OECD Economic Surveys: European Union

2072-506X (online)
2072-5078 (print)
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OECD's periodic reviews of the European Union's economy. Each review examines recent economic developments, policies, and prospects, and provides a series of recommendations.
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OECD Economic Surveys: European Union 2014

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03 Apr 2014
9789264206816 (PDF) ; 9789264219540 (EPUB) ;9789264206809(print)

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OECD's 2014 Economic Survey of the European Union examines recent economic developments, prospects and policies. A special chapter covers reinvigorating the EU single market.

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  • Basic statistics of the European Union, 2012

    This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of the European Union were reviewed by the Committee on 19 February 2014. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 20 March 2014.The Secretariat’s draft report was prepared for the Committee by Jean-Marc Fournier and Eckhard Wurzel under the supervision of Piritta Sorsa. Research assistance was provided by Isabelle Duong, Annamaria Tuske and Valery Dugain.The previous Survey of the European Union was issued in March 2012.

  • Executive summary
  • Assessment and recommendations
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  • Expand / Collapse Hide / Show all Abstracts Thematic chapter

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    • Reinvigorating the EU Single Market

      The EU Single Market remains fragmented by complex and heterogeneous rules at the EU and national levels affecting trade, capital, including foreign direct investment, and labour mobility. Further development of the Single Market and removing barriers to external trade would bring substantial growth and employment gains by enhancing resource allocation in Europe, by generating economies of scale and by strengthening competition and hence incentives to innovate. Reforming regulation and other implicit barriers can also yield a double dividend: it would stimulate cross-border activities and support the necessary reallocation process within countries. Such reallocation can cause hardships, especially for the less-skilled workers who may not be able to compete. To deal with such problems, it is important to enhance active labour market policies and training. The Single Market would also benefit from better networks between countries that can be supported by a well-targeted infrastructure policy. New digital networks can be promoted by an appropriate regulatory framework to strengthen confidence and to promote fair competition. Regarding external trade, the first-best solution is clearly multilateral trade negotiations, but short of that external trade and investment barriers can be reduced with Free Trade Agreement negotiations with the United States and other partners.

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