Product market reforms under the microscope

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

Does decentralisation foster regional GDP convergence?

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?

Achieving and sharing the benefits of globalisation

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

Global growth warning: weak trade, financial distortions

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

Enhancing Greek exports is key to jobs and growth

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

Pump-priming productivity through reform: the case of Lithuania

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

When size matters: scaling up delivery of Czech local services  

By Christine Lewis, Economist, Country Studies, OECD Economics Department A key argument for small local governments is that they can better deliver the services that their residents want and need. A key question is: what size is too small?  When is the average cost of services too high, the range of choice too narrow or … More When size matters: scaling up delivery of Czech local services  

Tackling the three main challenges in Costa Rica: fiscal reform, reverting the slowdown in productivity and reducing inequality

By Paula Garda and Mauro Pisu, Country Studies Branch, OECD Economics Department Costa Rica’s economic, social and environmental achievements are impressive. It has succeeded in combining rising living standards, virtually universal health care, pension and primary education systems with sustainable use of natural resources. Incomes per capita have nearly doubled in real terms over the … More Tackling the three main challenges in Costa Rica: fiscal reform, reverting the slowdown in productivity and reducing inequality

Reaping the benefits of global value chains to rebalance the Turkish economy

By Volker Ziemann, Economist, Turkey Desk, Country Studies Branch, OECD Economics Department The growing role of global value chains (GVCs) in international production processes is of critical importance for Turkey’s development. Participation in GVCs is one of the key drivers of successful productivity diffusion in a globalised world. Despite major progress, Turkey still lags behind … More Reaping the benefits of global value chains to rebalance the Turkish economy

Strengthening the Turkish manufacturing sector to rebalance growth

By Rauf Gonenc, Head of the Turkey Desk, Country Studies Branch, OECD Economics Department Turkey’s economy continued to grow strongly despite substantial domestic and regional headwinds. However, external imbalances have widened making the economy vulnerable to external shocks. The 2016 OECD Economic Survey of Turkey calls for rebalancing to alleviate the enduring tension between growth … More Strengthening the Turkish manufacturing sector to rebalance growth