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30 July 2002
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Article
English
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Signposting the zoo: From Agencification to a More Principled Choice of Government Organisational Forms
Derek Gill, Pages: 27–79
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OECD Journal on Budgeting
This paper originated with the discussions at the experts meetings at the OECD for PUMA’s Distributed Public Governance (Agencies and Authorities) Project. These suggested that the quite structured systems of classification of government ...
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07 Dec 2005
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Article
English
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Sustainable Budget Policy: Concepts and Approaches
Allen Schick, Pages: 107–126
in
OECD Journal on Budgeting
Concern about fiscal sustainability has been fueled by the projected ageing of populations in OECD countries and the likely surge in government spending on pensions and health care. For the most part, it has not been driven by worries about the ...
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02 Jan 2007
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Article
English
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South Africa: Transition to Democracy Offers Opportunity for Whole System Reform
Alta Fölscher, Neil Cole, Pages: 1–37
in
OECD Journal on Budgeting
This case study considers the substantial reforms to the South African public expenditure management system undertaken since the mid-1990s. The key aspects of the reform process have been: establishing the institutional framework for budget reforms ...
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05 Nov 2007
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Article
English
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Structural Balance Policy in Chile
Jorge C. Rodriguez, Carla R. Tokman, Alejandra C. Vega, Pages: 59–92
in
OECD Journal on Budgeting
Since 2001, Chile’s fiscal policy has been built on the concept of a central government structural balance. The Fiscal Responsibility Law, approved in 2006, gave legal force to key aspects of the structural surplus and fiscal policy. This article ...
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17 Jan 2005
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Article
English
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Substantive Criteria Used for the Assessment of Mergers
OECD, Pages: 89–183
in
OECD Journal: Competition Law and Policy
To decide if a merger should be blocked, conditioned or approved, three basic types of substantive test are employed: i) a dominance test (will the merger create or strengthen a dominant position?); ii) an SLC test (will the merger produce a ...
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11 Oct 2006
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Article
English
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Structural Reform in the Rail Industry
OECD, Pages: 67–175
in
OECD Journal: Competition Law and Policy
In a competition roundtable focused on separation of rail track ownership from that of train operations, accumulating evidence is examined that suggests the value of structural separation in the railways sector may be less than previously thought ...
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17 Jan 2011
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Article
English
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Structural indicators: A critical review
Davide Furceri, Annabelle Mourougane, Pages: 1–34
in
OECD Journal: Economic Studies
This article reviews and assesses in terms of availability, reliability and transparency, existing policy and outcome indicators that have been found to be linked both directly and indirectly to economic growth and living standards. Indicators ...
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12 May 2003
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Article
English
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Social Protection and Growth
Roman Arjona, Maxime Ladaique, Mark Pearson, Pages: 7–45
in
OECD Economic Studies
Public social expenditure accounts for 25 per cent of GDP, or even more in some countries. That expenditure on this scale has some effect on growth seems very likely, but the direction of the effect is disputed by different schools of thought. Using ...
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14 June 2006
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Article
English
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Sub-central government fiscal rules
Douglas Sutherland, Robert Price, Isabelle Joumard, Pages: 141–181
in
OECD Economic Studies
Rules constraining the discretionary powers of budget policymakers have become widespread among OECD economies, and the expanding role played by decentralised institutions in providing public services has led to their increasing adoption at the ...
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18 Mar 2011
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Article
English
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Systemic Financial Crises: How to Fund Resolution
Sebastian Schich, Byoung-Hwan Kim, Pages: 1–34
in
OECD Journal: Financial Market Trends
Systemic financial crises are a recurrent phenomenon, and despite regulatory efforts they are likely to occur again. This report compares the ex ante funding of deposit insurance schemes in a selection of countries, highlighting the "funding gap ...
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18 Mar 2011
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Article
English
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Sovereign Debt Challenges for Banking Systems and Bond Markets
Gert Wehinger, Pages: 1–34
in
OECD Journal: Financial Market Trends
Discussions at the October 2010 OECD Financial Roundtable conveyed a rather sombre view regarding the current outlook and risks, heightened by financial sector weaknesses, ongoing deleveraging and sovereign debt. Policy makers should be prepared for ...
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22 Sep 2010
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Article
English
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Statistical Yearbook on African Central Government Debt: Overview of a New OECD Publication
Hans J. Blommestein, Thor Saari, Pages: 181–187
in
OECD Journal: Financial Market Trends
The borrowing needs of African governments are increasingly met by issuing marketable debt instruments. Leading practices from OECD governments exert an important influence on debt management and the functioning of markets for sovereign debt ...
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23 Mar 2012
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Article
English
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Solving the Financial and Sovereign Debt Crisis in Europe
Adrian Blundell-Wignall, Pages: 201–224
in
OECD Journal: Financial Market Trends
This paper examines the policies that have been proposed to solve the financial and sovereign debt crisis in Europe, against the backdrop of what the real underlying problems are: extreme differences in competitiveness; the absence of a growth ...
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23 Mar 2012
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Article
English
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Sovereign and Banking Sector Debt: Interconnections through Guarantees
Arturo Estrella, Sebastian Schich, Pages: 21–45
in
OECD Journal: Financial Market Trends
Sovereigns effectively provided the function of guarantor-of-last resort in response to the 2008/09 banking crisis, and recent bank funding challenges have led to renewed calls for explicit sovereign bank debt guarantees. The present paper focuses ...
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22 Nov 2007
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Article
English
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Structured Products: Implications for Financial Markets
Adrian Blundell-Wignall, Pages: 27–57
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Financial Market Trends
The paper looks at financial market innovation and how it has led to the rapid growth of structured products. It explores the mechanisms that come into play as assets inside these products (mortgages, credit card receivables, etc.) suffer losses ...
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22 Nov 2007
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Article
English
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Selected Questions Regarding Hedge Funds
Sebastian Schich, Pages: 61–92
in
Financial Market Trends
There has been rapid growth in the share of assets under control of hedge funds over the past decade and, as a result, these entities have now become firmly entrenched in the universe of investment vehicles and, in turn, have themselves become ...
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07 Jan 2009
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Article
English
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Secondary market liquidity in domestic debt markets: Key policy conclusions
Hans J. Blommestein, Alison Harwood, Philipp Anderson, Ceyla Pazarbasioglu, Pages: 1–6
in
OECD Journal: Financial Market Trends
The Tenth OECD/World Bank/IMF Annual Global Bond Market Forum highlighted that liquidity is a complex concept with different dimensions – micro liquidity vs. macro liquidity, market liquidity vs. funding liquidity, endogenous vs. exogenous ...
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29 May 2008
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Article
English
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Sovereign wealth & pension fund issues
Adrian Blundell-Wignall, Yu-Wei Hu, Juan Yermo, Pages: 117–132
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OECD Journal: Financial Market Trends
Sovereign Wealth Funds (SWFs) are pools of assets owned and managed directly or indirectly by governments to achieve national objectives. These funds have raised concerns about: i) financial stability; ii) corporate governance and iii) political ...
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22 Sep 2009
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Article
English
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Senegal: Making Better Use of Agribusiness Potential
Yoshiko Matsumoto-Izadifar, Pages: 53–78
in
OECD Journal: General Papers
Senegal is a showcase of donors’ support to horticultural export development in sub-Saharan Africa. The first direct donor support to the Senegalese horticultural value chain dates back to 1998, with the World Bank-funded Agricultural Export ...
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19 Feb 2009
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Article
English
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Stocktaking Report and Policy Recommendations on Risk Awareness and Education on Natural Catastrophes
Rebekah Green, Marla Petal, Pages: 217–305
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OECD Journal: General Papers
The growing cost and frequency of natural catastrophes and their implications for economic growth and development have led to a concern over the level of public awareness and education relative to large-scale catastrophes and disaster risk reduction ...
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