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There is growing interest in the role of independent fiscal institutions, or fiscal councils, in helping to improve fiscal performance.
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU.
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.
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.
The euro area is recovering from a severe recession. The build-up of large economic, fiscal and financial imbalances poses a major challenge. A new cross-cutting approach to these policy areas, together with structural reforms, is now required to make national economies more stable.
Turkey is recovering from its most severe recession in several decades.
In the 2000s, Turkey has enjoyed rapid catching–up. This was possible despite the adverse business environment, as the semi–formal and informal economy had a significant contribution to the expansion of the private sector.
Turkey is recovering from a severe recession. Once growth gains full speed, the authorities will likely face the challenge of widening external imbalances and of ensuring a smooth functioning of the financial markets.
Although Canada remains in an advantageous fiscal position relative to many other OECD countries as the global economy recovers from the 2008/09 recession, the deterioration in the country’s public finances has been substantial.
The OECD’s latest economic survey of the Euro Area, to be published on Monday 13 December 2010, looks at how the the currency bloc has reacted to the severe recession and sovereign debt emergencies that followed the global financial crisis.