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The differential between the interest rate paid to service government debt and the growth rate of the economy is a key concept in assessing fiscal sustainability.
The Czech fiscal position is generally sound and policy making is prudent. However, the fiscal framework was not strong enough to contain spending in the upturn and it would benefit from independent budget oversight.
The management of government debt and assets has important implications for fiscal positions.
Using plant-level data from the Annual Survey of Industries for the fiscal years 1998-99 through 2007-08, this study provides plant-level cross-state/time-series evidence of the impact of employment protection legislation on total factor productivity¨and labour productivity in India.
Overall, the education system fares well by international comparison. Slovenia has one of the highest shares of the population aged 25 to 64 to have completed at least upper secondary education, and ranks high in international educational achievement tests.
Bank regulation might have contributed to or even reinforced adverse systemic shocks that materialised during the financial crisis.
Notes to statistical annex tables 34-37, Sources and Methods of the OECD Economic Outlook.
Notes to statistical annex tables 1-10, Sources and Methods of the OECD Economic Outlook.
Composite leading indicators point to a slowdown in economic activity in all major economies, but with some variation in the strength of the slowdown across countries.
The 2008-09 global financial crisis did not result in the failure of any major financial institution in Israel, but it did reveal vulnerabilities in the non banking sector – particularly in the corporate bond market.