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2016 OECD Economic Surveys: Israel 2016

image of OECD Economic Surveys: Israel 2016

This 2016 OECD Economic Survey of Israel examines recent economic developments, policies and prospects. The special chapters cover: Special Features: Boosting competition on Israeli markets and Improving the pension system.

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Quantification of the impact of product market reforms in Israel

A competitive product market environment that allows new firms to challenge incumbents, efficient firms to grow and inefficient ones to exit helps improve the allocation of resources and boost economic growth and living standards. A key policy ingredient for a growth-enhancing competition environment is for product market regulation to be set in a business-friendly way. Empirical studies have shown that greater competition and better regulation can raise overall output per capita by increasing investment and by encouraging companies to be more innovative and efficient, thereby lifting productivity (e.g. Conway et al., 2006; Bourlès et al., 2013).

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