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This paper provides new projections of public spending on health and long-term care for OECD countries and the BRIICS countries (Brazil, Russia, India, Indonesia, China and South Africa). Despite the inevitable uncertainty surrounding projections, they suggest a rapidly rising trend over the next 50 years.
Restoring fiscal sustainability is a major challenge in Slovenia. Yet, the performance in terms of expenditure control is poor and public expenditure on social spending increased briskly during the crisis, significantly more than on average across the OECD.
Slovenia is facing the legacy of a boom-bust cycle that has been compounded by weak corporate governance of state-owned banks. The levels of non-performing loans and capital adequacy ratios compare poorly in international perspective and may deteriorate further, which could require significant bank recapitalisation.
This paper derives estimates of the efficiency of welfare spending in Slovenia and the other OECD countries from data envelopment analysis based on model specifications used in earlier OECD studies.
This paper proposes a new set of public health and long-term care expenditure projections until 2060,
seven years after a first set of projections was published by the OECD. It disentangles health from long-term care expenditure, as well as the demographic from the non-demographic drivers, and refines the previous methodology, in particular by extending the country coverage.
Well-functioning judicial systems play a crucial role in determining economic performance – notably by guaranteeing the security of property rights and the enforcement of contracts – but not all countries’ judiciaries operate at the same level of efficiency.
Unit labour costs (ULCs) in OECD countries decreased by 0.1% in the first quarter of 2013, compared with a rise of 1.1% in the fourth quarter of 2012. This was driven by lower growth of labour compensation per unit of labour input (0.3% compared with 0.9% in the previous quarter), and increased labour productivity growth (0.4% compared with minus 0.2%).
Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.7% in the first quarter of 2013 compared with 0.6% in the previous quarter, according to preliminary estimates. However, the aggregate G20 GDP growth rate continues to mask diverging patterns across the world’s largest economies.
In this paper we assess the determinants of secondary school outcomes in South Africa. We use Bayesian Averaging Model techniques to account for uncertainty in the set of underlying factors that are chosen among a very large pool of explanatory variables in order to minimize the risk of omitted variable bias.
This paper puts the original Reinhart-Rogoff dataset, made public by Herndon et al. (2013), to a formal econometric test to pin down debt thresholds endogenously. We show that the nonlinear relation from debt to growth is not very robust.