Discussions of different aspects of economic security, such as supply chain resilience, energy security and cybersecurity, have intensified in recent years. They tend to take place in distinct fora, yet they are closely intertwined. To shed light on these interlinkages and foster synergies between different expert communities, the OECD organised a workshop on Economic Aspects of National Security in February 2024, as part of the New Approaches to Economic Challenges (NAEC) work programme. This report aims to extend the discussion and provide further insights into the main topics addressed during the workshop. It builds on the expertise across the OECD Secretariat and the International Energy Agency. It discusses specific aspects of economic security in the context of heightened geopolitical tensions, high interconnectedness spurred by globalisation, and green and digital transitions. By focusing on these emerging issues, the report seeks to provide insights that facilitate informed policymaking and strategic responses to ensure economic stability and resilience in an ever-changing world.
New Approaches to Economic Challenges
The New Approaches to Economic Challenges (NAEC) initiative develops a systemic perspective on interconnected challenges with strategic partners, identifies the analytical and policy tools needed to understand them, and crafts the narratives best able to convey them to policymakers.
Economic Security in a Changing World
Die Produktion kritischer Rohstoffe ist stark auf eine kleine Zahl von Standorten konzentriert, die das weltweite Angebot dominieren
Bei kritischen Rohstoffen konzentrieren sich Produktion und internationaler Handel zunehmend auf eine kleine Zahl von Förder- und Verarbeitungsstandorten, die den Großteil des weltweiten Angebots ausmachen (Kowalski und Legendre, 2023[2]). So entfielen 2023 mehr als zwei Drittel der weltweiten Produktion von Kobalt (78 %), Lithium (92 %), Nickel (65 %) und Seltene-Erden-Elementen (90 %) auf die drei führenden Förderländer. Besonders ausgeprägt ist die Konzentration der Exporte bei unverarbeiteten Formen von Kobalt, Mangan, Boraten, Chrom, Magnesium und Lithium.
About NAEC
NAEC work plan
The OECD’s New Approaches to Economic Challenges (NAEC) initiative was established in 2012 with a view to “analysing the root causes of the global financial crisis and drawing lessons from it” and “updating the OECD’s economic analysis and policy recommendations where needed” [2012 OECD Ministerial Council Meeting Statement].
The initiative encourages an interdisciplinary approach to OECD economic and policy analysis, draws on new thinking from a range of disciplines, and supports the analytical work and policy advice that the Organisation provides to its Member and Partner countries.
The agenda for 2023-24 is centered around Policy Responses to the challenges of:
1) Economic Security
2) Climate Change
3) Social Dimension of Economic Crises
Seminars and engagement will be carried out in support of NAEC analytical work and provide the opportunity to explore other connected issues.
Innovation LAB
The Innovation Lab develops new tools to address analytical challenges, including the Weekly Tracker of Economic Activity to analyse pandemic impacts on economies with high-frequency economic data. It explores nowcasting, monitors international maritime trade, and produces indicators of consumer preferences. Additionally, it offers seminars and training to integrate these methods and tools across the Organisation.
Recent and forthcoming events:
12 March 2024 - Innovation LAB discussion
Sebastien Daniel, Vincent Haller, Benoit Bellone (all QuantCube) presented their latest paper on: Seasonal Trend and Holiday Decomposition with Loess (STAHL): A Real-Time Approach to Analyzing High-Frequency Alternative Data.
18 January 2024 - Innovation LAB discussion
Graham Pilgrim, “The new Multinational Enterprise Information Platform (MEIP)”: The OECD and UNSD introduced the MEIP to track the global activities of the top 500 MNEs using open-source data and digital metrics. This platform enables detailed analysis of MNEs' global presence, provides a benchmark for comparisons, and features a user-friendly dashboard for visualising MNE data.
23 November 2023 - Innovation LAB discussion
Yann Yves Dorville's presentation discussed using machine learning to improve macroeconomic forecasting. It covered how these models managed complex data and uncertainties in economies, focusing on clarity for economic analysis and policy.
NAEC events
20 June 2024 - Seminar on climate change, the green transition, and economic resilience
NAEC seminar on climate change, the green transition and economic resilience. It focused on the priorities for a coherent and integrated systemic approach for rapid action on the risks, impacts and global implications of climate change.
21 March 2024 – Workshop on Industrial Policies
The OECD held a workshop on industrial policies, gathering more than 300 delegates from three relevant Committees: the Committee on Industry, Innovation and Entrepreneurship, the Trade Committee and the Working Party Number 1 of the Economic Policy Committee. Discussions revolved around challenges with evaluation of industrial policies and motivations for recent industrial policy measures.
9 February 2024 – Workshop on Economic Aspects of National Security
The workshop discussed various economic, national, and cyber security risks and their potential impact on global prosperity. It explored responses countries can take and pondered future OECD work on economic aspects of national security, aiming to create a report with policy recommendations for OECD Members.
Publications and more information
Systemic thinking for policy making: The potential of systems analysis for addressing global policy challenges in the 21st century
IThe authors argue that to tackle planetary emergencies linked to the environment, the economy and socio-political systems, we have to understand their systemic properties, such as tipping points, interconnectedness and resilience. They give the reader a precise introduction to the tools and techniques needed to do so, and offer hope that we can overcome the challenges the world is facing.
Beyond growth: Towards a new economic approach
Drawing on developments across the modern field of economics and political economy, the report argues for a new approach which recognises the rootedness of economic systems and behaviour in the relationship between people, social institutions and the environment.
A systemic recovery
A systemic recovery requires an economic approach that balances several factors – markets and states, efficiency and resilience, growth and sustainability, national and global stability, short-term emergency measures and long-term structural change. To achieve this, we need to think beyond our policy silos, comprehend our interconnections, and build resilience into our systems.
The Financial System
This book publishes short summaries of a diverse range of thinking and proposals from a prestigious series of experts. NAEC invited them to share their expertise with those who wish to learn more about the financial system from those at its heart. They debate the theory and models of the financial system as well as the role of its different component parts, such as currency, insurance or asset management and how they interact. And they offer advice on how financial policy can contribute to making the financial system more resilient.