Economic Survey of Mexico 2009: Overcoming the financial crisis and the macroeconomic downturn

Despite improved fundamentals, Mexico is hit hard by the financial crisis, being exposed to several simultaneous external shocks. A welcome, but weak, stimulus was passed for 2009, and policy will likely need to be supportive also in 2010.

Financial stability in the United Kingdom: Banking on prudence

This paper reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.

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Economic Survey of Russia 2009: Stabilisation and renewed growth: Key challenges

After a decade of rapid growth, Russia has fallen into recession. The near term challenge is to limit the extent of the downturn, while beyond the crisis, a sounder growth model should be put in place.

Economic Survey of Russia 2009: Improving regulation in Russia's goods and services markets

Despite improvements in some areas, many aspects of Russia’s regulatory framework are still restrictive and economic performance could be enhanced by bringing regulation into line with best practices.

Economic Survey of Belgium 2009: Promoting competition to strengthen economic growth

Competition policies are being strengthened which will improve consumer welfare and growth. However, competition in retail is hindered by unusually extensive sector regulation while the liberalisation of network sectors has been less successful than in other OECD countries.

Economic Survey of the United Kingdom 2009: Financial stability: banking on prudence

The UK financial market has been severely affected by the financial market crisis. The crisis has exposed weaknesses in the supervisory framework as well as that for crisis management and resolution. This chapter reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.

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Private Pensions and Policy Responses to the Crisis

This report describes why occupational pensions play a major role in OECD countries and worldwide, complementing retirement income from state sources. Their financial importance is highlighted by the volume of assets they manage on behalf of plan members, USD 22 trillion at the end of 2008. Population ageing has also led many OECD countries to undertake a wide range of pension reforms – the overall effect of which has been to reduce

Economic Survey of Italy 2009: Weathering the storm: the financial system in Italy

Italy is facing strong headwinds from the international financial crisis but so far its banking system has been more resilient than in other countries. This chapter suggests that this reflects a combination of factors.

Economic Survey of Italy 2009: Supporting regulatory reform

Despite the improvement in regulatory indicators, overall productivity performance has improved very little in Italy. This chapter reviews a number of possible structural explanations.

Competition and Financial Markets

The financial sector is vulnerable to systemic loss of trust. The current crisis resulted from failures in financial market regulation, not failure of competition. Competition and stability can co-exist in the financial sector: more competitive market structures promote stability by reducing the number of banks that are “too big to fail”. Competition helps make the financial sector efficient and ensure that rescue and stimulus

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