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Almost four years since the onset of the global financial and economic crisis, unemployment and underemployment remain stubbornly high in many G20 countries, and many workers remain trapped in low-paid, often informal, jobs with little social protection.
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This note describes the structural reform commitments undertaken by G20 countries as part of the MAP and assesses their implementation. In addition, the framework offered by OECD‟s Going for Growth is used to highlight areas where additional structural reform commitments may enhance strong, sustainable and balanced growth.
Policy makers must avoid the downside scenario of a major shock to the European and global financial systems. Europe has to mobilize its strengths, and put out the immediate fires associated with the spiraling banking and sovereign debt crisis, said OECD Secretary-General.
The global crisis of 2008-09 went in hand with sharp fluctuations in capital flows. To some extent, these fluctuations may have been attributable to uncertainty-averse investors indiscriminately selling assets about which they had poor information, including those in geographically distant locations.
The global financial crisis of 2007-09 and the ensuing sovereign debt crisis in Europe provide evidence that portfolio rebalancing of financial investors can contribute to spread financial turmoil across countries.
This paper examines how structural policies can influence a country's risk of suffering financial turmoil.
Canada has weathered the global economic crisis comparatively well but will have to become more productive to sustain its high standard of living, according to OECD’s latest Economic Survey of Canada.
Quarterly Gross Domestic Product (GDP) in the G20 area grew 0.8% in the first quarter of 2012 compared with 0.7% in the fourth quarter of 2011, according to preliminary estimates. This small pick-up in aggregate G20 GDP growth still masks diverging patterns among the world's largest economies however.
The structure of a country’s external liabilities, as well as the extent and nature of its international financial integration, are key determinants of vulnerability to financial crises, according to the latest Economics Policy Paper from the OECD.
Korea, which has had the highest growth rate of greenhouse gas emissions in the OECD area since 1990, adopted an ambitious Green Growth Strategy in 2009.