegates debated the challenges arising from state interventions in the market and what competition authorities can do to address the distortions that such interventions can create.
The OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work.
The share of the tertiary sector in China’s value added has increased steadily, overtaking the share of the secondary sector in 2013. With increasing incomes, the share of services is expected to grow further as at higher incomes a larger share of income is spent on services.
Since the return to democracy in 1999, Nigeria has embarked upon an ambitious reform programme towards greater economic openness and liberalisation. As a result, gross domestic product growth picked up consistently, never going below 5% since 2003. Nigeria has become a top recipient of foreign direct investment in Africa, with inflows having surpassed those to South Africa since 2009. The federal government’s Transformation Agenda recognises private sector development as the main engine for economic growth and includes bold investment reforms. Growth has however not yet been translated into inclusive development and the investment climate still suffers from severe challenges.
This Investment Policy Review examines Nigeria’s investment policies in light of the OECD Policy Framework for Investment (PFI), a tool to mobilise investment in support of economic growth and sustainable development. It provides an assessment and policy recommendations on different areas of the PFI: investment policy; investment promotion and facilitation; trade policy; infrastructure investment; competition; corporate governance and financial sector development. It also includes a special chapter analysing the PFI in Lagos State. The Review follows on the request addressed by the Minister of Industry, Trade and Investment of Nigeria to the OECD Secretary-General in December 2011. It has been prepared in close co-operation with the Federal Government of Nigeria and Lagos State Government.
Improving public sector efficiency can help to meet two conflicting objectives: ensuring fiscal consolidation and maintaining room for growth-friendly spending.