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As in other catch-up countries inflation is likely to stay high going forward due to nominal convergence. To better cope with the risk of a too rapid pick up of wages, three main areas for improvement are discussed in this chapter.
The current crisis offers governments the opportunity of combining emergency action with the important structural reforms needed to improve long-term growth and resilience in their economies, according to OECD’s latest Going for Growth.
This paper develops and applies a simple “conditional growth” framework to make long-term GDP projections for the world economy.
Traditionally, the Norwegian compulsory education system has focused strongly on the linked goals of equal opportunities to learn, comprehensive and inclusive education.
English, , 799kb
This overview paper examines the financial crisis in light of past country experience and economic theory and draws preliminary policy recommendations.
Luxembourg is today one of the main international centres for investment funds. Besides the sector’s direct and indirect employment effects, the most important effect is the large tax revenue generating capacity of the sector, accounting directly for over 20% of aggregate tax revenues.
English, , 543kb
OECD Chief Economist, Klaus Schmidt-Hebbel's presentation on 18 November, 2008 at the OECD-World Bank joint conference on innovation and sustainable growth in a globalized world.
Despite considerable progress in many areas, there remains substantial scope for making government operations more cost-effective. Brazil spends a high share of GDP on selected government financed programmes in relation to many OECD countries and its emerging-market peers, but outcome indicators are often comparatively poor. As a result, in the absence of efficiency gains, further increases in spending would need to be financed
Stimulating competition, innovation and investment in services and fostering the employment of low-skilled workers would help increase potential output and social cohesion.
Slovenia achieved strong economic growth leading to a marked catch up with the EU15 during the last decade. This dynamic growth has been interrupted by the global recession, adversely affecting Slovenian exports and banks’ refinancing possibilities. As the economy recovers, efforts to achieve real convergence need to be renewed.