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Closing the income gap with the OECD and enhancing distribution of growth requires reforms in many fronts. Better functioning labour and product markets and investment in skills and infrastructure would boost productivity, while well-designed social and education policies can reduce inequalities
The extent of competition in product markets is an important determinant of economic growth in both developed and developing countries.
As a result of reforms and financial sector development, the People’s Bank of China (PBoC) now exerts significant control over money market interest rates.
The euro area financial system took excessive risks during the global credit boom, which in some countries led to an unsustainable increase in credit, higher asset prices and housing booms.
Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union.
There is growing interest in the role of independent fiscal institutions, or fiscal councils, in helping to improve fiscal performance.
This paper considers the increase in current account imbalances in euro area countries since the early 1990s.
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU.
This paper tests the hypothesis that, by giving people more voice in the government decision-making process, fiscal decentralisation fosters social capital, measured in terms of interpersonal trust.
Despite large differences across countries, Latin America’s average investment-to-GDP ratio and the overall quality of infrastructure in the region are relatively low by international comparison.