Corrigenda to statistical annex tables, Sources and Methods of the OECD Economic Outlook.
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General assessment of the macroeconomic situation
Putting the euro area on a road to recovery
The global economy remains stuck in low gear, but is expected to accelerate gradually if countries implement growth-supportive policies. Widening differences across countries and regions are adding to the major risks on the horizon.
The global economy remains stuck in low gear, but is expected to accelerate gradually if countries implement growth-supportive policies. Widening differences across countries and regions are adding to the major risks on the horizon, according to the advanced G20 release of the OECD’s latest Economic Outlook.
The downturn in fixed investment among advanced economies from the onset of the global crisis was unusually severe, widespread and long-lasting relative to comparable episodes in the past. As a result, investment gaps are large in many countries, not only in relation to past norms but also relative to projected future steady-state levels, with a gap of 2 percentage points of GDP or more in several countries.
This paper provides a detailed description of recent research to re-estimate and re-specify the international trade volume and price equations that are used in the OECD Economics Department to analyse and project international trade developments.
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The composition of global output will continue to shift towards emerging economies as well as towards Asia; the combined GDP of China and India was 33% of that of the OECD in 2010 (on a PPP basis), but is expected to rise to 73% by 2060.
The global economy will strengthen over the coming two years, but urgent action is still required to further reduce unemployment and address other legacies from the crisis, according to the OECD’s latest Economic Outlook.
Industrial specialization has important implications for economic performance; therefore, understanding its determinants is of key policy relevance.