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Reports


  • 26-July-2021

    English

    Extreme capital flow episodes from the Global Financial Crisis to COVID-19 - An exploration with monthly data

    The COVID-19 pandemic triggered a sudden funding squeeze manifested in major disruptions in international capital flows, the most dramatic of the wave of extreme capital flow episodes since the global financial crisis (GFC). This paper contributes to efforts to better understand this extreme episode in the context of post-GFC structural financial changes. To do so, it presents a new monthly dataset of gross capital flows for 41 countries, better suited to the identification of sudden shocks than quarterly Balance of Payments data. Leveraging on this dataset, the paper first develops a more precise identification of extreme capital flow episodes since the GFC and revisit their drivers, asking whether COVID-19 episode significantly changed recent findings of the weaker role of global factors. The answer is no. Rather, the role of global factors may have further lost explanatory power in the post-GFC period including COVID. On the other hand, pull factors such as pre-COVID vulnerabilities and country-specific and pandemic-specific factors appear key to explaining the identified cross-country heterogeneity.
  • 20-July-2021

    English

    Space technology transfers and their commercialisation

    This paper examines space technology transfers and their commercialisation, focussing on transfers from publicly funded space programmes to different sectors of the economy. It notably compares practices from Europe, North America and Asia for the first time. It identifies the conditions for enabling successful space technology transfers, as well as the most common channels for commercialisation. The paper also reviews methodological issues in measuring and assessing the benefits of transfers, and provides recommendations to develop improved and internationally comparable evidence. The analysis benefits from original content and endorsement from some of the most active space agencies in OECD countries and beyond.
  • 13-July-2021

    English

    Strengthening Economic Resilience Following the COVID-19 Crisis - A Firm and Industry Perspective

    The crisis triggered by the COVID-19 pandemic has been unlike any other the world has experienced, requiring social distancing and restrictions on mobility, and rendering some economic activity impossible. This publication explores and compares the characteristics that have affected the ability of firms, workers and consumers to maintain production, employment and consumption during the COVID-19 crisis, across industries and countries. It takes an analytical forward-looking perspective, considering a broad collection of indicators and evidence to guide policies. The aspects covered centre around topics of business dynamics; productivity; innovation and digital technologies; interconnectedness; inclusiveness; and skills. The report incorporates both a short-term perspective – analysing the supply restrictions and lockdowns that have characterised containment responses – and a medium- to long-term view, focusing on changes in demand that have arisen through recessionary effects and changes in preferences. The purpose of this publication is to provide insights to policy makers in three ways. First, by providing an overview of the different channels through which the crisis has affected firms differently across industries; then, by identifying country characteristics which may mediate these channels and mitigate or amplify the impacts of this and future shocks on the economy; and finally, by exploring systematic differences in the impact across population subgroups and the implications for policy.
  • 12-July-2021

    English

    OECD Compendium of Productivity Indicators

    This Webbook provides a set of cross-country comparable statistics on labour productivity levels, the contributions of labour, capital services and multifactor productivity (MFP) to GDP growth, industry contributions to labour productivity growth, labour productivity gaps between SMEs and large firms, the evolution and composition of investment, the decoupling between real wages and productivity, and labour income share developments. It also includes a special chapter on productivity measurement and analysis at the time of the COVID-19 pandemic.
  • 12-July-2021

    English

    OECD Investment Policy Reviews: Uruguay

    In July 2020, the Investment Committee recommended to Council to invite Uruguay to become the 50th adherent to the OECD Declaration on International Investment and Multinational Enterprises. This OECD Investment Policy Review of Uruguay documents the progress made in recent years to align investment policies with the national development strategy in pursuit of the Sustainable Development Goals (SDGs). The Review also assesses remaining challenges in improving the business climate, in particular the actions needed to establish an enabling responsible business environment and ensure full application of the Declaration. Uruguay’s success in attracting more and better investment will make its economy more resilient and better prepared to accelerate the recovery after COVID-19.
  • 8-July-2021

    English

    Production Transformation Policy Review of Egypt - Embracing Change, Achieving Prosperity

    Egypt is one of Africa’s industrial heavyweights. Transforming the country's economy to sustain job-rich and sustainable growth are pivotal steps in its march towards prosperity. Today’s search for new development models, accelerated by the unfolding of the COVID-19 pandemic, calls for shifting up a gear in raising Egypt’s industrial capabilities to compete in an industry 4.0 and agro 4.0 landscape. The Production Transformation Policy Review (PTPR) of Egypt uses a forward-looking framework to assess the country's readiness to embrace change. This includes an analysis of the game-changing potential of the African Continental Free Trade Area (AfCFTA) and perspectives on agro-food and electronics (i.e. what in Egypt is referred to as part of the engineering sector), as well as identifying priorities for future reforms. This review is the result of government-business dialogue, and benefited from peer learning from Italy and Malaysia. It also resulted from international and multi-stakeholder knowledge sharing through a dedicated Peer Learning Group (PLG) and the OECD Initiative for Policy Dialogue on Global Value Chains, Production Transformation and Development.
  • 30-June-2021

    English

    Perspectives on Global Development 2021 - From Protest to Progress?

    Since its first edition in 2010, the OECD Development Centre's Perspectives on Global Development report has tracked development trends and policy priorities in developing countries. This new report examines the phenomenon of discontent. Between the global financial crisis and the COVID-19 pandemic, discontent surged around the world. It was especially evident in middle-income countries and was often most acute amongst the middle classes that have emerged in developing countries over recent decades. The report explores the economic, political and sociological drivers of discontent and argues that building back better from the COVID-19 pandemic in developing countries will require approaches that simultaneously improve citizens' well-being, promote productive transformation and strengthen social cohesion. The report concludes by examining the international dimension of discontent and demonstrates how weaknesses and imbalances in the present multilateral system are eroding humankind's capacity for collective action in the face of global threats, notably the climate crisis. The rise in discontent has exposed failings in prevailing economic, social and political models at all levels: addressing discontent means fixing these systems, and doing so in an inclusive and sustainable manner.
  • 29-June-2021

    English, PDF, 3,329kb

    OECD Code of Liberalisation of Current Invisible Operations

    This publication presents the full text of the Code of Liberalisation of Current Invisible Operations under which adhering countries have accepted legally binding obligations.

  • 28-June-2021

    English

    OECD SME and Entrepreneurship Outlook 2021

    Small and medium-sized enterprises (SMEs) and entrepreneurs have been hit hard during the COVID-19 crisis. Policy responses were quick and unprecedented, helping cushion the blow and maintain most SMEs and entrepreneurs afloat. Despite the magnitude of the shock, available data so far point to sustained start-ups creation, no wave of bankruptcies, and an impulse to innovation in most OECD countries. However, government support has been less effective at reaching the self-employed, smaller and younger firms, women, and entrepreneurs from minorities. Countries were not all even in their capacity to support SMEs either. As vaccine campaigns roll out and economic prospects brighten, governments have to take the turn of a crisis exit and create the conditions to build back better. The OECD SME and Entrepreneurship Outlook 2021 brings new evidence on the impact of the crisis and policy responses on SMEs and entrepreneurs. It reflects on longer-term issues, such as SME indebtedness or SME role in more resilient supply chains or innovation diffusion. The report contains country profiles that benchmark impact, factors of vulnerability, and sources of resilience in OECD countries, and give a policy spotlight on liquidity support and recovery plans for SMEs.
  • 28-June-2021

    English

    The future of investment treaties - possible directions

    As our societies face new challenges and make new demands from policies addressing international investment, there is a new urgency to profoundly reconsider treaties addressing investment. This paper was prepared originally as background for initial inter-governmental and public discussions at the OECD about future investment treaties as well as possible alternatives. The paper surveys potential roles for treaties addressing investment in (i) contributing to sustainable development and responsible business conduct; (ii) preserving and improving investment market access and liberalisation of investment, and facilitating FDI; (iii) regulating subsidised state-owned enterprises, competition in subsidies for investment, and digitalisation; and (iv) addressing the interests of treaty-covered and other investors in reasonable legal predictability and a level playing field, together with the need for policy space and public support for treaty policy. It considers potential use of more flexible and varied remedies and implementation mechanisms. A final section briefly considers treaty policies as governments and societies confront the urgent challenge of climate change.
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