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This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in levels and trends.
Concern that unilateral greenhouse gas emission reductions could foster carbon leakage and undermine the international competitiveness of domestic industry has led to growing calls for carbon-based border-tax adjustments (BTAs).
This study analyses the impact of economic catching up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe.
The global crisis has left many G20 countries with an unenviable legacy of lower potential output and high government indebtedness. Global imbalances, which had narrowed during the recession, are now beginning to widen again, as the recovery takes hold.
The paper focuses on the major structural reforms necessary to prepare for euro adoption that should allow a sustainable fulfilment of the Maastricht criteria and maximisation of the ensuing various benefits.
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Speech of Mr. Angel Gurría, OECD Secretary-General
In his remarks Angel Gurría noted that key short-term task is to consolidate the emergence from recession. Looking further out, a key challenge is to make better use of South Africa’s abundant resources, both human and physical. Although growth performance has improved, South Africa stands out as having achieved no convergence on OECD average GDP per capita since 1994. The substantial civil and political liberties enjoyed in South
In his remarks Angel Gurría noted that the civil and political liberties enjoyed by South Africans are to a great extent thwarted by the burdens of joblessness, poverty, insecurity and poor education. The only way to meet the economic and social objectives of the government and the people of South Africa is to make better use of the country’s abundant resources, both human and physical, to promote and sustain faster growth.
English, , 3,449kb
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.
English, , 317kb