This chapter reviews the main growth challenges faced by OECD and major non-OECD countries and takes stock of the progress made since 2012 in the adoption and implementation of structural policy reforms to address these challenges. Progress is assessed on the basis of actions taken in response to Going for Growth policy recommendations. The chapter also discusses the potential effect of the reforms on policy objectives other than GDP growth, in particular public finance consolidation, narrowing current account imbalances and reducing income inequality.
This Chapter reviews the stance of regulation affecting competition in product markets of OECD and selected non-OECD countries. Based on the up-dated and revised set of indicators of product market regulation (PMR), it first provides an overview of the nature and extent of regulatory barriers to competition and reviews the areas where most progress has been achieved since 2008 in lowering these barriers. It then identifies areas where the scope for further reforms remains substantial. The PMR update reflects the stance of regulation at the start of 2013 and does not incorporate changes made since then in countries that have implemented reforms.
This chapter contains a comprehensive set of quantitative indicators that allow for a comparison of policy settings across countries. The indicators cover areas of taxation and income support systems and how they affect work incentives, as well as product and labour market regulations, education and training, trade and investment rules and innovation policies. The indicators are represented by figures showing for all countries the most recently available observation and the change relative to a previous observation. Nonetheless, they may no longer fully reflect the current situation in fast-reforming countries.
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