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The adjustment following the crisis has been particularly painful in Southern European countries, including Spain.
The adjustment following the crisis has been particularly painful in Southern European countries, including Italy.
Germany’s recent economic performance has been solid, with record low unemployment rates and sound fiscal position, which sets it apart from many European countries.
China has shown strong resilience during the crisis, maintaining overall high growth rates, even though the pace has been decelerating since 2011.
Canada enjoys relatively high GDP per capita but productivity growth has been weak despite comparatively high investment in knowledge-based capital, a fairly competitive business environment and a reasonably well-functioning labour market.
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 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.