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This paper provides a quantitative description of decoupling in OECD countries over the past two decades, with the results suggesting that it is explained by declines in both labour shares and the ratio of median to average wages (a partial measure of wage inequality).
The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region. The 2017 edition of the Outlook comprises four main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the near-term and medium-term economic outlooks, as well as macroeconomic and regional integration challenges in the region. The second part discusses the recent progress made in key aspects of regional integration. The third part presents this edition's special focus: addressing energy challenges and renewable energy development in particular. The fourth part includes structural policy country notes offering specific recommendations.
The government has rolled out major structural reforms since 2012 aimed at improving growth, well-being and income distribution. The initial wave of reforms, kicked-off by the multi-partisan political commitments in the Pacto por México, led to notable progress across a range of areas and put Mexico at the forefront of reformers among OECD countries.
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This paper explores the extent to which “zombie” firms – defined as old firms that have persistent problems meeting their interest payments – are stifling labour productivity performance.
Widespread increases in inequality over the past three decades have raised the question of whether growth in itself is a driver of income inequality.
Stronger signals of growth momentum picking-up in several major OECD economies
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Malaysia has followed a comparatively equitable development path, largely eliminating absolute poverty and greatly reduced ethnic inequality.
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Productivity growth is essential to providing sustainable increases in living standards. Malaysia has reached a development stage where growth needs to be driven more by productivity gains than the sheer accumulation of capital and labour inputs.
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Malaysia has sustained over four decades of rapid, inclusive growth, reducing its dependence on agriculture and commodity exports to become a more diversified, modern and open economy.
Mexico's macroeconomic fundamentals are solid and well administered, monetary policy is appropriate and independent and is handled in a responsible way, and the reforms are beginning to show results. Mexico is improving its capacity for growth from within. But much remains to be done to transform these reforms into inclusive growth. Much more must be done to end poverty.