As Estonian exporters lead the way, policy needs to adapt

by Zuzana Smidova, Estonia Desk, OECD Economics Department International trade plays an important role in the Estonian economy (Figure 1). Around a half of the private sector employment is sustained by foreign demand, twice as much as the OECD average. By another measure, over 40% of the value added created in the economy is linked … More As Estonian exporters lead the way, policy needs to adapt

Make trade work for all

By Catherine L. Mann, OECD Chief Economist and Head of Economics Department The special chapter of the June 2017 Economic Outlook calls for action to diagnose and respond to structural trends, focussing on globalisation.  International trade has been a powerful engine of global economic growth and convergence in living standards between countries. Despite these benefits, … More Make trade work for all

Global Economic Outlook: Better, but not good enough

By Catherine L. Mann, OECD Chief Economist and Head of Economics Department Global growth is projected to rise modestly from 3% in 2016 to just over 3½ per cent by 2018 in our latest Economic Outlook. The mood in the global economy has brightened during the past year, with confidence indicators and industrial production increasing, and … More Global Economic Outlook: Better, but not good enough

Deploy effective fiscal initiatives and promote inclusive trade policies to escape from the low-growth trap

by Catherine L Mann, OECD Chief Economist and Head of OECD Economics Department For the last five years the global economy has been in a low-growth trap, with growth disappointingly low and stuck at around 3 per cent per year. Persistent growth shortfalls have weighed on future output expectations and thereby reduced current spending and … More Deploy effective fiscal initiatives and promote inclusive trade policies to escape from the low-growth trap

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

Untying the knots strangling Brazil’s competitiveness

by Sónia Araújo Economist, Brazil Desk, OECD Economics Department There is strong international evidence that trade liberalisation and increased international integration are key elements of a successful growth strategy. Exposure to international competition, sourcing internationally and learning by exporting accelerates technological upgrading and fosters productivity growth. This column explains how three policy instruments are holding … More Untying the knots strangling Brazil’s competitiveness

Birds of a feather do business together

by Jean-Marc Fournier, Economist, Public Economics Division, OECD Economics Department Numerous international agreements and free trade areas have reduced trade and foreign investment restrictions dramatically. This is one factor that has boosted international trade, which has risen about one and a half times faster than GDP since the Second World War. Globalisation has made it … More Birds of a feather do business together

Brazil: A tale of two industries or how openness to trade matters

by Jens Arnold Senior Economist, Head of the Brazil Desk, OECD Economics Department Brazil has a large and diversified industrial sector, but while parts of it are thriving, others are facing hard times, in part because they are weakly integrated into the world economy. The automotive and the aircraft sectors are two opposite examples of … More Brazil: A tale of two industries or how openness to trade matters