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Russia has demonstrated good resilience during the financial and economic crisis, though the speed of convergence has been lower than in most BRIICS countries, and growth has slowed more recently.
Korea has achieved robust economic growth relative to other OECD countries since the financial and economic crisis, but its growth prospects are burdened by high levels of household debt and, in the medium term, rapid population ageing.
Turkey has demonstrated good resilience during the financial and economic crisis though growth has been slowing more recently. Policy challenges include addressing infrastructure shortfalls, improving access to quality education, and achieving a better balance in social protection in order to foster job creation and employment in the formal sector.
Mexico demonstrated good resilience during the crisis, with growth in GDP per capita stronger over the 2006-2011 period than the earlier 5-year period.
Brazil has demonstrated relatively good resilience during the crisis, like many major emerging-market economies.
The per capita income of New Zealand remains low compared to other advanced OECD countries, mostly owing to a substantial productivity gap vis-à-vis top performers.
The Japanese economy is recovering after having suffered severe shocks from the 2008 financial and economic crisis and the 2011 Great East Japan Earthquake.
Indonesia demonstrated good resilience during the financial and economic crisis. As it strives to become one of the 10 largest economies in the world by 2025, its productivity growth must be enhanced through a wide range of structural reforms to address infrastructure bottlenecks, widespread informality, shortages of skilled labour and high barriers to competition.
The United States is one of the top performers among OECD countries in terms of both productivity and labour utilisation. It has shown signs recently of a broader-based recovery taking hold with growth gaining momentum.
First published in 2005, this annual report provides an overview of structural policy developments in OECD countries from a comparative perspective.