The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures creates important challenges. Fiscal consolidation requires choices to be made about how much consolidation is needed, how fast it should be implemented and which instruments should be used.
The economic crisis has led to a surge in government deficits and pushed public indebtedness to 100% of GDP for the OECD as a whole in 2011. New research shows that bringing debt down to prudent levels will require sustained fiscal consolidation in most OECD countries.
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Fiscal consolidation: How much is needed to reduce debt to a prudent level? OECD Economics Department Policy Notes, No. 11
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Large fiscal challenges will pre-occupy OECD governments for some time to come. The economic crisis that began in 2008 caused deficits to surge, and fiscal imbalances were swollen further by stimulus measures and bank rescue operations.
The Regulatory Policy Committee took place on 11-12 April 2012 at the OECD headquarters. Delegates from the OECD participated as well as from Brazil, Columbia, Egypt, Indonesia, Malaysia, Russia, Tunisia and Viet Nam.
Norway’s dual income tax system achieves high levels of revenue collection and income redistribution, without overly undermining economic performance and while paying attention to environmental externalities.
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This paper is part of the regional development working paper series covering water governance in Latin America and the Carribbean (LAC) countries.
The review presents an overview of recent trends, regional policies and governance arrangements of the region, made up of four counties in South-East Sweden: Jönköping, Kronoberg, Kalmar, Blekinge.
Topics at the 5th annual OECD meeting on public-private partnerships include the role of supreme audit institutions, press treatment of PPPs, and new developments in the accounting framework.
This conference offers a timely opportunity to rethink the approach to regional growth and define new strategic directions for regional policy.