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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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Assessment and Recommendations

Although trend growth of GDP has been meagre for two decades (1¼ per cent against 2¾ per cent for the OECD average), per capita income in Switzerland remains among the highest in the OECD. In recent years, output growth was less resilient than in most other OECD countries, with the economy being in recession during the first semester of 2003. This is partly due to the global slump in the financial and capital goods sectors which are very important for the Swiss economy, but the unsatisfactory growth performance is largely attributable to the timid pace of structural reforms over many years. Against this background, there are three major challenges for economic policy...

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