OECD Economic Studies

Frequency :
1609-7491 (online)
0255-0822 (print)
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OECD Economic Studies is the twice-yearly journal of the OECD Economics Department. It features articles in the area of applied macroeconomics and statistical analysis, generally with an international or cross-country dimension. Articles are derived from work of the Organization’s intergovernmental committees, including areas of work outside the Economics Department’s focus. Now published as a part of the OECD Journal.

Also available in: French

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Mark Number Date Article Volume and Issue Click to Access
  06 Sep 2007 Less than you thought
Hansjörg Blöchliger, David King
State and local governments in OECD countries have access to various fiscal resources. Discretion over them varies considerably, and so does sub-central governments’ power to shape their budget and to determine outcomes like public sector efficiency, equity in access to public services or the long term fiscal stance. Data on the revenue structure of sub-central governments (SCG) would therefore be helpful. But indicators have long insufficiently reflected the way state and local budgets are funded. The most frequently used indicator is the ratio of SCG to total tax revenue, which is a poor measure for assessing the true autonomy SCGs enjoy. Since the power over fiscal revenue is a critical determinant for government finance, a set of more refined indicators for assessing fiscal autonomy should be established.
Volume 2006 Issue 2 Click to Access: 
  06 Sep 2007 The drivers of public expenditure on health and long-term care
Joaquim Oliveira Martins, Christine de la Maisonneuve
Public expenditures on health and long-term care (hereafter, LTC) are a matter of concern for governments in most OECD countries. These expenditures have recently accelerated and are putting pressure on public budgets, adding to that arising from insufficiently reformed retirement schemes and other forms of social spending. The growth of public spending on health and long-term care in OECD countries has been limited for some time via the implementation of cost-containment policies. These policies acted essentially through wage moderation, price controls and postponement of investment in the case of health care. A large share of long-term care has been informally provided by families. However, the scope for containing health and LTC expenditures along these lines is narrowing.
Volume 2006 Issue 2 Click to Access: 
  06 Sep 2007 Regulation of financial systems and economic growth in OECD countries
Alain de Serres, Shuji Kobayakawa, Torsten Sløk, Laura Vartia
The operation of the financial system can have a key impact on economic growth and the stability of the economy. It affects long-term economic growth through its effect on the efficiency of intermediation between the savers and final borrowers of funds; through the extent to which it allows for monitoring of the users of external funds, affecting thereby the productivity of capital employed; and through its implications for the volume of saving, which influences the future income-generating capacity of the economy. It affects the stability of the economy because of the high degree of leverage of its activities and its pivotal role in the settlement of all transactions in the economy, so that any failure in one segment risks undermining the stability of the whole system.
Volume 2006 Issue 2 Click to Access: 
  06 Sep 2007 Product market regulation and productivity convergence
Paul Conway, Donato de Rosa, Giuseppe Nicoletti, Faye Steiner
Product market regulation in the OECD area has generally become less restrictive of competition over recent years. This has lead to a degree of convergence in regulatory policies, but nonetheless, the productivity performance of OECD countries has become increasingly disparate. Indeed, according to some measures, the growth rates and levels of labour productivity have recently begun to diverge. Recent developments in the theory and empirics of growth suggest that cross-country productivity patterns may partly reflect differences in the policy and institutional environment (Acemoglu et al., 2004; Aghion and Griffith, 2005; Nicoletti and Scarpetta, 2003).
Volume 2006 Issue 2 Click to Access: 
  06 Sep 2007 Taxation and business environment as drivers of foreign direct investment in OECD countries
Dana Hajkova, Giuseppe Nicoletti, Laura Vartia, Kwang-Yeol Yoo
How important are differences in corporate taxation for the investment decisions of multinational enterprises (MNEs)? Over the past decade, interest in this issue has been growing in parallel with the increasing mobility of capital and internationalisation of businesses. Standard models of the MNEs predict that corporate taxation can influence foreign direct investment (FDI) by creating a wedge between the pre- and post-tax returns on investment. The relevant tax wedge, however, depends on whether MNEs’ investment is incremental or involves the creation of entirely new plants.
Volume 2006 Issue 2 Click to Access: 
  28 May 2007 Does distance matter?
Bryn Battersby
The author is grateful to Jyoti Rahman, David Gruen, Lewis Evans, Ben Dolman, Robert Ewing, Graeme Davis, Janine Murphy, Gene Tunny, Dave Turner and Sveinbjörn Blöndal for helpful comments in preparing this paper. The views expressed are those of the author and not necessarily those of the Treasury or the Australian Government.
Volume 2006 Issue 1 Click to Access: 
  28 May 2007 Environmental policy, management and R&D
Nick Johnstone, Julien Labonne
The authors would like to thank Chris Heady (OECD Directorate for Financial and Enterprise Affairs) and Dirk Pilat (OECD Directorate for Science, Technology and Industry) for valuable comments on an earlier draft of the paper. In addition, the contributions from all of our colleagues on the OECD Project on "Environmental Policy and Firm-Level Management" are gratefully acknowledged. (See Johnstone 2006 and www.oecd.org/env/cpe/firms for a full list of contributors and other outputs from the project.) In particular the insights of Toshi Arimura (Department of Economics, Sophia University, Japan) in the area of research and development have been extremely valuable.
Volume 2006 Issue 1 Click to Access: 
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