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Brazil’s economic fundamentals have improved considerably in the ten years following the abandonment of exchange rate management in 1999 and adoption of a policy framework combining inflation targeting, rules based fiscal management and a flexible exchange rate. The economy is therefore weathering the effects of the unfolding global financial and economic crisis rather well, and an incipient recovery is getting under way. The policy
Slovenia achieved strong economic growth leading to a marked catch up with the EU15 during the last decade. This dynamic growth has been interrupted by the global recession, adversely affecting Slovenian exports and banks’ refinancing possibilities. As the economy recovers, efforts to achieve real convergence need to be renewed.
The financial crisis did not spare the French economy, which is facing a deep recession in 2009, even if the situation is less severe than elsewhere. Once the recovery begins, a priority will be to phase out the general government budget deficit but, given the already very heavy burden of taxes and compulsory contributions, public finance consolidation will require strict control over expenditures.
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This paper examines whether regulation that is more conducive to competitive and efficient financial systems has a significant positive impact on sectoral output and productivity growth in a sample of 25 OECD countries. More specifically, following a methodology used by Rajan and Zingales (1998), the paper tests whether industries that depend more heavily on external sources of funding tend to grow faster in countries that have more
Monetary policies and inflation targeting in emerging economies: Executive Summary. Several emerging-market economies have adopted inflation targeting as their institutional framework for conducting monetary policy.
Several emerging-market economies have adopted inflation targeting as their institutional framework for conducting monetary policy. This volume focuses on the experiences of Brazil, Chile, Czech Republic, Indonesia, South Africa, and Turkey.
Co-operation is required between regional financial supervisory authorities to mitigate risks to financial stability as well as cyclical volatility in housing and construction. Financial stability could be strengthened by increasing households’ financial literacy.
Macroeconomic imbalances, along with the present reversals in global risk appetite and credit availability, present a risk of sudden and costly macroeconomic adjustments.
Going for Growth 2008 takes stock of recent progress in implementing policy reforms to improve labour productivity and utilisation that were identified as priorities in the 2007 edition.
Across the OECD, governments are seeking to undertake structural reforms to strengthen their economic growth. Based on a broad set of indicators of structural policies and performance, Going for Growth 2007 takes stock of the recent progress made in implementing policy reforms and identifies, for each OECD country, five policy priorities to lift growth. It calls for reforms in areas such as product and labour market regulation,