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Economic Policy Reforms 2015

Going for Growth

image of Economic Policy Reforms 2015

This publication is the OECD’s annual report highlighting developments in structural policies in OECD countries and the key emerging economies. It identifies structural reform priorities to boost real income for each OECD country and Brazil, China, India, Indonesia, Russia and South Africa. The analysis also regularly takes stock of reform implementation in all the countries covered. This report also provides internationally comparable indicators that enable countries to assess their economic performance and structural policies in a wide range of areas.

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Editorial: Breaking the vicious circle

More than six years after the onset of the financial and economic crisis, a return to the pre-crisis growth path remains elusive for a majority of OECD countries. In most advanced economies, potential growth has been revised down and, in some cases, there are growing concerns that persistently weak demand is pulling potential growth down further, resulting in a protracted period of stagnation. Risks of persistent stagnation concern mainly the euro area and Japan, but many of the underlying challenges such as slowing productivity, high long-term unemployment and falling labour force participation are common to other advanced economies. In major emerging-market economies, growth has become far less impressive in the last year or two, owing to a varying extent to infrastructure bottlenecks, financial sector vulnerabilities and resource misallocation. The slowdown has been particularly sharp in countries most exposed to commodity price developments.

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