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OECD Business and Finance Outlook 2017

image of OECD Business and Finance Outlook 2017

The OECD Business and Finance Outlook is an annual publication that presents unique data and analysis that looks at what might affect and change, both favourably and unfavourably, tomorrow’s world of business, finance and investment. Using analysis from a wide range of perspectives, this year’s edition addresses some forces influencing economic developments that have contributed to recent surprises in elections and referendums. A common theme of these surprises has been voter discontent with globalisation and immigration that are perceived to be causes of unemployment and falling living standards for substantial segments of society in a number of OECD countries. This Outlook’s focus is on ways to enhance “fairness”, in the sense of strengthening global governance, to ensure a level playing field in trade, investment and corporate behaviour, through the setting and better enforcement of global standards. A brief review of important developments contributing to post-war globalisation is provided and a number of policy domains are covered. These include exchange rates and capital account management, financial regulation since the global financial crisis, the rising weight of state-owned enterprises in the world economy, competition policy to deal with international cartels, the cost of raising capital, responsible business conduct and bribery and corruption.

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Moving towards more responsible globalisation

There has been much progress with respect to the promotion and uptake of responsible business conduct (RBC) practices in recent years and a considerable body of evidence showing that RBC is good for businesses. While gaps remain in the implementation of RBC principles and standards, governments, companies, and other stakeholders have been developing innovative initiatives aimed at filling them. In the context of the current backlash against globalisation, this is an important element for rebuilding trust in an open, rules-based global economy.

English

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