This report describes the levels of financial literacy of adults in G20 countries and the Netherlands and Norway, guest countries under the G20 German Presidency. It was presented to G20 Leaders at their 2017 Summit meeting in Hamburg on 8 July 2017.
Launched in 2014, this project will review the cost effectiveness of tax and other financial incentives, as well as assess the more efficient ways of using public money to increase savings for retirement, retirement income and replacement rates.
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30 June 2017 - Preliminary statistics for 2016 show diverging trends in terms of premiums collected by insurance companies across countries. In just over half of the reporting countries (21 out of 40), insurance companies experienced an increase in direct gross premiums written in real terms, irrespective of whether they engage in life or nonlife insurance activities. These 21 countries include 12 OECD and 9 non-OECD countries.
This report analyses insurance market statistics collected by the OECD to monitor the insurance industry’s overall performance and health. It covers all OECD countries plus selected Asian, African and Latin American countries.
On 20 June 2017, Kazakhstan became the 48th country to adhere to the OECD Declaration on International Investment and Multinational Enterprises. Adherence signals Kazakhstan's commitment to provide a fair and transparent environment for international investment and willingness to encourage the positive contribution investment can make to economic, environmental and social progress.
This review, which was prepared in response to Kazakhstan's 2012 request to adhere to the Declaration on International Investment and Multinational Enterprises (OECD Declaration), analyses the general framework for investment as well as most recent reforms, and shows where further efforts are necessary. It assesses Kazakhstan’s ability to comply with the principles of openness, transparency and non-discrimination and its policy convergence with the OECD Declaration, including responsible business conduct practices. Capitalising on the OECD Policy Framework for Investment, this review studies other policy areas that are of key relevance to investment such as SME policy, infrastructure development, trade policy as well as anti-corruption efforts. Since the first review of Kazakhstan, in 2012, the authorities have made strides in opening the country to international investment and in improving the policy framework for investment as part of their efforts to diversify the economy to avoid continued overreliance on oil. Additional policy measures are nevertheless required to create a stimulating environment for investment if the government wants to fulfil its goal of economic diversification and sustainable development.
After a decade of growth, African countries are facing a more challenging outlook, notably with commodity prices on the way down and interest rates on the way up. But our latest African Economic Outlook shows that growth is picking up, at 3.4% in 2017, up from 2.2% in 2016.
The global economy is expected to pick up moderately but greater efforts are needed to ensure that the benefits from growth and globalisation are more widely shared, according to the OECD’s latest Economic Outlook.
The OECD’s New Approaches to Economic Challenges initiative invited experts from inside and outside the Organisation to discuss complexity theory as a means to better understand the interconnected nature of the trends and influences shaping our socio-economic environment. Their contributions, brought together here, examine the assumptions, strengths and shortcomings of traditional models, and propose a way to build new ones that would take into account factors such as psychology, history and culture neglected by these models. The authors concentrate on the discipline of economics as such; the financial system; and applications of complexity theory to policy making and governance. They argue that a new narrative is needed to integrate the hopes, values, attitudes and behaviours of people into economics along with the facts and data economists are more used to dealing with.
Financial literacy is a core life skill for participating in modern society. Children are growing up in an increasingly complex world where they will eventually need to take charge of their own financial future. Financial education should start as early as possible and be taught in schools.