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This paper provides an overview of fiscal consolidation efforts at the central and sub-central government level, both during the current and past consolidation episodes.
This study proposes a structured approach to selecting instruments of fiscal consolidation that are consistent with growth, equity and global-rebalancing objectives, which is then illustrated with a particular application.
Italy’s policy of fiscal consolidation and growth-friendly structural reforms has substantially improved its economic prospects, but the adverse sentiment that the country has faced in the sovereign bond market over the past years has deep roots.
After peaking in the first half of 2008, international imbalances declined sharply during the global
crisis of 2008-09, in part reflecting cyclical factors such as large contractions in domestic demand on the back of bursting housing bubbles in a number of deficit countries, as well as large declines in cross-border capital flows, interest rates and commodity prices.
English, PDF, 814kb
OECD Risk Management_Strategic Crisis Management paper_July 2013
The Forum addressed key challenges in designing and implementing a system that ensures compliance in a cost-effective way.
Restoring fiscal sustainability is a major challenge in Slovenia. Yet, the performance in terms of expenditure control is poor and public expenditure on social spending increased briskly during the crisis, significantly more than on average across the OECD.
The 2002 review of the United Kingdom shows that the country is confronted to challenges that are characteristic a regulatory regime that has reach maturity and is at the cutting edge. The 2010 report on Better Regulation analyses key questions for the good management of regulatory policy and reform. You will also find updated information on regulatory policy and governance in the United Kingdom.
Well-functioning judicial systems play a crucial role in determining economic performance – notably by guaranteeing the security of property rights and the enforcement of contracts – but not all countries’ judiciaries operate at the same level of efficiency.