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Why are some policy reforms implemented while others languish? This new report aims to answer this important question by looking backwards -- at 20 structural reform efforts in 10 OECD countries, during the past two decades. This page presents the principle messages of the study.
The single market programme has already brought long–term benefits, but more can be done to enhance competitive pressures and ensure proper implementation of single market rules.
The EU needs to make the transition to a low–carbon economy, increase cross–border competition in electricity and gas markets and diversify Europe’s energy supply.
High public debt leaves virtually no room for fiscal manoeuvre to limit the impact of the crisis in Greece. The close trade and banking links established with the Balkan countries might be a risk in the near future.
Despite improved fundamentals, Mexico is hit hard by the financial crisis, being exposed to several simultaneous external shocks. A welcome, but weak, stimulus was passed for 2009, and policy will likely need to be supportive also in 2010.
After a decade of rapid growth, Russia has fallen into recession. The near term challenge is to limit the extent of the downturn, while beyond the crisis, a sounder growth model should be put in place.
Despite improvements in some areas, many aspects of Russia’s regulatory framework are still restrictive and economic performance could be enhanced by bringing regulation into line with best practices.
Competition policies are being strengthened which will improve consumer welfare and growth. However, competition in retail is hindered by unusually extensive sector regulation while the liberalisation of network sectors has been less successful than in other OECD countries.
The UK financial market has been severely affected by the financial market crisis. The crisis has exposed weaknesses in the supervisory framework as well as that for crisis management and resolution. This chapter reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms.
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This report describes why occupational pensions play a major role in OECD countries and worldwide, complementing retirement income from state sources. Their financial importance is highlighted by the volume of assets they manage on behalf of plan members, USD 22 trillion at the end of 2008. Population ageing has also led many OECD countries to undertake a wide range of pension reforms – the overall effect of which has been to reduce