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Economic Policy Reforms 2017

Going for Growth

image of Economic Policy Reforms 2017

Going for Growth is the OECD’s regular report on structural reforms in policy areas that have been identified as priorities to boost incomes in OECD and selected non-OECD countries (Argentina, Brazil, the People's Republic of China, Colombia, Costa Rica, India, Indonesia, Lithuania, the Russian Federation and South Africa). Policy priorities are updated every two years and presented in a full report, which includes individual country notes with detailed policy recommendations to address the priorities, as well as a follow-up on actions taken. The selection of priorities and the monitoring of reform actions are supported by internationally comparable indicators that enable countries to assess their economic performance and structural policies in a wide range of areas.



In addition to the new set of policy priorities and country notes, the 2017 report also includes a special chapter discussing how the Going for Growth framework has been extended to identify reform packages that boost growth while ensuring that the benefits are widely shared.

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Finland

Finland’s GDP per capita has been losing ground related to the OECD’s best performers since 2008, as a result of weak labour productivity and declining employment. The gap in GDP per capita has almost doubled since 2008 to close to 20 percentage points in 2015, even though the gap in GDP per hour worked is somewhat narrower. Labour force participation has been driven down by population ageing and dismal job prospects, as the economy struggled with falls in demand for electronic and forestry products, a collapse in demand from the Russian Federation and eroding competitiveness.

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