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  • 26-June-2024

    English

    Western Balkans Competitiveness Outlook 2024: Regional Profile

    Inclusive and sustainable economic growth in the six Western Balkan (WB6) economies depends on greater economic competitiveness. Although the gap is closing gradually, the standards of living in WB6 are well below those of the OECD and EU. Accelerating the rate of socio-economic convergence will require a holistic and growth oriented approach to policy making. This is the fourth study of the region (formerly under the title 'Competitiveness in South East Europe') and it comprehensively assesses policy reforms in the WB6 economies across 15 policy areas key to strengthening their competitiveness. It enables WB6 economies to compare economic performance against regional peers, as well as EU-OECD good practices and standards, and to design future policies based on rich evidence and actionable policy recommendations. The regional profile presents assessment findings across five policy clusters crucial to accelerating socio-economic convergence of the WB6 by fostering regional co-operation: business environment, skills, infrastructure and connectivity, digital transformation and greening. Economy-specific profiles complement the regional assessment, offering each WB6 economy an in-depth analysis of their policies supporting competitiveness. They also track the implementation of the previous 2021 study's recommendations and provide additional ones tailored to the economies’ evolving challenges. These recommendations aim to inform structural economic reforms and facilitate the region’s socio-economic convergence towards the standards of the EU and OECD.
  • 13-June-2024

    English

    Managing rising subnational fiscal risks

    Subnational governments face a range of fiscal risks, defined as events whose realisation leads to significant deviations of revenue and/or expenditure from budgeted amounts. Fiscal risks reflect unforeseen macroeconomic developments, as well as structural shifts in the economy, including digitalisation and climate change. Sound management of these risks requires a comprehensive framework involving their identification, analysis, mitigation, sharing or transfer, and prudent accommodation. Within this framework, subnational governments need to strengthen their capacity to manage their own risks, but national governments also have a role to play. This includes mitigating risks created by national policies, minimising moral hazard in supporting subnational governments affected by exogenous shocks, and using their legislative powers to avert excessive subnational risk-taking. Effective intergovernmental cooperation is key to the sound management of subnational fiscal risks. The paper discusses how different levels of government can work together in applying this framework to the main types of risks. It also provides some examples of good international practices in the management of risks.
  • 13-June-2024

    English

    Riding the rollercoaster - Subnational debt in turbulent times

    With interest rates at their highest levels in two decades, subnational governments (SNGs) are grappling with growing debt sustainability concerns. This paper investigates SNGs’ financing vulnerabilities by examining their debt levels and sensitivity to interest rate fluctuations. It provides an in-depth analysis of SNG debt portfolios, with a particular focus on marketable debt or bonds. While most SNG bonds have fixed rates and long maturities, some jurisdictions are significantly exposed to interest rate and foreign currency risks. Simulations reveal that interest expenses could rise substantially for some SNGs. Yet, worryingly, the variation in borrowing costs among SNGs within countries is often limited, suggesting potential weaknesses in market discipline. To navigate these challenges, the paper briefly explores how well-crafted fiscal rules, tax autonomy, and insolvency frameworks can help mitigate risks. It also highlights the need for further assessment of bank loans, as systematic information remains scarce. The paper provides insights for policymakers seeking to address risks and inform future reforms of SNG bond markets, reinforcing market discipline and bolstering fiscal resilience.
  • 10-June-2024

    English

    Clean Energy Finance and Investment Roadmap of Thailand

    Thailand has adopted ambitious clean energy targets to meet its long-term climate goals, committing to reach carbon neutrality by 2050 and net zero greenhouse gas (GHG) emissions by 2065. Transforming Thailand’s energy system, alongside broader development objectives, is critical to meeting these goals as the energy sector accounts for 69% of Thailand’s total GHG emissions. The Clean Energy Finance and Investment Roadmap of Thailand ('the Roadmap') outlines key actions to unlock finance and investment in two clean energy sectors: (i) renewable power, with special attention to small-scale renewable power systems; and (ii) energy efficiency in buildings, with a focus on cooling applications. The two sectors were selected in close consultation with the Department of Alternative Energy Development and Efficiency (DEDE) of the Ministry of Energy of Thailand. The Roadmap provides a comprehensive overview of the progress to date, policy context and challenges to mobilise near-term finance in those sectors, as well as estimates of the finance needs to reach Thailand’s clean energy plans. The report also includes a roadmap action plan, suggesting non-prescriptive recommendations and actions that the Government of Thailand, financial institutions, energy service companies, academia and the international development community active in the country could undertake to foster clean energy investments in Thailand.
  • 6-June-2024

    English

    Multi-dimensional Review of Lao PDR - Financing Sustainable Development

    Lao People’s Democratic Republic (Lao PDR) has made significant headway on its development path over the past three decades. The country’s sustained economic growth has been led by booming commodity exports and substantial inflows of external financing. Many Laotians have seen significant improvements in their well-being. Poverty has declined as household income has increased, and many important development goals in education and health have been achieved. In the face of macroeconomic challenges, a shift from commodity-driven growth to a more inclusive prosperity paradigm that emphasises the creation of broad-based opportunities, human capital development and green sustainability can unlock Lao PDR’s future development. This report presents priorities for overcoming the country’s current fiscal constraints and finding ways to fund this shift. Recommendations address strengthening Lao PDR’s sustainable finance and debt management, revenue generation and tax reform, investment promotion, and data capacity in order to tap into green finance mechanisms.
  • 29-mai-2024

    Français

    En 2022, les pays développés ont largement dépassé l'objectif de 100 milliards USD pour le climat

    En 2022, les pays développés ont fourni et mobilisé 115.9 milliards USD pour financer l'action climatique des pays en développement. Ce faisant, ils ont pour la première fois dépassé l’objectif annuel de 100 milliards USD et déjà atteint le niveau escompté pour 2025.

    Documents connexes
  • 29-mai-2024

    Français

    Financement climatique fourni et mobilisé par les pays développés en 2013-2022

    Le rapport décrit les tendances agrégées du financement climatique annuel fourni et mobilisé par les pays développés pour l'action climatique dans les pays en développement au cours de la période 2013-2022. Il présente ces tendances par sources de financement, thèmes climatiques, secteurs, groupes de revenus et types d'instruments financiers. En outre, le rapport explore les tendances du financement de l'adaptation dans le contexte de l'appel du Pacte de Glasgow pour que les pays développés doublent le financement de l'adaptation d'ici 2025, et souligne l'importance croissante des fournisseurs multilatéraux dans le paysage du financement climatique.
  • 28-May-2024

    English

    Sustainability initiatives and responsible business conduct in Latin America and the Caribbean

    This paper analyses of the use of sustainability initiatives within the agricultural and minerals sectors across Latin America and the Caribbean. Building on a detailed mapping of almost 40 selected initiatives and insights from survey data collected from over 300 business representatives, it aims to promote consistency and deepen understanding of the landscape and role of sustainability initiatives in relation to Responsible Business Conduct. This paper identifies key trends, challenges, and opportunities, facilitating a more integrated approach to sustainability across these critical sectors.
  • 14-May-2024

    English, PDF, 666kb

    PDF OECD/INFE survey instrument to measure digital financial literacy

    OECD/INFE survey instrument to measure digital financial literacy

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  • 13-May-2024

    English

    Financial literacy in Germany - Supporting financial resilience and well-being

    The report presents the rationale for increasing the financial literacy levels of individuals in Germany and for the adoption of a National Strategy for Financial Literacy. It describes financial literacy levels, the actors directly involved in promoting financial literacy and the ongoing financial literacy initiatives at the federal, state and local levels. It provides policy recommendations for the design of the National Strategy.
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