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2019 OECD Economic Surveys: Denmark 2019

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Living standards and wellbeing are high in Denmark. Economic conditions have improved in recent years and the steady expansion is projected to continue. A prolonged series of pension and benefit reforms has delivered sound public finances and strengthened potential growth, among others by indexation of statutory retirement ages to life expectancy. Improving public sector efficiency remains a challenge and would benefit from further digitalisation and reform of collective bargaining. Danish firms are close to the technological frontier thanks to digitalisation and favourable business framework conditions. Nonetheless, productivity growth has been disappointing in the recent past with a particular weakness in less knowledge-intensive service industries. Boosting productivity growth is essential to ensure that living standards and wellbeing remain high. This requires further improving business framework conditions, notably competition pressures. Policy needs to embrace innovative technologies by leaning against attempts to discourage or exclude them and by tackling unintended or outmoded obstacles in legislation and regulation. Reducing high marginal taxes, broadening innovation activity and attracting more high-skilled foreign workers are also priorities.



SPECIAL FEATURES: PRODUCTIVITY; BUSINESS FRAMEWORK CONDITIONS

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Basic statistics of Denmark

(Data refer to 2017 or latest available. Numbers in parentheses refer to the OECD average)*

The Survey is published on the responsibility of the Economic and Development Review Committee, which is charged with the examination of the economic situation of member countries. The economic situation and policies of Denmark were reviewed by the Committee on 22 November 2018. The draft was revised in the light of the discussion and given final approval as the agreed report of the whole Committee on 11 December 2018.This Survey was prepared in the Economics Department by by Mikkel Hermansen, Valentine Millot and Sune Malthe-Thagaard who was seconded from Danmarks Nationalbank, under the supervision of Pierre Beynet, Patrick Lenain, Annabelle Mourougane and Douglas Sutherland. Corinne Chanteloup provided the statistical research assistance and Stephanie Henry provided editorial support. The Survey also benefited from contributions by Christophe André, Thomas Chalaux, Caroline Klein, Valerie Smeets, Donal Smith, and Frederick Warzynski.The previous Survey of Denmark was issued in May 2016. Information on other Surveys and how surveys are prepared is available at www.oecd.org/surveys.

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