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Korea has one of the lowest tax burdens in the OECD area, reflecting its small public sector. However, rapid population ageing will put upward pressure on government spending.
Increasing productivity growth in the service sector, which accounts for 67% of employment and 58% of value added in Korea, is essential to sustain high potential growth.
The age of retirement of employees should be raised by eliminating mandatory retirement and phasing out the retirement allowance. Active labour market policies should focus on policies to expand human capital rather than wage subsidies.
The global financial crisis that emerged in mid 2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system.
This paper discusses measures to make the regulation of product markets more conducive to competition play a prominent role in the government’s “growth package” of measures to stimulate economic growth which are in the process of being implemented.
Impressive progress has been made in raising participation in early childhood education as well as tertiary educational attainment over the past 30 years. However, the inflow of poorly educated youth into the labour market is unusually heavy for a high income country.
Education outcomes need to improve to enhance long-term growth. This could be achieved by encouraging children from disadvantaged backgrounds to spend more time in pre-school...
The crisis made international financial assistance inevitable. It has at the same time provided an opportunity to implement substantial reforms.…
Slovak, , 279kb
Prijatie eura k 1. januáru 2009 je pre Slovenskú republiku významným úspechom. Tento ťažko získaný výsledok prinesie veľa prínosov, ale aj výziev. V mnohých oblastiach bude v záujme udržania vysokého tempa rastu potrebné aj v nasledujúcich rokoch prijať rozhodujúce strategické opa
At a meeting with Slovak Economists, Mr. Gurría underlined that the OECD has developed a strategic response to deal with the current situation, while at the same time addressing the interaction between different policy actions in our economies.