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2003 OECD Economic Surveys: Switzerland 2003

image of OECD Economic Surveys: Switzerland 2003

OECD’s 2003 Economic Survey of Switzerland examines recent economic developments, policies and prospects. The special feature covers product market competition and economic performance.

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Other Structural Reforms to Maintain High Living Standards

It was argued in Chapter I that the low trend growth of GDP is to a large extent rooted in structural factors. Many of these relate to a lack of competition in product markets, which was analysed in Chapter III. This chapter looks at other areas where performance has traditionally been considered good, but where further improvements can be achieved in order to raise the speed limits of the economy. In the labour market, there is room for raising participation, which would also help in facing the challenges of an ageing population. Education policy must pursue quality improvements without increasing the already high costs. Finally, the financial system, which has been one of the engines of growth in recent years, needs to adapt swiftly to the recent financial markets slump. This chapter looks at these issues in turn, with a final section devoted to three areas of sustainable development, i.e. climate change, water policy and waste management. A synopsis of recommendations, including those concerning the public sector issues discussed in Chapter II, is provided in Table 21...

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