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Economic surveys and country surveillance

OECD Economic Surveys are periodic reviews of member and non-member economies. Reviews of member and some non-member economies are on a two-year cycle; other selected non-member economies are also reviewed from time to time. Each Economic Survey provides a comprehensive analysis of economic developments, with chapters covering key economic challenges and policy recommendations addressing these challenges.

Lithuania Economic Survey 2022

Lithuania’s economy exited the COVID-19-crisis successfully and was growing fast until early 2022, buoyed by rising exports and rapid integration into global value chains. However, with Russia’s aggression of Ukraine continuing and its consequences spreading, the outlook has darkened. Growth has slowed, and inflation has risen to some of the highest levels in the euro area, driven by high energy and food prices.

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Lithuania Economic Survey 2022

United States Economic Survey 2022

The United States economy rebounded strongly from the depths of the pandemic recession, aided by a large and enduring government policy response. However, Russia’s war against Ukraine and strong inflationary pressures have dampened the economic outlook. The administration is reinforcing public welfare through packages that invest in infrastructure and the climate transition, but an ageing population means fiscal pressures are on the horizon.

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United States Economic Snapshot

Chile Economic Survey 2022

Chile’s economy recovered swiftly from the pandemic on the back of exceptionally strong policy support, which eventually led to a significant overheating of the economy. Inflation has risen amid buoyant private consumption, further aggravated by the Russian aggression on Ukraine. Monetary authorities have acted in a timely and decisive fashion to contain inflation, and the fiscal stimulus is being withdrawn.

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Chile Economic Snapshot

Useful links

About Economic Surveys and the Economic and Development Review Committee (EDRC)

 

What is the role of the EDRC?

The Economic Surveys and the work of the Economic and Development Review Committee (EDRC) have evolved since the creation of the OECD in 1961 when the Surveys focused on short-term macroeconomic developments. Currently, the focus is mostly on policies having a potential to improve the economy’s long-run performance and people’s living standards. This involves a wide range of policy areas including labour markets, competition, innovation, human capital, financial markets, sustainable development, environmental policies, social security, corruption, taxation, health care and public spending. The hallmark of Economic Surveys is to clarify links between structural policies in these areas and macroeconomic performance.

The committee has one member from each OECD country plus the European Commission, and the final Survey reflects the OECD countries’ joint conclusions, being published under the responsibility of the whole committee. Two EDRC members lead each examination and often draw in experts from their governments or Delegations. The examined country is represented by a delegation of high-level officials from across government departments.

What are the key features of an Economic Survey?

Each Economic Survey starts with an  Executive Summary and Key Recommendations followed by the  Key Policy Insights and 1 or 2  in-depth thematic chapters. The purpose of the Executive Summary is to summarise the overall analysis underpinning the key recommendations. The objective of the key recommendations is to provide the examined country with a clear set of constructive actions to improve their economy, based on robust analytical evidence. The Key Policy Insights then build/establish the strategic and analytical links between the various key macroeconomic and structural topics. Lastly, the in-depth thematic chapter(s) provide detailed discussion on selected structural topics.

How is the Economic Survey prepared?

The draft Economic Survey is prepared by the OECD secretariat starting about one year before the final Survey is published. The work is carried out by a team consisting generally of two economists, one statistician and one assistant, in co-operation with additional specialists, and supervised by a head of division. The desk interacts with the cross-country analysis undertaken by the Economics Department and other parts of the OECD. This ensures that the Economic Surveys present state-of-the-art policy analysis on a wide range of topics. At an early stage, the team from the OECD secretariat visits the country on structural mission and meets with a wide range of government officials, academics, social partners and other experts to collect information. Later on, the same team but now headed by a senior ECO official goes on the policy mission to discuss the secretariat’s tentative conclusions with top policy makers, such as the Minister of Finance, top government officials, the central bank and also labour unions and business confederations.

How often is an Economic Survey published?

An Economic Survey is published every 18-24 months for each OECD member country and for key partner countries such as Brazil, China, India, Indonesia, and South Africa. There are also Surveys of the European Union and the Euro Area. Other countries Surveys are published on a one-off basis for countries such as Bulgaria, Romania, Tunisia and South East Asian countries - Thailand, Malaysia and Vietnam.‌

How is the Survey launched?

Once the draft Economic Survey has gone through the EDRC meeting and incorporated the views expressed during the examination it is ready for publication. Usually the public release takes place about 6 to 8 weeks after the EDRC meeting. The Survey is most often released by the Secretary General, the Chief Economist or a Director at a public press event in the member country. At this event, the Survey’s key policy recommendations are presented to key stakeholders including top government officials, journalists and academics. The Secretary General, the Chief Economist or the Director also meet with top government officials on a bilateral basis to discuss the insights from the Survey. Sometimes after the public press event, a technical seminar is held by the Secretariat to present the Survey’s findings in more detail. On the day of the release, an OECD webpage with a link to the Economic Survey and related material will be available.

What is the role of the EDRC Bureau and extended bureau?

The EDRC bureau consists of the EDRC Chair and the two Vice Chairs while the extended bureau consists of the bureau and six additional committee members. The members of the bureau and extended bureau are elected annually. The bureau and extended bureau meets to discuss the ongoing business of the Committee and to prepare proposals for the EDRC. Usually meetings takes place a couple of times per year.

EDRC Bureau Members

 

 

Chilean delegation

Svein Gjedrem

EDRC Chairman

Ota Melcher, Czech Republic

Vice-Chair

Johanna Modigsson, Sweden

Vice-Chair

 Hélène Durocher, Canada

 Bureau member

 

Marcelo Soto, Chile

Bureau member

   ‌‌German delegation  

Henrik Thomasen, Denmark

Bureau member

Cécile Mahé, France

 Bureau member

 

Christian DütschGermany

Bureau member

 

Simon Mcloughlin, New Zealand 

Bureau member

Marte Sollie, Norway

Bureau member

Economics Department: Country Studies Branch

Isabell Koske

Acting Director

Tel: +33 1 45 24 17 92

isabell.koske@oecd.org

Vincent Koen

Acting Deputy Director

Tel: +33 1 45 24 87 79

vincent.koen@oecd.org

Muge Adalet Mcgowan

Acting Head of Division

FinlandIcelandIrelandJapanKoreaNew ZealandNorwaySweden

Tel: +33 1 45 24 87 79

muge.adaletmcgowan@oecd.org

Sebastian Barnes

Head of Division

AustraliaBulgariaChinaDenmarkEstoniaItaly
LuxembourgPolandUnited States.

Tel: +(33-1) 45 24 94 21

sebastian.barnes@oecd.org

Pierre Beynet

Head of Division

Argentina, BrazilFranceHungary
LithuaniaPortugalSouth Africa, South East Asia

Tel: +33 1 45 24 96 35

pierre.beynet@oecd.org

Aida Caldera Sánchez

Head of Division

ChileColombiaCosta RicaMexico
Netherlands, Peru, SpainUnited Kingdom

Tel: +33 1 45 24 15 67

aida.calderasanchez@oecd.org

Mame Fatou Diagne

Isabelle Joumard

Head of Division

AustriaBelgiumCanada, Croatia, Greece
IndiaIndonesiaRomaniaTunisiaTürkiye

Tel: + 33 1 45 24 90 97

isabelle.joumard@oecd.org

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