Economic Policy Reforms

Frequency :
Annual
ISSN :
1813-2723 (online)
ISSN :
1813-2715 (print)
DOI :
10.1787/18132723
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OECD’s annual report highlighting developments in structural policies in OECD countries. Closely related to the OECD Economic Outlook and OECD Economic Surveys, each issue of Economic Policy Reforms gives an overview of structural policy developments in OECD countries followed by a set of indicators that reflect structural policy evolution. A set of Country Notes summarises priorities suggested by the indicators with actions taken and recommendations suggested. The Country Notes section also includes a set of indicators tables and graphs for each country. Each issue also has several thematic studies.

Also available in: French
 
Economic Policy Reforms 2013

Economic Policy Reforms 2013

Going for Growth You do not have access to this content

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Author(s):
OECD
Publication Date :
15 Feb 2013
Pages :
294
ISBN :
9789264168374 (PDF) ; 9789264168282 (print)
DOI :
10.1787/growth-2013-en

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Going for Growth is the OECD’s annual report highlighting developments in structural policies in OECD countries. It identifies structural reform priorities to boost real income for each OECD country and key emerging economies (Brazil, China, India, Indonesia, Russia and South Africa). The Going for Growth analysis also regularly takes stock of reform implementation in all the countries covered.

This report provides internationally comparable indicators that enable countries to assess their economic performance and structural policies in a wide range of areas. Each issue also has several thematic studies.

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    • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/editorial-reforming-for-a-strong-and-balanced-recovery_growth-2013-1-en
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    Editorial: Reforming for a strong and balanced recovery

    At a time when macroeconomic policies are under acute pressure in many countries, the role of structural policies has come more into focus. Structural reforms are important both on the conventional grounds that they boost long-term growth and welfare but also because they can take some pressure off macroeconomic policies. Better structural policies will help achieve fiscal sustainability and provide greater leeway for monetary policy. Importantly, structural reforms can bolster confidence. For these reasons they are more than ever a priority for the OECD and feature prominently in G20 action plans and work agendas.

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    Executive summary

    Going for Growth builds on OECD expertise on structural policy reforms and economic performance to provide policymakers with a set of concrete recommendations on reform areas identified as priorities for sustained growth.

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    • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/taking-stock-of-reform-action-and-identifying-priorities-in-2013_growth-2013-3-en
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    Taking stock of reform action and identifying priorities in 2013

    This chapter assesses progress that countries have made in responding to Going for Growth policy recommendations since 2011. Against this background, it identifies and discusses new priority areas where structural reforms are needed to lift growth across OECD and BRIICS countries.

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      http://oecd.metastore.ingenta.com/content/1213031ec004.pdf
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/the-effects-of-growth-enhancing-structural-reforms-on-other-policy-objectives_growth-2013-4-en
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    The effects of growth-enhancing structural reforms on other policy objectives

    This chapter examines the potential side effects of the growth-enhancing policy recommendations reviewed in Chapter 1 on two other aspects of well-being, namely income distribution and the environment, as well as on government budget balances and current accounts. In doing so, the chapter describes the main channels of influence and identify possible policy trade-offs and complementarities.

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  • Expand / Collapse Hide / Show all Abstracts Country notes

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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/australia_growth-2013-5-en
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      Australia

      Over the past decade, per capita income grew strongly in Australia, fostered by high terms of trade and employment rates. As a result, it has significantly surpassed the average of the most advanced OECD countries. However, productivity gains have substantially weakened over this period, partly due to temporary effects linked to the on-going mining boom.

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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/austria_growth-2013-6-en
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      Austria

      The small GDP per capita gap vis-à-vis leading OECD economies has continued to narrow, reflecting labour productivity gains. Improvements in labour force participation – especially of older workers – have been partly offset by cyclically declining average hours worked.

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        http://oecd.metastore.ingenta.com/content/1213031ec007.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/belgium_growth-2013-7-en
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      Belgium

      The small income gap vis-à-vis the upper half of the OECD has remained steady in recent years, with a decline in the (positive) labour productivity differential and hours worked offset by higher employment rates.

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        http://oecd.metastore.ingenta.com/content/1213031ec008.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/brazil_growth-2013-8-en
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      Brazil

      The GDP per capita gap with OECD countries is slowly diminishing but remains large and is mainly due to comparatively weak labour productivity performance.

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        http://oecd.metastore.ingenta.com/content/1213031ec009.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/canada_growth-2013-9-en
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      Canada

      GDP per capita continues to trail just below that of the average of the upper half of the OECD member countries. This performance is entirely related to the gap in productivity.

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        http://oecd.metastore.ingenta.com/content/1213031ec010.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/chile_growth-2013-10-en
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      Chile

      A rapid catching up in GDP per capita gap vis-à-vis leading OECD economies has continued, reflecting employment growth, but the gap still remains wide, owing to low average hours worked and weak labour productivity performance.

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        http://oecd.metastore.ingenta.com/content/1213031ec011.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/china_growth-2013-11-en
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      China

      GDP per capita soared by close to 55% in the five years to 2012, substantially narrowing the gap with OECD countries. Labour force participation rates remain above OECD average and the difference in income per head essentially reflects lower capital per worker.

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        http://oecd.metastore.ingenta.com/content/1213031ec012.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/czech-republic_growth-2013-12-en
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      Czech Republic

      The closing of the income and productivity gaps relative to the upper half of OECD countries has stalled since 2008. The income gap reflects a large productivity shortfall, while there is also room for raising labour utilisation.

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        http://oecd.metastore.ingenta.com/content/1213031ec013.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/denmark_growth-2013-13-en
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      Denmark

      The income gap vis-à-vis leading OECD economies has widened over the past decade, driven mainly by slower productivity growth. Although labour utilisation decreased in recent years, it is still relatively high. Employment rates are high, but hours worked are low.

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        http://oecd.metastore.ingenta.com/content/1213031ec014.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/estonia_growth-2013-14-en
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      Estonia

      After the major setback during the economic crisis, economic convergence vis-à-vis the upper half of the OECD has resumed. However, the productivity and output per capita gaps remain substantial.

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        http://oecd.metastore.ingenta.com/content/1213031ec015.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/european-union_growth-2013-15-en
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      European Union

      The income gap vis-à-vis leading OECD economies has remained essentially unchanged, and reflects lower productivity and especially weaker labour utilisation. Average hours worked have continued to decline.

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        http://oecd.metastore.ingenta.com/content/1213031ec016.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/finland_growth-2013-16-en
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      Finland

      The GDP per capita gap vis-à-vis leading OECD economies widened somewhat during the financial crisis due to a sharp fall in labour productivity and a smaller decline in employment, with some recovery lately. The remaining GDP per capita gap mainly reflects a shortfall in labour productivity, although labour utilisation also remains low compared to best-performing OECD countries.

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      France

      The gap in GDP per capita relative to the leading OECD countries has stabilised since the mid-2000s at a sizeable level, reflecting weak employment rates for youth and older workers as well as short working time.

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        http://oecd.metastore.ingenta.com/content/1213031ec018.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/germany_growth-2013-18-en
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      Germany

      The GDP per capita gap has continued to narrow relative to the upper half of the OECD. Notwithstanding some recent decline, Germany ranks among the best performing countries in terms of hourly productivity. Labour utilisation has increased but remains significantly below OECD highs.

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        http://oecd.metastore.ingenta.com/content/1213031ec019.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/greece_growth-2013-19-en
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      Greece

      After narrowing steadily during the 2000s, the GDP per capita gap relative to the best performing OECD countries has widened sharply in recent years due to the deep and protracted economic crisis. Declines in both labour productivity and labour utilisation have contributed to the widening of the gap.

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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/hungary_growth-2013-20-en
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      Hungary

      Closing of the income gap vis-à-vis the upper half of OECD countries had stopped before the global recession. The gap reflects a large shortfall in productivity. Overall labour resource utilisation is comparable to the most affluent OECD countries, but significantly higher average hours worked are offset by one of the lowest participation rates in the OECD.

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        http://oecd.metastore.ingenta.com/content/1213031ec021.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/iceland_growth-2013-21-en
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      Iceland

      The income gap vis-à-vis leading OECD economies has grown in recent years owing to relatively weak growth in employment and hours worked. The gap in GDP per capita reflects relatively low labour productivity. Employment rates and average hours worked are high.

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        http://oecd.metastore.ingenta.com/content/1213031ec022.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/india_growth-2013-22-en
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      India

      The Indian economy continues to grow faster than OECD countries but GDP per capita remains far below owing to low labour productivity.

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        http://oecd.metastore.ingenta.com/content/1213031ec023.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/indonesia_growth-2013-23-en
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      Indonesia

      The income gap vis-à-vis OECD economies has continued to narrow, reflecting strong factor accumulation. The remaining GDP per capita gap stems mainly from a productivity shortfall.

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        http://oecd.metastore.ingenta.com/content/1213031ec024.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/ireland_growth-2013-24-en
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      Ireland

      Income per capita has fallen somewhat below the level of leading OECD economies, reflecting a decline in employment that has more than offset continued growth in labour productivity.

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        http://oecd.metastore.ingenta.com/content/1213031ec025.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/israel_growth-2013-25-en
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      Israel

      The income gap vis-à-vis leading OECD economies has narrowed in recent years, with growth in the employment rate and productivity both playing substantial roles.

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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/italy_growth-2013-26-en
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      Italy

      GDP per capita has continued to fall further behind the upper half of the OECD. Despite increasing capital intensity, labour productivity has barely grown while labour utilisation remains low.

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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/japan_growth-2013-27-en
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      Japan

      The income gap relative to the upper half of the OECD has been persistent, as a decline in labour inputs has offset relative productivity gains. Nevertheless, average labour productivity remains nearly a quarter below the leading OECD economies, while labour utilisation is slightly above.

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        http://oecd.metastore.ingenta.com/content/1213031ec028.pdf
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      Korea

      GDP per capita continues to increase rapidly, rising to within a quarter of the upper half of the OECD countries. Productivity in Korea is only about one-half as high but working hours are the longest among OECD countries.

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        http://oecd.metastore.ingenta.com/content/1213031ec029.pdf
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      Luxembourg

      Income per capita has remained significantly above the level of other OECD countries. Measured productivity has fallen, mainly reflecting lower equity prices. Employment and productivity remain high, but participation is weaker.

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        http://oecd.metastore.ingenta.com/content/1213031ec030.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/mexico_growth-2013-30-en
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      Mexico

      The persistently wide gap in GDP per capita relative to the upper half of the OECD is driven primarily by a low level and growth rate of labour productivity.

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        http://oecd.metastore.ingenta.com/content/1213031ec031.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/netherlands_growth-2013-31-en
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      Netherlands

      Over the past two decades, GDP per capita has remained broadly in line with that of the upper half of OECD countries. The high hourly productivity has slowed somewhat since the mid-2000s, while the number of hours worked per employee has declined further.

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        http://oecd.metastore.ingenta.com/content/1213031ec032.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/new-zealand_growth-2013-32-en
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      New Zealand

      The income gap vis-à-vis leading OECD economies remains considerable. Since rates of labour utilisation are among the highest in the OECD, the income gap is entirely explained by a significant shortfall in hourly labour productivity.

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        http://oecd.metastore.ingenta.com/content/1213031ec033.pdf
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      Norway

      The large positive gaps in mainland and total GDP per capita relative to leading OECD countries have slightly fallen. For the mainland economy, the contribution of labour productivity to income growth has declined somewhat, through both lower capital intensity and multifactor productivity growth, while an increasing employment rate has raised labour utilisation.

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        http://oecd.metastore.ingenta.com/content/1213031ec034.pdf
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      Poland

      GDP per capita has been converging steadily towards the upper half of the OECD countries due to strong labour productivity growth and improved labour utilisation. But the shortfall relative to the best-performing countries remains substantial, chiefly because of a large labour productivity gap and the low employment rate of older workers.

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        http://oecd.metastore.ingenta.com/content/1213031ec035.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/portugal_growth-2013-35-en
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      Portugal

      GDP per capita relative to the upper half of the OECD has declined over the past decade, mainly due to falling labour utilisation. However, lower productivity alone continues to explain the large gap in income levels.

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        http://oecd.metastore.ingenta.com/content/1213031ec036.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/russian-federation_growth-2013-36-en
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      Russian Federation

      The GDP per capita gap relative to the upper half of the OECD narrowed rapidly during the boom period of 2000-08, before widening during the global crisis. The resumption of relatively rapid output growth in 2010-11 has resulted in renewed convergence. The per capita income gap is exclusively accounted for by lower productivity, as Russia has a relatively high labour utilisation rate.

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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/slovak-republic_growth-2013-37-en
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      Slovak Republic

      The substantial income per capita gap relative to the upper half of OECD countries has further narrowed, thanks to strong labour productivity growth. However, labour utilisation is still lagging behind.

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        http://oecd.metastore.ingenta.com/content/1213031ec038.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/slovenia_growth-2013-38-en
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      Slovenia

      After having narrowed steadily prior to the crisis, the GDP-per-capita gap vis-à-vis the upper half of OECD countries, which primarily reflects a labour productivity shortfall, has widened since 2008.

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        http://oecd.metastore.ingenta.com/content/1213031ec039.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/south-africa_growth-2013-39-en
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      South Africa

      The GDP per capita gap vis-à-vis the upper half of the OECD has narrowed only gradually since around 2000, and income per capita has grown somewhat more rapidly given a sustained improvement in the terms of trade. The contribution of low labour utilisation to the GDP per capita gap, which was already large, increased further in the wake of the global crisis.

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        http://oecd.metastore.ingenta.com/content/1213031ec040.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/spain_growth-2013-40-en
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      Spain

      The income gap vis-à-vis leading OECD economies has widened, reflecting large employment losses. The recent improvement in productivity reflects labour shedding in low-productivity activities.

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        http://oecd.metastore.ingenta.com/content/1213031ec041.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/sweden_growth-2013-41-en
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      Sweden

      The income gap vis-à-vis leading OECD economies has narrowed, reflecting strong productivity and employment growth. Employment rates are high, but average hours worked low. The remaining GDP per capita gap reflects mainly a productivity shortfall.

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        http://oecd.metastore.ingenta.com/content/1213031ec042.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/switzerland_growth-2013-42-en
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      Switzerland

      Real GDP per capita has grown somewhat more strongly than in the best performing countries over the past five years, notably on account of labour utilisation, driven by immigration. However, the productivity gap has persisted.

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        http://oecd.metastore.ingenta.com/content/1213031ec043.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/turkey_growth-2013-43-en
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      Turkey

      The income gap vis-à-vis the upper half of the OECD countries narrowed in the 2000s but remains large. The strong catch-up in the 2000s has been driven by productivity gains in most of the period, and by the acceleration of job creation outside agriculture in recent years.

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        http://oecd.metastore.ingenta.com/content/1213031ec044.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/united-kingdom_growth-2013-44-en
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      United Kingdom

      The gap in GDP per capita relative to the upper half of OECD countries has widened somewhat. Labour utilisation remains at par with best-performing OECD countries, but output per hour worked is relatively low and has fallen.

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        http://oecd.metastore.ingenta.com/content/1213031ec045.pdf
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      • http://www.keepeek.com/Digital-Asset-Management/oecd/economics/economic-policy-reforms-2013/united-states_growth-2013-45-en
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      United States

      The positive gap in GDP per capita between the United States and the upper half of OECD countries has persisted throughout the last decade, although it has decreased somewhat during the financial crisis. Gains in labour productivity have been well maintained, but employment rates and average hours worked have both contributed to low labour utilisation.

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    Structural policy indicators

    This chapter contains a comprehensive set of quantitative indicators that allow for a comparison of policy settings across countries. The indicators cover areas of taxation and income support systems and how they affect work incentives, as well as product and labour market regulations, education and training, trade and investment rules and innovation policies. The indicators are presented in the form of figures showing for all countries the most recent available observation and the change relative to the previous observation.

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