The aim of this paper is to assess the consequences of banking crises for public debt. Using an unbalanced panel of 154 countries from 1980 to 2006, the paper shows that banking crises are associated with a significant and long-lasting increase in government debt.
Governments and central banks have implemented wide-ranging support packages in response to the global crisis. Discretionary fiscal measures, coupled with cyclical revenue losses and expenditure hikes, have resulted in a sharp increase in budget deficits, which are projected to peak at 8¼ per cent of GDP in the OECD area as a whole in 2010. How to get out of this dangerous spiral? How can we address this challenge while at the same
This review examines Québec's rural policy approach, which aims at community empowerment and land occupancy, and presents recommendations for integrating social, economic and entrepreneurial development and implementing stabilisation measures in lagging areas.
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The following executive summary describes successful practices of regulatory management and competitiveness enhancement in the British Columbia, Canada.
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The following case study describes successful practices of regulatory management and competitiveness enhancement in the state of British Columbia, Canada.
This book sheds light on the use of tax expenditures, mainly through a study of ten OECD countries: Canada, France, Germany, Japan, Korea, Netherlands, Spain, Sweden, the United Kingdom and the United States. It highlights key trends and successful practices.
This working paper is part of the OECD-Mexico initiative “Strengthening of Economic Competition and Regulatory Improvement for Competitiveness”. It summarises the findings of several case studies on best practices to promote regulatory reform and entrepreneurship at the sub-national level.
OECD's Territorial Review of Toronto, Canada. It finds that the Toronto region is one of the chief economic powerhouses of Canada, generating almost one-fifth of national GDP and 45% of Ontario’s GDP. The region is home to 40% of Canada’s business headquarters and is a main manufacturing hub, with major automotive, biomedical and electronics companies. Toronto is also one of the most diverse metropolitan regions in the world: half of its population is foreign born and it hosted 40% of all immigrants to Canada during 2001-2006.
Nevertheless, the region’s current economic development model is under pressure and its economic performance has been mixed in recent years. From 1995 to 2005, GDP per capita and GDP growth rates were below the Canadian average while its annual economic and labour productivity growth were lower than the average for OECD metropolitan regions. During this period, population growth boosted demand in the construction, sales and retail, professional and financial services sectors. However, the recent decline in the area’s manufacturing jobs has illustrated the structural difficulties of some traditionally strong areas, such as the automotive and electronics industries.
This Review proposes a new sustainable competitiveness agenda to enhance productivity, focusing on innovation, cultural diversity and infrastructure, as well as on green policies. To implement such an agenda, the Review proposes improving the current governance framework by intensifying strategic planning at the level of the Toronto region.
This Working Paper provides a comparative perspective on the application of quality regulation principles to financial sector regulators, in the US, Canada, Australia, the UK and France.
The review proposes a new sustainable competitiveness agenda to enhance productivity in Toronto. This agenda could focus on innovation, cultural diversity and infrastructure; and apply a green lens to policies.