OECD Week 2015 will focus on investment, inclusive growth, innovation, the new climate economy and the Sustainable Development Goals. It includes the annual Ministerial meeting, Forum 2015 and meetings linked to G20, B20 and L20 forums, bringing together Ministers from 34 member countries and Brazil, China, India, Indonesia, South Africa with representatives from business, trade unions, civil society, academia and media.
The key challenge is to reform the labour market to promote job growth. Further labour market reforms should be the top priority. The strong protection accorded by open-ended contracts hinders labour mobility, despite the progress brought by reforms regarding mass layoffs and the introduction of the rupture conventionnelle, a mutually agreed termination procedure.
France has begun implementing a series of important pro-growth structural policy measures, but boosting medium-term growth will require more ambitious action to reform the labour market, curb high levels of public spending and taxation and create jobs, according to the latest OECD Economic Survey of France.
Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.
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This country note from Going for Growth 2015 for France identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
This report compares the performance of the French innnovation systems with that of other countries and presents the conclusions of interviews with 30 key actors in the French research and innovation system. During the past ten years, this system has undergone profound changes, and the report highlights the governments plan to dynamise and reform the system.
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France is one of the world’s five leading economies, as measured by GDP, a position that it owes in particular to its strength in a number of knowledge-intensive sectors. Yet today, six years after the onset of the economic crisis, French growth remains weak – 0.4% this year, and at best 1% in 2015, according to the latest OECD projections.
The President of the French Republic, Mr. François Hollande, met the Heads of five international economic organisations at the OECD on Friday 17th October to discuss the challenges facing the global economy.
Full implementation of the structural reforms adopted and announced in France would boost potential annual economic growth by one third, or 0.4 percentage points per year over ten years, according to the OECD.
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Enhancing the productivity and competitiveness of the French economy will demand action on innovation and research, competition, education and vocational training, as well as on the functioning of the labour market, on public-sector efficiency, and on fiscal policy.