by Ben Westmore, China Desk, OECD Economics Department The goal of the Chinese government to achieve a “moderately prosperous society in all respects” by 2020 is centred around improving social welfare throughout the population. One of the essential ingredients to doing this is a further reduction in economic inequality. As underlined in the OECD 2017 … More An immediate Chinese challenge: further addressing vast income inequality
by Alain De Serres and Nicolas Ruiz, Structural Surveillance Division, OECD Economics Department The support for governments’ pro-growth structural reform agenda is being undermined by the prolonged period of stagnating living standards that has affected a large share of the population in many countries. Growing political headwinds are clearly one factor contributing to the steady … More Going for Growth 2017: Policies for growth to benefit all
By Yosuke Jin, Spain Desk, Country Studies Branch, OECD Economics Department Poverty has risen in Spain in the wake of the crisis (Figure 1), mainly due to lack of quality jobs that provide enough hours of paid work to support decent incomes (OECD, 2017). The risk of poverty is concentrated on jobless households and households … More Reducing poverty durably is a key challenge in Spain
By Catherine L. Mann, OECD Chief Economist and Head of Economics Department Global growth is projected to pick up to around 3½ per cent in 2018, from just under 3% in 2016 in our latest Interim Economic Outlook. The forecast modest recovery is supported by fiscal initiatives in major economies and broadly unchanged from the November … More Will risks and financial vulnerabilities derail the modest recovery?
by Philip Hemmings and Vassiliki Koutosgeorgopoulou Australia’s economy has enjoyed considerable success in recent decades, gross domestic product per capita is high and the country generally ranks favourably in well-being. Despite the end of the global commodity super-cycle, the economy continues to perform well. The rebalancing of economic activity from commodity investment to other activities is … More Australia’s economy, good track record but challenges ahead
By Isabelle Joumard, Head of the India desk, OECD Economics Department Promoting inclusive growth in India requires improving social and physical infrastructure. Public spending needs are large: only 40% of the population had access to sanitation facilities in 2015; public spending on health is just above 1% of GDP, compared to 7% on average in … More Efficient, Equitable and Enforceable: three “Es” for reforming India’s tax system and better finance public services
by Christophe André, Swedish Desk, Country Studies Branch, OECD Economics Department As shown in the Economic Survey, Sweden ranks among the OECD’s frontrunners in terms of gender equality. Women have a high employment rate, outperform men in education and are well represented in government and parliament. These achievements were made possible by policies which for … More Sweden is a champion of gender equality, but parity is not reached yet
By Christophe Andre, Swedish Desk, Country Studies Branch, OECD Economics Department The Swedish economy has been growing at over 3% over the past two years. Output is now more than 25% above its 2005 level, which dwarfs the achievements of the major advanced economies, including Germany and the United States, and its Nordic neighbours alike … More The Swedish economic boom: can it last?
By Mauro Pisu, Head of Italy Desk, Country Studies Branch, OECD Economics Department Italy is recovering after a deep and long recession. Structural reforms, accommodative monetary and fiscal conditions, and low commodity prices have spearheaded the ongoing economic recovery. The Jobs Act and social security contributions’ exemptions jolted the labour market, leading to rising employment … More Italy’s reforms are paying off but challenges remain
By Aida Caldera Sánchez, European Union Desk, and Nicolas Ruiz, Structural Surveillance Division, OECD Economics Department After many years characterised by output losses or quasi-stagnation, steadier growth appears to be setting in across European economies. Recent data point to an upturn in growth, the euro-area unemployment rate has finally fallen below 10%, and private-sector confidence … More Structural reforms to revive growth in Europe: necessary but not sufficient