Tackling the financial and economic crisis

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Last updated: 6 November 2009

The global economic crisis is entering a new phase amid signs of a return to positive growth in many countries. But unemployment is likely to remain high and much still needs to be done to underpin a durable recovery. The OECD is working with the world’s governments and other organisations to get economies moving again.

>> Our strategic response to the crisis

State of the economy
	Recovery from the global recession is likely to arrive earlier than had been expected a few months ago but the pace of activity will remain weak well into next year. >> OECD and the Pittsburgh G20 Summit >> Our latest economic projections >> Our latest economic surveys by country >> Key economic statistics
Employment
	The financial and economic crisis has rapidly turned into a jobs crisis. Following the Pittsburgh G20 Summit, OECD Employment and Labour Ministers met to discuss ways to strengthen labour market and social policies in order to help workers and low income households weather the storm of the crisis. >> Governments must act decisively on jobs >> Frequently asked questions about the impact of crisis on employment >> Key statistics on employment and labour markets
Green growth and innovation
Ministers from 40 countries, representing 80% of the world economy, discussed the crisis at the OECD's annual ministerial meeting in June, ahead of the G8 Summit. OECD countries and other leading economies are looking to "Green growth" as the way forward out of the current crisis, opening up new prospects for climate-change negotiations ahead of the 15th Conference of the Parties of the UN Framework Convention on Climate Change (COP15) in Copenhagen in December. Industries are reeling, unemployment is soaring and investments vital to innovation and future growth are at risk. Governments have amassed billions of dollars in stimulus funds, but the hard work of rebuilding damaged economies has barely begun. The key to restoring long-term growth is our ability to innovate. By investing smart, governments can buffer the downturn, accelerate recovery and lay the foundation for strong and sustainable growth. >> Our work on innovation and the crisis
Tax evasion
	The global economic crisis and recent tax evasion scandals have spurred calls for fairness and transparency of the tax system. Removing practices that facilitate tax evasion is part of a broader drive to clean up one of the more controversial sides of a globalised economy. The OECD advocates exchange of information between tax authorities on request in cases of specific tax inquiries to better equip tax authorities to tackle tax evasion. >> Our work on tax evasion
Finance
	To be sustainable and equitable, growth must also be supported by good governance, with strong coordinated initiatives to promote corporate responsibility and financial education, fight bribery and corruption, promote transparency and ethics in business and government, and a clean and level playing field for investment. >> Our work on financial affairs and the crisis >> Our work on a Global Standard
Trade
	With world trade volumes likely to shrink by as much as 13 percent in 2009 from 2008 levels, the OECD is urging governments to avoid protectionist measures and keep markets open in order to benefit from the recovery when it comes. >> Trade … and the road to economic recovery >> Understanding the collapse in world trade >> Key trade statistics
Pensions
	Governments must continue reforms to ensure that public and private retirement income provision is socially as well as financially sustainable, according to the 2009 edition of the OECD’s biennial Pensions at a Glance. >> Crisis highlights the need for sweeping pension reforms >> Frequently asked questions about the impact of crisis on pensions