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.
Hungary Economic Survey 2021
The COVID-19 pandemic interrupted the strong economic growth performance in 2016-19, which entailed large increases in employment and real incomes, and the lowest unemployment rate in thirty years. The swift vaccination rollout allows a faster recovery from the pandemic from mid-2021 onwards.
©Shutterstock/Yasonya
Hungary Economic Snapshot
Sweden Economic Survey 2021
Resolute policy action to protect households and businesses has mitigated the pandemic’s toll on the Swedish economy, which nevertheless contracted sharply in 2020. Growth is picking up on the back of strong manufacturing activity and exports, while vaccination brings hope for a gradual return to normality in sectors requiring face-to-face interaction.
©Shutterstock/Pommy Anyani
Sweden Economic Snapshot
Iceland Economic Survey 2021
Iceland’s economy is recovering from a deep COVID-19 recession. Fisheries and intellectual services exports are on the rise and foreign tourists are starting to come back as travel restrictions are gradually eased. The health crisis has been relatively mild so far, thanks to a smart testing and tracking strategy and a well-functioning health system.
© Reuters/Ao Thor
Iceland Economic SnapshotUseful links
- Economic Counsellors
- EDRC Timetable
- Access the EDRC Community (restricted to committee members)
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?
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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. |
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.EDRC Bureau Members
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Svein Gjedrem EDRC Chairman |
Henrik Thomasen, Denmark Vice-Chair |
Brendan McKenna, Australia Vice-Chair |
Flore de Sloover, Belgium Bureau member |
Ota Melcher, Czech Republic Bureau member |
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Tuuli Juurikkala, Finland Bureau member |
Dai Hishiyama, Japan Bureau member |
Shehana Patel, United Kingdom Bureau member |
Kevin Rosier, United States Bureau member |
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Economic Department: Country Studies Branch
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Director Tel: +33 1 45 24 87 28 |
Isabell Koske Deputy Director Tel: +33 1 45 24 17 92 |
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Pierre Beynet Head of Division Brazil, Euro Area, European Union, France, Luxembourg, Portugal, Romania, South Africa Tel: +33 1 45 24 96 35 pierre.beynet@oecd.org |
Aida Caldera Sánchez Head of Division Argentina, Belgium, Chile, Colombia, Costa Rica, Mexico, Netherlands, Spain, United Kingdom Tel: +33 1 45 24 15 67 |
Mame Fatou Diagne Head of Division Czech Republic, Germany, Hungary, Israel, Tel.: +33 1 45 24 87 46 |
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Isabelle Joumard Head of Division Austria, Canada, Greece, India, Indonesia, Tel: + 33 1 45 24 90 97 |
Vincent Koen Head of Division Finland, Iceland, Ireland, Japan, Korea, Tel: +33 1 45 24 87 79 vincent.koen@oecd.org |
Patrick Lenain Head of Division Australia, Bulgaria, China, Denmark, Estonia, Tel: +33 1 45 24 88 07 patrick.lenain@oecd.org |