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As a global economic crisis risks becoming a crisis of globalisation, this policy brief looks at the recent performance of trade and FDI, protectionist risks, appropriate policies and the role of the OECD.
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Tourism is one of the world’s largest and fastest-growing industries and its importance for economic development is widely acknowledged. What makes tourism different from many other services is that the supplier stays where he is, and the tourist comes to him rather than the supplier taking his services to the consumer. Tourism can thus play a key role in poverty alleviation, bringing jobs for unskilled or semi-skilled workers in
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Virtually all governments are keen to attract foreign direct investment (FDI). It can generate new jobs, bring in new technologies and, more generally, promote growth and employment. The resulting net increase in domestic income is shared with government through taxation of wages and profits of foreign-owned companies, and possibly other taxes on business (e.g. property tax). FDI may also positively affect domestic income through
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Globalisation raises many important challenges and is high on the policy agenda in many OECD countries. Globalisation itself is not new – the process of international economic integration has been underway for decades – but the pace and scale of today’s globalisation is unprecedented.One reason for the speeding-up of the whole globalisation process is the rapid emergence of “global value chains”. The whole process of producing goods,
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Intellectual assets have become strategic factors for value creation by firms. The expansion of the services sector, globalisation, deregulation, and the emergence of new information technologies have brought to the fore the issue of how knowledge is created, disseminated, retained and used to obtain economic returns. This has led to a structural change, from traditional scale-based manufacturing, which mainly relies on tangible
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Private investment is essential for ensuring economic growth, sustainable development and poverty reduction. It increases the productive capacity of an economy, drives job creation, brings innovation and new technologies, and boosts income growth. But the amount of private investment, particularly in African and developing economies, falls short of development needs. And the benefits of investment in emerging and transition economies
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What is sustainable development and why is it important? Most people support the idea of sustainable development, but without fully understanding what it is. Most would agree that it implies a better balance between economic, environmental and social goals, and greater fairness in distributing the gains from growth among people and countries. It also concerns preserving the environment and natural resources as a basis for progress.
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This Policy Brief describes some of the many channels of communication that are open for productive dialogue between the OECD and civil society.
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Developing countries, emerging economies and countries in transition increasingly see foreign direct investment (FDI) as a source of economic development and modernisation, income growth and employment. Countries have liberalised their FDI regime...