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This paper is the fourth of four country case studies which is a part of a broader research programme addressing trade and structural adjustment issues in non-member economies which was conducted as a follow-up to Trade and Structural Adjustment: Embracing Globalisation (OECD, 2005) which identified policies for successful trade-related structural adjustment. This paper studies the trade liberalisation experience of Thailand from the 1970s. The report consists of 6 main sections; Section 1 provides the introduction, while section 2 provides an overview of Thailand's growth experiences. Section 3 takes a closer look at the trade liberalisation and investment policies in Thailand: Thailand's initial trade regime and three phases of trade liberalisation: (1) initial tariff reforms (1982-84), (2) comprehensive tariff reform and its reversal with the Asian financial crisis (1993-), and (3) post crisis reforms (1999-) are studied. Section 4 looks at the changes in the investment and trade structure, while section 5 takes a closer look at structural adjustment in three sectors, the automotive and auto-parts sector, textile and clothing, and the telecom services sector. Section 6 concludes with lessons learnt. Thailand's experience confirms that a sound macroeconomic environment, sustainable public finances, a relatively stable political and economic environment, flexible labour markets and reliable infrastructure are crucial for economic growth. It provides an example of gradual trade liberalisation, and demonstrates the benefits of openness to international trade and foreign investment in correcting distortions in the economy.
French
This paper is the second of four country case studies which is a part of a broader research programme addressing trade and structural adjustment issues in non-member economies which was conducted as a follow-up to Trade and Structural Adjustment: Embracing Globalisation (OECD, 2005) which identified policies for successful trade-related structural adjustment. This paper studies the trade liberalisation experience of Ecuador from the 1970s onwards. The report consists of 5 main sections; Section 1 provides the introduction, while section 2 provides an overview of Ecuador?s economic reforms from the 1970s onwards until the 2000s. Section 3 looks at the structural changes in the economy and trade dynamics behind the changes. Section 4 takes a closer look at structural adjustment in four sectors, the cut-flowers, processed tuna, cereals, and textiles and clothing. Section 5 concludes with lessons learnt. Ecuador provides a case of a country whose trade liberalisation and other structural reforms have led to mixed results. While trade liberalisation has improved resource allocations, macroeconomic instability, incomplete reforms, weak institutions and relatively restrictive (but also highly informal) labour markets have made it difficult for Ecuador to reap the full benefits of trade liberalisation.
This paper, together with five other background studies, is a part of a broader research programme addressing trade and structural adjustment issues in non-member economies which was conducted as a follow-up to Trade and Structural Adjustment: Embracing Globalisation (OECD, 2005) which identified policies for successful trade-related structural adjustment. This paper revisits and elaborates on specific parts of these policy recommendations with a view to reassessing their applicability to developing countries. The five background studies; a comparison study comparing East Asia and Latin America and four country case studies (Chile, Ecuador, the Philippines and Thailand), which were conducted as a part of this project, form the basis for the analysis, supplemented by existing literature. The report consists of 4 main sections; The first section provides an introduction and the second section provides an overview of the liberalisation experiences of the four countries. In the third section, some of the ?recommendations in OECD (2005) are revisited with a greater focus on developing countries, covering such issues as i) trade and investment policies, ii) macroeconomic policy, iii) social safety nets and labour market policies, iv) policies to facilitate export response, v) institutional frameworks and regulatory and competition environment, vi) role of multilateral cooperation and regional and bilateral initiatives, and vii) broad based approach to reforms. The fourth section concludes.
French
This paper examines varies areas of India´s fiscal policy, in particular fiscal discipline, the structure of government spending, the tax system and fiscal federalism. It describes reforms over the past decades which, as part of the overall economic reform agenda, helped lifting the Indian economy to a higher growth path. It also discusses where further reforms are desirable to further reduce economic distortions and improve the provision of public services. It finds that after high fiscal deficits have often been recorded during the past two decades, after the adoption of the Fiscal Responsibility and Budget Management Act in 2003, fiscal discipline has significantly improved. As to government spending, it argues that, given the large share which is used to subsidise commercial undertakings, agriculture and food distribution, there is much room to improve the quality of spending and to target it better to improving infrastructure and reducing poverty. It describes the tax system which has undergone major reforms since the early 1990s. Nonetheless, there are still many exemptions and loopholes which suggest that a broadening of the tax bases would allow further reductions in tax rates and make the system simpler, fairer and more efficient. The paper also suggests that reforms of indirect taxes should focus on creating a common market within India so that goods can move between states without border controls. Finally, on fiscal federalism it finds that India's federal structure has led to a well-developed system of tax-sharing and transfers, both through constitutionally empowered bodies and delivered through the annual budget. While overall, India´s fiscal federalism has worked well moving resources towards the poorest states, it has become very complex and there are still some features which weaken fiscal discipline of the states. Furthermore, a major drawback is the lack of an effective local government system, most notably in rural areas and strengthening the local level would be important for improving accountability and responsiveness to citizens’ needs as three-quarters of the population live in states with over 50 million inhabitants.
This paper provides a description of the risk-sharing features of pension plan design in selected OECD and non-OECD countries and how they correspond with the funding rules applied to pension funds. In addition to leading to a better understanding of differences in funding rules across countries with developed pension fund systems, the study considers the trend towards risk-based regulation. While the document does not enter the debate over the application of risk-based quantitative funding requirements to pension funds (as under Basel II or Solvency II), it identifies the risk factors that should be evaluated and considered in a comprehensive risk-based regulatory approach, whether prescriptive or principles-based. The three main risk factors identified are the nature of risks and the guarantees offered under different plans designs, the extent to which benefits are conditional and can be adjusted, and the extent to which contributions may be raised to cover any funding gap. In addition, the strength of the guarantee or covenant from the sponsoring employer(s) and of insolvency guarantee arrangements should be carefully assessed when designing funding requirements.
This publication was prepared to support the overall work of the OECD Health Care Quality Indicators Project in developing a set of indicators that can be used to raise questions for investigation concerning the quality of care across countries. It provides a manual to facilitate cross national comparisons of indicators for patient safety through the provision of detailed practical advice on calculating each indicator in a selected set of Patient Safety Indicators (PSI) utilising national hospital administrative databases...

This paper provides a description of the risk sharing features of pension plan design in selected OECD and non-OECD countries and how they correspond with the funding rules applied to pension funds. In addition to leading to a better understanding of differences in funding rules across countries with developed pension fund systems, the study considers the trend towards risk-based regulation. While the document does not enter the debate over the application of riskbased quantitative funding requirements to pension funds (as under Basel II or Solvency II), it identifies the risk factors that should be evaluated and considered in a comprehensive risk-based regulatory approach, whether prescriptive or principles-based. The three main risk factors identified are the nature of risks and the guarantees offered under different plans designs, the extent to which benefits are conditional and can be adjusted, and the extent to which contributions may be raised to cover any funding gap. In addition, the strength of the guarantee or covenant from the sponsoring employer(s) and of insolvency guarantee arrangements should be carefully assessed when designing funding requirements.

One specific aspect of financial safety nets that has been in the spotlight of late is deposit insurance. As events in markets are still unfolding, it is too soon to draw definitive conclusions regarding the effects of the crisis and the adequacy of financial safety nets, including deposit insurance arrangements. Nonetheless, preliminary suggestions for policy are emerging and the article singles out four areas for special attention. First, as regards coverage, deposit insurance systems with low levels of coverage and/or partial insurance may not be effective in preventing bank runs. Second, for an explicit deposit insurance system to be effective, depositors need to understand the extent of and limits to existing deposit protection schemes. Third, when different institutions are entrusted with responsibilities that are relevant in a crisis situation, ex ante arrangements delimiting the scope of the different responsibilities as well as the respective powers may not be sufficient to ensure co-ordination that is as close and smooth as needed. Fourth, the question as to whether a specific bankruptcy regime for banks is needed remains an important issue.

During the 1960s and 1970s, foreign direct investment (FDI) and the activities of multinational enterprises (MNEs) in less developed countries (LDCs) were generally viewed unfavourably, often being considered exploitative and as leading to worsening labour market conditions and job losses. However, there was a gradual shift in perception during the 1980s and 1990s, with increasing recognition of positive features of FDI such as technological spillovers and the increase in demand for domestic industry. Hence many countries, including LDCs, have introduced measures such as favourable tax treatment for foreign firms in order to attract FDI2. Against this background, FDI flows to LDCs have grown rapidly, increasing from 0.9 per cent of LDCs’ combined GDP in 1990 to a peak of 4.1 per cent in 1999, before declining slightly to 3.3 per cent in 2003 (World Bank, 2005). This article surveys the theoretical and empirical literature that describes the role of FDI in the economic growth of LDCs, and extracts its policy implications.

This paper focuses on the fees that are charged to participants in mandatory, defined contribution pension systems, focusing on the experience of Latin America, Central and Eastern Europe, Australia, and Sweden. In order to compare fees across countries, this paper looks at the evolution of a simple cost measure, the ratio of annual fees to assets under management. The relatively high fee to assets ratios in some Latin American and Central and Eastern European countries can be partly explained by the recent implementation of their private systems. However, system maturity cannot explain all differences observed between countries. The paper argues that the particularly low fees observed in Bolivia and Sweden at the inception of their respective systems stem largely from a decision to force cost competition among providers via a central agency or =clearing house‘.
This paper focuses on describing the international practice on the various forms of retirement benefit payment currently allowed in countries throughout the world and the regulatory environment surrounding these different forms of benefit payment. The analysis suggests considerable variance between countries. Some countries only allow one form of retirement payment, while others allow several forms or even a combination of them. Examining country practices as regard the providers of benefit payments, suggest that lump-sums and programmed withdrawals are generally provided by pension funds; while, as regard life annuities, providers varied from insurance companies, to pension funds, financial intermediaries and a centralised annuity fund. The paper ends by examining the role of taxation where a choice between different types of benefit payments is allowed. Tax provision plays a key direct or indirect role in influencing payout options. Cross country evidence is varied but suggests that there is often an unequal tax treatment of the various forms of retirement payout options.

The OECD Competition Committee debated Facilitating Practices in Oligopolies in October 2007. This document includes an executive summary and the documents from the meeting: written submissions from Belgium, Brazil, the Czech Republic, Denmark, France, Hungary, Japan, Korea, the Netherlands, New Zealand , Spain, Türkiye, the United Kingdom, the United States, the European Commission and BIAC, as well as an aide-memoire of the discussion.

Policy interest in international surveys on Adult Learning (AL) has increased strongly. AL survey data are used as benchmarks for a country‘s educational system. However, results of key indicators like participation in learning activities often vary remarkably between different data sources. Stating that these differences are due to varying concepts and methods is not enough. The key question is: Which figures represent reality more appropriately? Therefore, evaluation of survey concepts and methods is crucial for international comparison of Adult Learning.

This report provides guidelines on methodological and conceptual issues. Part one covers methodological aspects while part two deals with concepts, definitions and example questions. Recommendations are based on input from 14 countries...

Foreign direct investment (FDI) represents an increasingly important dimension of international economic integration with global FDI flows growing faster than output over the past two decades. FDI is a particular form of investment, as it transfers knowledge as well as finance that may otherwise be unavailable in the domestic economy. This paper uses firm-level data to identify FDI spillovers across countries, sectors and time. The analysis suggests that knowledge-related spillovers from FDI vary considerably across sectors. Services industries enjoy the strongest productivity-enhancing effects of FDI, particularly through backward linkages. There is no strong evidence of horizontal productivity spillovers at the aggregate level. The results also indicate a significant and positive correlation between the degree of trade openness and output when measuring the impact of foreign presence in the domestic economy. A positive interaction is found between trade liberalisation and productivity spillovers. Thus, trade liberalisation can be seen as an important component of any reform package designed to help countries maximise the benefits of FDI.
By Hansjörg Blöchliger and Claire Charbit

Fiscal equalisation is a transfer of fiscal resources across jurisdictions to offset disparities in revenue raising capacity or public service cost. It covers on average 2.5% of GDP or 5% of total government expenditure across OECD countries. Equalisation reduces fiscal disparities by two-thirds on average and in some countries levels them virtually out. Strong equalisation comes at a price: on average, around 70% of a jurisdiction’s additional tax income must be dedicated to an equalisation fund. The equalisation rate is generally higher for jurisdictions with low fiscal capacity, reducing their tax effort and likely to slow down regional economic convergence. Cost equalisation is larger than revenue equalisation in terms of GDP despite smaller cost disparities, pointing at inefficiencies in the distribution formulae. Fiscal equalisation can be pro-cyclical but most countries succeed in reducing fluctuations of entitlements, sometimes at the cost of sub-central budget needs. Fiscal equalisation is very country specific, and data and analysis must be taken with care.

French

The OECD Competition Committee debated fidelity and bundled rebates and discounts in June 2008. This document includes an executive summary and the documents from the meeting: an issues paper by the OECD, written submissions from Belgium, the Czech Republic, Denmark, the European Commission, France, Germany, Hungary, Indonesia, Japan, Korea, the Netherlands, New Zealand, Norway, Russia, South Africa, Chinese Taipei, Türkiye, the United Kingdom, the United States and BIAC as well as an aide-memoire of the discussion.

In this working paper, we decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than responding to output variations. We also found that while the effect of cross-country covariates is positive (negative) for discretion, it is negative (positive) for persistence, suggesting that countries with higher persistence have lower discretion and vice versa. In particular, while government size, country size and income have negative effects on the discretion component of fiscal policy, they tend to increase fiscal policy persistence.
Entrepreneurship and firm creation have long been recognised as a vital force driving innovation. With globalization and the co-incident shift towards a knowledge-based economy, the link between entrepreneurship policy and innovation has received renewed attention. By underpinning firm creation and firm expansion entrepreneurship policies strengthen innovation, increasing productivity in the enterprise sector. In return, policies fostering innovation will tend to spur firm creation as the results of R&D are commercialized. Many countries have taken initiatives since early 2000 to test the potential of entrepreneurship and SME policies, articulating these with an innovation-oriented policy approach. This report consists of a synthesis report based on four country case studies on the role of entrepreneurship policies in supporting innovation in Korea, Mexico, Norway and Turkey. These country case studies are appended to the synthesis report.

This paper was prepared to support multilateral discussions of recipient country investment policies towards foreign government-controlled investors (FGCIs) at the eighth and ninth Freedom of Investment (FOI) Roundtables, convened under the auspices of the OECD Investment Committee.

Government provision of a financial safety net for banks and other financial
institutions has been a key element of the policy response to the current financial
crisis. In the process, the design of many safety net elements, such as deposit
insurance, has been redrawn in many jurisdictions. In particular, governments
extended existing guarantees and introduced new ones. While these measures did
not address the root causes of the lack of confidence, they were nevertheless
helpful in avoiding a further accelerated loss of confidence, thus buying valuable
time.

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