2015 OECD Economic Surveys: Latvia 2015

image of OECD Economic Surveys: Latvia 2015

This OECD Economic Survey of Latvia examines recent economic developments, policies and prospects. Special chapters cover improving public sector efficiency and raising productivity.

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Raising productivity and ensuring robust convergence

Much of the convergence of the Latvian economy needs to come from productivity increases. To achieve this, policy makers can do more to facilitate the integration of the economy into global trade and promote the competitive business environment, both of which should help in increasing productivity. This can be achieved by decreasing the regulatory burden even further, by removing trade and investment barriers, by strengthening the competitive environment and by continuing with improvements in the judiciary. To reap the full benefits of globalisation and to increase the capacity to face shocks, human capital accumulation is crucial. In this vein, the reform of the vocational education and training system, of lifelong learning and of policies for research and development have yet to deliver.

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