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With sound framework conditions, fine universities, good infrastructure and policies friendly towards foreign direct investment, Ireland scores high in international innovation scoreboards. Overall, policies to boost innovation and entrepreneurship are on the right track, but investment in knowledge-based capital could be made a more dynamic source of growth and jobs.
China is well-placed to avoid the so-called "middle-income trap" and to continue to converge towards
the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon.
The purpose of this paper is to gain a better understanding of the role of natural capital for productivity measurement and as a source of economic growth.
Despite sustained efforts made in recent years to rein in budget deficits, a majority of OECD countries still face substantial fiscal consolidation needs. The choices made about which spending areas to curtail and which taxes to hike will have implications for near-term activity and long-term growth as well as for equity and the current account.
This working paper presents the background and the details of the simulations behind Box 1.4 of the May 2013 OECD Economic Outlook. A small simulation model is used to evaluate the contribution that the three pillars of the government’s strategy – fiscal consolidation, growth-boosting structural reforms and higher inflation – could make to reversing the rise in Japan’s public debt ratio.
This paper analyses convergence in per capita gross regional product of Russia’s regions during the period 1995-2010, when regional data are available.
Austria enjoys strong material well-being and high quality of life. Steady convergence with top GDP
per capita levels translated into decisive improvements in household disposable incomes while significant redistribution has ensured low income inequality and poverty.
As its workforce ages and major economies shift towards producing higher value-added goods and services, New Zealand will face increasing challenges to remain globally competitive and maintain high living standards. Future growth will need to come increasingly from productivity gains, and resources will have to shift towards activities that rely more on skills, technology and intangible assets.
Using a panel of OECD countries, this study assesses the linkages between structural policies and
macroeconomic stability. Business cycle and time-series characteristics of GDP and its components are
employed to define various measures for economic instability and for the persistence of adverse shocks.
OECD indicators of structural policy show that policy changes in Italy since 1998 should have improved
the environment for entrepreneurship significantly, but in the same period its economic performance has