Rapid technological change – from digitalisation to artificial intelligence, 3D printing and nanomaterials – is transforming the way goods and services are produced and consumed. It will have profound implications for the dynamics of productivity, jobs, investment and trade over the next 10 to 15 years.
Services comprise a growing share of international trade. Yet detailed statistics on which countries trade which services with which partners remain patchy.
The global economic expansion is strengthening. Global growth is projected to increase from 3.7% in 2017 to around 4% in 2018 and 2019 in our latest Interim Economic Outlook.
In 2016 the Polish government introduced a large new child benefit, called “Family 500+”, with the aim to increase fertility from a low level and reduce child poverty. The benefit is universal for the second and every further child and means-tested for the first child. It more than doubles fiscal support for families, making Poland one of the top spenders in the EU concerning cash transfers for families.
The Polish economy is in a strong position. Economic growth reached 4.6% on average in 2017 and the OECD expects it to continue at around 4% over 2018/19.
Inequality and relative poverty in Israel remain high, particularly among Arab-Israelis and Haredim (Ultra-Orthodox).x
The Irish economy is booming and is expected to continue expanding at healthy rates over the next few years.
Today’s excellent outlook offers Israel a unique opportunity to prepare for the challenges of the future which require stronger social cohesion. Israeli society is indeed marked by large inequalities.
Governments must implement comprehensive structural reform programmes to sustain stronger, greener and more inclusive growth that will extend beyond the current cyclical upswing, according to the OECD’s annual Going for Growth report.
Poland’s economic growth remains strong. Rising family benefits and a booming jobs market are lifting household income while poverty rates and inequality are falling, says a new OECD report.
After a long period of lacklustre economic performance, robust growth has resumed.
G20 GDP growth remains stable at 1.0% in fourth quarter of 2017
The global economic expansion is strengthening, as robust investment growth, an associated rebound in trade and higher employment drive an increasingly broad-based recovery, according to the OECD’s latest Interim Economic Outlook.
Over the past two decades, strong growth combined with remarkable social progress has made Brazil one of the world’s leading economies.
In Finland, as elsewhere, income taxation and the withdrawal of benefits reduce the pay-off for individuals who go from benefits to work.
Israel’s economy continues to register remarkable macroeconomic and fiscal performance. Growth is strong and unemployment low and falling. With low interest rates and price stability, financial policy is prudent, and public debt is comparatively low and declining.
The Israeli economy continues to register remarkable performance, with strong growth, low and falling unemployment and sound public finances leading to the 15th consecutive year of economic expansion. Further reforms will be needed to drive down inequality and raise living standards for all Israelis, according to a new report from the OECD.
Chile has been one of the fastest-growing economies in the OECD in recent decades. Sound macroeconomic management, bold structural reforms, such as trade and investment liberalisation, and buoyant natural-resource sectors, supported fast convergence in living standards.However, progress has slowed: declining productivity gains are limiting prospects for rising incomes and better-quality jobs; and inequality remains stubbornly high.
The Irish economy is recovering robustly. Business investment by local firms has picked up, household consumption is reviving while the boost to jobs and a rapidly declining unemployment rate have led to strong wage growth in a number of sectors, says a new OECD report.
OECD annual inflation slows to 2.2% in January 2018
Growth is projected to reach 1.5% in 2018 after many years below one percent or negative in per capita terms. Low growth and high unemployment have adversely affected the well-being of South Africans. Since 2010, inequality, measured by the Gini coefficient at 0.62, has almost stagnated withering the social contract in a context of policy mistrust.
Brazil is emerging from its long recession and is headed for solid growth in 2018 and 2019 as recent structural reforms start to bear fruit. Sustaining this recovery, unleashing Brazil’s full economic potential and spreading the benefits fairly will require additional efforts to rein in public spending, increase trade and investment, and further focus social spending on those most in need, according to a new OECD report.
Finland enjoys a high level of income and well-being. Nevertheless, output has been dragged down by the global downturn, the decline of the electronics and paper industries and the Russian recession.
Las perspectivas de crecimiento favorable ofrecen a Chile una oportunidad para abordar sus bajos niveles de productividad comparados con los de otras economías desarrolladas, mejorar el acceso al empleo de calidad, y tomar medidas para reducir su desigualdad persistentemente alta, según un nuevo informe de la OCDE.
A favourable growth outlook offers Chile an opportunity to address its low productivity levels compared to other advanced economies, improve access to quality jobs and take steps to reduce its persistently high inequality, according to a new OECD report.
This paper investigates if higher public spending in education and better teacher qualifications are related to student’s performance, using data from Saber 11, a national standardized test conducted by Instituto Colombiano para la Evaluación de la Educación.
In Brasilia, he will present the 2018 OECD Economic Survey of Brazil, alongside Mr. Ilan Goldfajn, Central Bank Governor, Mr. Henrique Meirelles, Minister of Finance, and Mr. Dyogo Oliveira, Minister of Planning of Brazil.
Norway’s success in maintaining high living standards, low inequality and good progress in gender balance owes much to its business sector.
Norway makes substantial public investment in transport and this has intensified in recent years. There is potentially large economic benefit from such investment, particularly as good transport infrastructure can help Norway’s transition away from oil-related activities.
In Santiago, he will present the 2018 OECD Economic Survey of Chile, alongside Mr. Nicolás Eyzaguirre Guzmán, Minister of Finance of Chile.
OECD GDP growth slows to 0.6% in fourth quarter of 2017
Stable growth momentum in the OECD area
OECD household income growth picks up to 0.3% in fourth quarter of 2017 but continues to lag GDP growth
OECD household income growth continues to lag GDP growth, slowing to 0.2% in third quarter of 2017
OECD annual inflation slows to 2.3% in December 2017
Many OECD countries have been facing a prolonged period of low growth and stagnating income of the poorest. This challenges governments’ fiscal redistribution, all the more so in a context where new forms of work are calling into question the effectiveness of traditional social safety nets and population ageing is putting pressure on public finances.
Vacancy for Senior Economist, OECD Economics Department
Vacancy for Economist, OECD Economics Department
Composite leading indicators continue to point to stable growth momentum in the OECD area
Slower private consumption and investment weigh down on OECD GDP growth in third quarter of 2017
More than a quarter of adults in the United Kingdom have low basic skills, which has a negative impact on career prospects, job quality and productivity growth.
The United Kingdom displays large regional disparities in productivity compared to most other OECD countries, with a large gap between London and most other regions.
France’s health-care system offers high-quality care. Average health outcomes are good, public satisfaction with the health-care system is high, and average household out-of-pocket expenditures are low.
Thanks to a highly developed welfare state, poverty is moderate on average in France, but – as in other countries – highly concentrated in some neighbourhoods.
OECD annual inflation picks up to 2.4% in November 2017
Switzerland is among the leaders in many global rankings including on R&D, innovation, infrastructure, universities and competitiveness. It is well integrated in global value chains, specialised in some high-value-added activities and home of many large multinationals. These factors should contribute to high, and rising, labour productivity.
In its latest Economic Survey for Norway , the OECD underscores the importance of policy facilitating transition away from oil-related activities and helping businesses seize opportunities from digitalisation and globalisation, through providing i) macroeconomic and financial stability, and ii) improvements to structural-policy settings.
Redistribution is quantified as the relative reduction in market income inequality achieved by personal income taxes, employees’ social security contributions and cash transfers, based on household-level micro data.
Can reforms that shift the balance among different taxes in the revenue mix lastingly influence the overall prosperity of an economy and the distribution of income across households?
A highly educated and skilled workforce has been an important driver of productivity performance and prosperity in Belgium.