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The South African economy is recovering from the crisis. Nevertheless deep structural reforms are necessary. The already strong macroeconomic policy framework should be further strengthened to resist excessive real appreciation.
19-July-2010
English, , 632kb
L’économie de l’Afrique du Sud est en phase de reprise. Des réformes structurelles en profondeur sont néanmoins nécessaires. Le cadre de politique macroéconomique déjà robuste devrait toutefois être renforcé pour résister à une appréciation excessive du taux de change réel.
Based on an endogenous growth model, we show that intermediate goods markets imperfections can curb incentives to improve productivity downstream.
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The global crisis has left the OECD area with lower potential output and a high government debt burden. Moreover, global imbalances are beginning to widen again.
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15-July-2010
English, , 117kb
The global crisis has left the OECD area with lower potential output and a high government debt burden. Moreover, global imbalances are beginning to widen again.
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Higher oil prices and the prospect of higher borrowing costs are likely to reduce the productive potential of OECD economies. The present study provides illustrative numerical estimates of the impact under different scenarios using a stylised model based on a production function.
The German banking system came under pressure during the financial crisis, not least due to its significant exposure to toxic assets which originated in the US. In the short run, the stability of the system has been achieved, as discussed in this working paper.
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G20 countries need to keep up the momentum of structural economic reform in order to boost confidence and job creation, OECD Secretary-General Angel Gurria tells G20 leaders.
Meeting of NERO, 25 June 2010
OECD Secretary-General Angel Gurría hailed the budgetary measures announced today by U.K. Chancellor of the Exchequer George Osborne as a courageous move that will underpin fiscal consolidation while supporting economic recovery.
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