By Patrice Ollivaud and Petar Vujanovic, Indonesia Desk, OECD Economics Department As described in the 2016 OECD Economic Survey of Indonesia, economic growth is expected to pick up over the course of 2016 and into 2017. Despite persistently weak external conditions, confidence is returning, with inflation moderating, a stable rupiah and government investment in infrastructure … More Funding priority spending will become increasingly challenging in Indonesia
by Patrice Ollivaud, Economist, OECD Economics Department, Pierre-Alain Pionnier, Head of Unit, OECD Statistics Directorate and Cyrille Schwellnus, Senior Economist, OECD Economics Department How was it possible not to see the Great Recession of 2008-09 coming? How could economic forecasters blindly ignore financial developments? These are typical questions asked by the media in the wake … More Forecasting GDP during and after the Great Recession
By Alberto González Pandiella, Economist, SDD, OECD Economics Department Costa Rican well-being indicators are comparable or even above the OECD average in several dimensions (OECD, 2016a). Nevertheless, gaps with OECD countries are large in two dimensions: labour market participation and education. This hampers both long-term growth prospects and equity. Boosting early childcare education and care … More Mind the gapS: boost early childcare education and care in Costa Rica
by Müge Adalet McGowan and Dan Andrews, Structural Policy Analysis, OECD Economics Department Productivity is the ultimate engine of growth in the global economy, but there has been an increasing concern about weak productivity growth in recent years. A key recent OECD work, the Future of Productivity implies that inefficient firms increasingly linger as opposed to … More Inefficient insolvency regimes: a barrier to creative destruction?
by Alexander Hijzen, Senior Economist, Directorate for Employment, Labour and Social Affairs, OECD and Peter N. Gal, Economist, Economics Department, OECD Given the secular decline in productivity growth and the persistent weakness of the economic recovery in many advanced economies, increased attention is being paid to the potential role of structural reforms for restoring economic … More Product market reforms under the microscope
by Hansjörg Blöchliger, Senior Economist, Policy Studies Branch, Economics Department The growth pattern of OECD countries and their sub-national entities is puzzling. Between-country differences in GDP per capita are declining, yet the differences across jurisdictions within those countries tend to rise. Put in other words, countries’ GDP converges, while the output of their sub-national jurisdictions … More Does decentralisation foster regional GDP convergence?
by Catherine L. Mann, OECD Chief Economist, and Ken Ash, Director of the OECD Trade and Agriculture Directorate. This post was also published by the OECD Insights blog Yesterday’s OECD Interim Economic Outlook warns that trade growth is slowing, contributing to another slowing of global GDP growth in 2016 and with few signs of improvement for … More Achieving and sharing the benefits of globalisation
By Catherine L. Mann, OECD Chief Economist The global economy remains in a low-growth trap. In our latest Interim Economic Outlook global GDP growth is set to remain flat around 3% in 2016 and improve modestly to 3.2% in 2017. This is slightly lower than the June Economic Outlook forecast due to weaker conditions in advanced economies, … More Global growth warning: weak trade, financial distortions
By Christine de La Maisonneuve, Economist on the Greek desk, Economics Department With weak domestic demand and a relatively low export share in the economy there is much potential to raise exports. Despite a recent pick-up Greek export performance deteriorated in the last decade particularly in the service sector and by much more than in … More Enhancing Greek exports is key to jobs and growth
By Ben Westmore, Economist, Country Studies Branch, OECD Economics Department In the past two decades, the income level in Lithuania has steadily risen toward that of OECD countries. Between 1995 and 2013, GDP per capita rose from one third to two thirds of the OECD average. Productivity catch-up was critical to this process, aided by … More Pump-priming productivity through reform: the case of Lithuania