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The financial crisis did not spare the French economy, which is facing a deep recession in 2009, even if the situation is less severe than elsewhere. Once the recovery begins, a priority will be to phase out the general government budget deficit but, given the already very heavy burden of taxes and compulsory contributions, public finance consolidation will require strict control over expenditures.
Despite the great progress France has made in opening its markets for goods and services, and in strengthening the overall framework for competition, there are still regulatory barriers to entry in many sectors, particularly in retail trade and various professional services. The emergence of real competition in the retail market for gas and electricity and in telecommunications (provision of high speed Internet through a fibre optics
France has seen a marked decline in its export performance, which is related to a series of factors, rather than to any single cause. Restoring competitiveness will require steps to strengthen the country’s growth potential and to address the main long term determinants of that potential, such as fostering research and development, promoting innovation, reducing the tax burden, boosting competition and creating favourable conditions
The authorities have undertaken numerous structural reforms since the last OECD Economic Survey was published in June 2007 and many of those reforms go in the direction of the recommendations offered at that time. These efforts will have to be pursued and the momentum of reform maintained, with the greatest challenge being to raise the employment rate of youths and seniors in order to restore the health of public finances and sustain
Several emerging-market economies have adopted inflation targeting as their institutional framework for conducting monetary policy. This volume focuses on the experiences of Brazil, Chile, Czech Republic, Indonesia, South Africa, and Turkey.
English, , 590kb
This paper examines whether regulation that is more conducive to competitive and efficient financial systems has a significant positive impact on sectoral output and productivity growth in a sample of 25 OECD countries. More specifically, following a methodology used by Rajan and Zingales (1998), the paper tests whether industries that depend more heavily on external sources of funding tend to grow faster in countries that have more
Monetary policies and inflation targeting in emerging economies: Executive Summary. Several emerging-market economies have adopted inflation targeting as their institutional framework for conducting monetary policy.
English, , 1,070kb
This paper proposes a framework for projecting public health and long-term care expenditures. It considers demographic and other (non-demographic) drivers of expenditures. The paper extends demographic drivers by incorporating death-related costs and the health status of the population. Concerning health care, the projections incorporate income and the effects of technology cum relative prices. For long-term care, the effects of
Czech, , 366kb
Silný ekonomický růst posledních let je povzbudivý a rizika spojená s inflací zvládnutelná. Existují však některé výzvy. Nejdůležitější z nich je zabezpečení fiskální udržitelnosti reformou veřejných financí tak, aby se česká ekonomika lépe vypořádala se stárnutím populace. Reformy by měly zahrnovat:• Ambicióznější stanovování cílů pro deficit rozpočtu podpořené zlepšením rozpočtování na centrální úrovni a zdokonalením fungování
Estonia is particularly well regarded in ICT network readiness and well-functioning e-government. However, the share of production in high tech and knowledge intensive sectors is relatively low.