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International capital mobility: Which structural policies reduce financial fragility? OECD Economic Policy Papers, No. 2
Economic downturns which have their roots in preceding credit excesses and debt overhang have tended historically to be long lasting, whether the financial sector remained healthy or not.
This project explores how the structure of international capital flows drives financial fragility, and examines how policies can help increase financial stability.
Loan creation has not recovered after the crisis owing to a combination of demand and supply factors.
How to design appropriate policies to strengthen growth and make it inclusive and sustainable over time? The policy issues highlighted in this volume - financial development,social policies, innovation, regulation and political economy issues - are relevant to all countries.
Hungarian debt level has steadily increased since 2001, with the debt-to-GDP ratio reaching about 84% at end-2011.
This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for the seven major OECD countries using Uhlig's (2005) agnostic identification procedure.
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A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment.
Going for Growth 2012 takes stock of recent progress in implementing policy reforms to improve labour productivity and utilisation that were identified as priorities in the 2011 edition.
The Czech fiscal position is generally sound and policy making is prudent. However, the fiscal framework was not strong enough to contain spending in the upturn and it would benefit from independent budget oversight.