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Greater integration into the world economy and important policy reforms have resulted in Brazil, China, India and South Africa becoming major actors in the globalisation process, with impressive results in terms of economic growth, social development and poverty reduction. But the benefits of stronger growth have not always been shared equally and income inequality has remained at very high levels.
This single-country report in the OECD series Sickness, Disability and Work explores some of the reasons behind this phenomena in Canada and the potential of its innovative recent and ongoing reforms.
Portugal has made significant progress in modernising its economy over recent years but the country needs to further pursue structural reforms to restore competitiveness and thus move to more dynamic and sustainable growth.
The South African economy is recovering from the crisis. Nevertheless deep structural reforms are necessary. The already strong macroeconomic policy framework should be further strengthened to resist excessive real appreciation.
William White, Chair, OECD Economic and Development Review Committee on tackling imbalances and avoiding another crisis.
The deep scars of the crisis can be relieved through appropriate policy action, particularly in competition, jobs, taxes and financial services. This would bolster long-term growth too.
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Special Chapter from Economic Outlook 87, May 2010
The OECD Factbook is the best-selling, innovative title from the OECD. It provides a global overview of today’s major economic, social and environmental indicators, presenting them clearly and concisely, and in a range of user-friendly formats.
The future growth path in Luxembourg is likely to be weaker than in the past. Pension reform, together with fiscal consolidation, is required to put the public finances on a sustainable footing, while adaptability of the labour market need to be improved.