Structural reforms – together with monetary and fiscal policies – are essential to achieving the G20 objective of strong, sustainable and balanced growth. They have been at the heart of the OECD’s work for more than 30 years and courageous decisions at different times in our countries – Canada, Germany, Korea and Spain to name but four – have delivered stronger and more inclusive growth for our citizens.
The world economy is stuck in a low-growth trap. We project global GDP growth to remain at only around 3% this year, and barely better in 2017.
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The G-20 is falling short of its objective of Strong, Sustainable and Balanced Growth. Structural reforms, together with appropriate demand policies and financial regulation, can address these shortcomings. This paper provides evidence for the structural report priorities of the G-20.
Remarks made at Session II - Framework for Strong, Sustainable and Balanced Growth at the G20 Finance Ministers’ and Central Bank Governors’ Meeting
Getting back to healthy and inclusive growth calls for urgent policy response, drawing on monetary, fiscal, and structural policies working together
The global economy is, again, going through very challenging times as highlighted by our updated OECD economic outlook. Let me concentrate on the challenge of slow productivity gains, which is central to the difficulties we are currently experiencing.
Policymakers need to deploy broad-based reform plans that incorporate monetary, fiscal, and structural policies to stimulate persistently weak demand, re-launch productivity growth, create jobs and build a more inclusive global economy, according to the OECD’s annual Going for Growth report.
More than ever, having run out of room on monetary policy and having used up most of the existing room on fiscal policy, the G20 should go structural, go social and go green to deliver better policies for better lives.
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Rising income inequality in many G-20 economies is a major economic and social challenge. This note sets out a framework and policy advice to achieve more inclusive growth.
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Presented to G20 Finance Ministers and Central Bank Governors in September 2015, this report is about the relationship between corporate governance and corporate access to capital markets with a focus on growth companies that have the potential to escape a static state of being an SME. It provides an extensive empirical overview of how corporations enter and use public equity markets and corporate bond markets.