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.
English, PDF, 1,260kb
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.
English, PDF, 1,467kb
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.
English, PDF, 1,340kb
OECD Report to G20 Finance Ministers and Central Bank Governors, Ankara, September 2015. Given that the interests and challenges in developing infrastructure are common across countries, international good practices could help governments better seize opportunities and meet related challenges.
The G20 commitment to raise GDP by 2% in 2018 through structural reform commitments was a masterstroke - this promised concrete measures to raise living standards and put the recovery on a higher growth path. Implementation is now key and has rightly been a priority under the Turkish Presidency.
While the world experienced an exceptionally hot summer, clouds were gathering over the global economic outlook. We still expect the global growth rate to pick up next year, but the recovery remains cooler than it should be.