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Chile has made major gains in prosperity. Continued reforms to labour markets will help growth to be shared more equally. Ensuring that economic gains are sustainable will require sustained efforts to foster entrepreneurship and innovation.
Young firms play a crucial role in job creation but have missed out on many of the benefits of structural reforms of the past decade in OECD countries.
Brazil has moved up the ranks of the world’s largest economies while making economic growth ever more inclusive.
We are launching today our sixth Economic Survey of Brazil. Today Brazil has one of the world’s largest economies. Its economic growth has been reasonable, even though the global economy is still facing the problems created by the financial crisis and its recovery has been hesitant and uneven.
The global scenario is less benign for the region due to a downturn in global trade, a decline in commodity prices and increased uncertainty surrounding external financing, says the new Latin American Economic Outlook.
After a decade of relatively strong growth, Latin America is facing headwinds associated with declining trade, a moderation in commodity prices and increasing uncertainty over external financial conditions, according to the latest Latin American Economic Outlook jointly produced by the OECD Development Centre, the UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and CAF - Development Bank of Latin America.
Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased further thanks to agglomeration effects.
Annual inflation in the G20 area was 3.0% in the year to August 2013, down from 3.2% in the year to July 2013.
Growth rates in the major advanced economies picked up in the first half of 2013 and should be maintained through the second half of the year. Activity is expanding at an encouraging pace in North America, Japan and the United Kingdom, while the euro area as a whole is no longer in recession.
Real GDP in the OECD area increased by 0.5% in the second quarter of 2013, compared with 0.3% registered in the previous quarter.