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Although the European authorities should be commended for the progress they have made in updating and improving frameworks and responding to the financial turmoil, more can be done.
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 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.
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.
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.
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.
This overview paper examines the financial crisis in light of past country experience and economic theory and sets out some preliminary policy recommendations.
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.
En su discurso, Angel Gurría ha subrayado que las reformas para fomentar mercados de productos más competitivos han sido más profundas en España que en el promedio de la OCDE. Durante los últimos diez años, España ha logrado una importante reducción del control estatal sobre las empresas en el ámbito de los negocios y también una reducción significativa de las barreras al “emprendimiento”, al comercio exterior y la inversión.
OECD Secretary-General Angel Gurría has welcomed the decision by G7 Finance Ministers to work towards setting up a set of common principles on integrity, transparency and propriety in global financial and business transactions.