Italy’s justice system has quite a long road ahead but already scores better – The Italian View

by the Italian Ministry of Economy and Finance – Pier Carlo Padoan, Italy’s Minister of Finance, was OECD Deputy Secretary-General and Chief Economist from 2009-2014). Italy’s justice system is gaining greater efficiency, thus gradually closing its paradoxical gap. On the one hand, the clearance rate (measured as the ratio of the number of resolved cases … More Italy’s justice system has quite a long road ahead but already scores better – The Italian View

Boosting economic opportunities and wellbeing in Latvia: why housing matters

by Andrés Fuentes Hutfilter, Germany-Latvia Desk, OECD Economics Department Unemployment is still above 8% in Latvia and contributes to poverty, in part because many unemployed have been without a job for an extended period of time. High unemployment and poverty are concentrated in some regions (Figure 1). Housing policies shape residential mobility and can encourage … More Boosting economic opportunities and wellbeing in Latvia: why housing matters

How to make Belgian firms more productive

by Manav Frohde, Economist, OECD Economics Department A combination of market-based policies and a redistributive welfare state have helped Belgium achieved among the highest living standards in the OECD. While the economy remains highly productive, productivity growth has slowed  over the past two decades (Figure 1 & 2). Reinvigorating productivity growth will be necessary to … More How to make Belgian firms more productive

Economic research on international capital flows: where do we stand 10 years after the Global Financial Crisis started?

Stéphanie Guichard, our guest author, is a former Economic Counsellor to Catherine L. Mann, OECD Chief Economist. Financial globalisation has given international capital flows a central role in the functioning of the global economy, leading to considerable economic research over the past 30 years. Making the most of these capital flows has always been a … More Economic research on international capital flows: where do we stand 10 years after the Global Financial Crisis started?

The Italian banking system at a turning point – The Italian View

by the Italian Ministry of Economy and Finance, Pier Carlo Padoan, Italy’s Minister of finance, was OECD Deputy Secretary-General and Chief Economist from 2009-2014). The Italian banking system has long since been waiting for a comprehensive reform addressing structural inefficiencies and structural rigidities. As of 2014, the Government has defined a comprehensive reform plan while also tackling … More The Italian banking system at a turning point – The Italian View

The middle-income plateau: trap or springboard?

Rauf Gönenç and Vincent Koen, OECD Economics Department The overall slowdown and mixed growth performance of emerging market economies in the past 15 years (see chart) has revived angst about a so-called “middle-income trap”. While countries with lower incomes often do grow faster so as to close some of the gap with high income countries, they … More The middle-income plateau: trap or springboard?

Four Challenges of Inclusive Growth from the OECD’s chief economist

by Catherine L. Mann, Chief Economist and Head of the Economics Department, OECD The challenge of measuring inclusiveness. A standard metric for measuring inequality is the Gini coefficient, which measures income distribution within an economy. But there are many other measures, such as distribution of income deciles, distribution of wealth, distributions of these by regions … More Four Challenges of Inclusive Growth from the OECD’s chief economist

Short-term momentum: Will it be sustained?

By Catherine L. Mann, OECD Chief Economist and Head of Economics Department Global growth is projected to increase to around 3.5% in 2017 and 3.7% in 2018 from 3% in 2016 in our latest Interim Economic Outlook. The forecast has slightly improved since the OECD June 2017 Economic Outlook, with the upturn becoming more synchronised … More Short-term momentum: Will it be sustained?

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

Slovakia…it’s time to invest in the future

by Gabriel Machlica, Slovak Republic Desk, OECD Economics Department The Slovak Republic continues to exhibit robust economic performance. International competitiveness is strong, fiscal and financial policies are prudent, poverty and income inequality are low, and the country’s environmental footprint has improved markedly. Employment is rising, prices have been stable, and the external account is near … More Slovakia…it’s time to invest in the future