Browse by: "2018"

This book presents an in depth analysis of the contribution of services to the Australian economy, the regulatory environment of the services sector and its performance in an international context. The analysis highlights the importance of co-ordinated domestic policy action, priorities for promoting behind-the-border regulatory reforms in strategic international markets, and the benefits of an ambitious bilateral, plurilateral and multilateral trade policy agenda that contributes to rules-based certainty and predictability in services trade globally.

Metrics matter for policy and policy matters for well-being. In this report, the co-chairs of the OECD-hosted High Level Expert Group on the Measurement of Economic Performance and Social Progress, Joseph E. Stiglitz, Jean-Paul Fitoussi and Martine Durand, show how over-reliance on GDP as the yardstick of economic performance misled policy makers who did not see the 2008 crisis coming. When the crisis did hit, concentrating on the wrong indicators meant that governments made inadequate policy choices, with severe and long-lasting consequences for many people. While GDP is the most well-known, and most powerful economic indicator, it can’t tell us everything we need to know about the health of countries and societies. In fact, it can’t even tell us everything we need to know about economic performance. We need to develop dashboards of indicators that reveal who is benefitting from growth, whether that growth is environmentally sustainable, how people feel about their lives, what factors contribute to an individual’s or a country’s success. This book looks at progress made over the past 10 years in collecting well-being data, and in using them to inform policies. An accompanying volume, For Good Measure: Advancing Research on Well-being Metrics Beyond GDP, presents the latest findings from leading economists and statisticians on selected issues within the broader agenda on defining and measuring well-being.

This book explores recent developments in environmental cost-benefit analysis (CBA). This is defined as the application of CBA to projects or policies that have the deliberate aim of environmental improvement or are actions that affect, in some way, the natural environment as an indirect consequence. It builds on the previous OECD book by David Pearce et al. (2006), which took as its starting point that a number of developments in CBA, taken together, altered the way in which many economists would argue CBA should be carried out and that this was particularly so in the context of policies and projects with significant environmental impacts.
It is a primary objective of the current book not only to assess more recent advances in CBA theory but also to identify how specific developments illustrate key thematic narratives with implications for practical use of environmental CBA in policy formulation and appraisal of investment projects.
Perhaps the most significant development is the contribution of climate economics in its response to the challenge of appraising policy actions to mitigate (or adapt to) climate change. Work in this area has increased the focus on how to value costs and benefits that occur far into the future, particularly by showing how conventional procedures for establishing the social discount rate become highly problematic in this intergenerational context and what new approaches might be needed. The contribution of climate economics has also entailed thinking further about uncertainty in CBA, especially where uncertain outcomes might be associated with large (and adverse) impacts.

The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region. Each edition of the Outlook comprises four main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the economic outlook and macroeconomic challenges in the region. The second part takes stock of recent progress made in key aspects of regional integration. The third part consists of a special thematic chapter addressing a major issue facing the region. The 2018 edition focuses on fostering growth through digitalisation. And the fourth part includes structural policy country notes offering country-specific reviews and recommendations.

Going for Growth is the OECD’s regular report on structural reforms in policy areas that have been identified as priorities to boost incomes in OECD and selected non-OECD countries (Argentina, Brazil, the People's Republic of China, Colombia, Costa Rica, India, Indonesia, Lithuania, the Russian Federation and South Africa). Policy priorities are updated every two years and presented in a full report, which includes individual country notes with detailed policy recommendations to address the priorities as well as a follow-up on actions taken. The next full report will be published in 2019.
The interim report takes stock of the actions taken by governments over the past year in the policy areas identified as priorities for growth. This stocktaking is supported by internationally comparable indicators that enable countries to assess their economic performance and structural policies in a wide range of areas.

Overall, the German economy is performing very well. Still, many citizens feel they do not sufficiently benefit from Germany’s good economic performance, as evidenced by the outcomes of the recent election. They perceive that their well-being is compromised by technological change, foreign competition and the arrival of migrants. Germany’s new government will have to tackle these issues by making growth not only stronger, but also fairer and greener. This report identifies key policy reforms to help the country achieve this goal, to foster productivity gains, boost public investment and ensuring that everybody can benefit from Germany’s strong economy and that no one is left behind. The German government needs the right labour, education and tax policies to foster access to quality jobs for everyone, including women, youth, the elderly and immigrants, while meeting the country’s climate objectives. The OECD is proud of its long-standing policy dialogue with Germany and looks forward to supporting the new government. Together, let us design, promote and implement better policies for better lives in Germany and worldwide.

The higher education system in Norway generally produces graduates with good skills and labour market outcomes. This success can be largely attributed to Norway’s robust and inclusive labour market and recent higher education reforms to improve quality. However, some Norwegian students have poor labour market outcomes and past success is no guarantee of future success, especially as the Norwegian economy upskills and diversifies. This report provides advice and recommendations to improve the labour market relevance and the outcomes of higher education in Norway. The analysis finds that there is an opportunity to expand work-based learning opportunities, improve career guidance, and do a better job of using innovative learning and teaching practices to improve labour market relevance across the system. The report concludes that Norwegian policy makers have a larger role to play in steering the system. Policy makers can set the conditions for greater labour market relevance by strengthening the mechanism for collaboration between higher education institutions and employers, ensuring better coordination and use of labour market information, and redoubling efforts to support quality learning and teaching. This report was developed as part of the OECD Enhancing Higher Education System Performance project.

This report, undertaken within the framework of the OECD Champion Mayors for Inclusive Growth initiative, assesses inclusive growth trends and challenges in the Seoul metropolitan area. The analysis goes beyond income to assess the barriers faced by specific groups - non-regular workers, youth, women, the elderly and migrants - across four dimensions: education, labour market, housing and the urban environment, and infrastructure and public services. The study then takes a closer look at two major policy efforts by the Seoul Metropolitan Government to advance inclusive growth. The study analyses the city’s efforts to ensure that strategies to address climate change also protect and benefit the most vulnerable populations, notably through the Promise of Seoul, which puts citizen welfare and social inclusion at the heart of the city’s efforts to tackle climate change. The study also assesses the efforts of city authorities to level the playing field for small firms and entrepreneurs through its Economic Democratisation Agenda.

Japan has achieved a comparatively high level of well-being: skill levels are high, unemployment is low and life expectancy at birth is the highest in the OECD. Since its launch in 2013, Abenomics has had a positive effect on the economy, and per capita output growth has picked up. However, to achieve inclusive growth and greater well-being, Japan needs to address important challenges to foster fiscal sustainability, narrow the productivity gap with leading OECD countries and manage the demographic transition. A new fiscal plan going beyond achieving a primary surplus should lay out concrete measures to raise revenues and control spending. As Japan’s population ages, using all available talent in the labour market and achieving gender equality are key to overcome labour shortages. Boosting productivity, which has been stagnant, will require increasing returns from R&D, capitalising on the digital economy, fostering the dynamism of SMEs, and reducing barriers to foreign direct investment and trade to promote greater integration into global value chains. Japan’s education system is one of the top performers in the OECD, but there is scope to further invest in teachers and schools. Finally, further action to foster green growth and environmental quality as well as effectively leveraging upcoming international sports events, such as the Rugby World Cup 2019 and the Olympic and Paralympic Games 2020, would also boost local development and inclusive growth. The complementarity of reforms needed to achieve inclusive and sustainable growth in in an aging society makes a compelling case for a comprehensive approach.

The need to mainstream biodiversity into economic growth and development is being increasingly recognised and is now also firmly embedded in the Sustainable Development Goals. Drawing on experiences and insights from 16 predominantly megadiverse countries, this report examines how biodiversity is being mainstreamed in four key areas: 1) at the national level, including national development plans and other strategies, institutional co-ordination and national budgets; 2) the agriculture, forestry and fisheries sectors; 3) in development co-operation; and 4) the monitoring and evaluation of biodiversity mainstreaming and how this could be improved.

The 2030 Agenda for Sustainable Development, adopted by world leaders at the United Nations on 25 September 2015, sets out an ambitious plan of action for people, planet and prosperity, with the overarching objective of leaving no one behind. At its core are 17 Sustainable Development Goals (SDGs) comprising 169 targets. This Study of the distances from the SDGs of selected OECD countries is designed to help governments as they consider developing national action plans, as well as to contribute to SDG mainstreaming across different OECD Directorates. It leverages the wealth of statistical data collected by OECD members and harmonised through OECD tools and processes.

The nuclear energy sector employs a considerable workforce around the world, and with nuclear power projected to grow in countries with increasing electricity demand, corresponding jobs in the nuclear power sector will also grow. Using the most available macroeconomic model to determine total employment – the “input/output” model – the Nuclear Energy Agency and International Atomic Energy Agency collaborated to measure direct, indirect and induced employment from the nuclear power sector in a national economy. The results indicate that direct employment during site preparation and construction of a single unit 1 000 megawatt-electric advanced light water reactor at any point in time for 10 years is approximately 1 200 professional and construction staff, or about 12 000 labour years. For 50 years of operation, approximately 600 administrative, operation and maintenance, and permanently contracted staff are employed annually, or about 30 000 labour years. For up to 10 years of decommissioning, about 500 people are employed annually, or around 5 000 labour years. Finally, over an approximate period of 40 years, close to 80 employees are managing nuclear waste, totalling around 3 000 labour years. A total of about 50 000 direct labour-years per gigawatt. Direct expenditures on these employees and equipment generate approximately the same number of indirect employment, or about 50 000 labour years; and direct and indirect expenditures generate about the same number of induced employment, or 100 000 labour years. Total employment in the nuclear power sector of a given national economy is therefore roughly 200 000 labour years over the life cycle of a gigawatt of nuclear generating capacity.

Paraguay has achieved strong and resilient growth and made progress across a range of development outcomes since it emerged from a prolonged period of economic and political instability in the early 2000s. In 2014, the country adopted its first National Development Plan, setting course towards an ambitious vision of the country’s future. To maintain the pace of economic growth and achieve more inclusive development Paraguay will need to overcome a number of institutional, economic and social constraints that challenge its development model. This first volume of the Multi-dimensional Review of Paraguay analyses the country’s development performance and presents the main constraints to the country’s development. It examines five broad areas, corresponding to the key areas of the Sustainable Development Goals: prosperity, people’s well-being, planet, peace and institutions, and partnerships and financing.

The National Accounts of OECD Countries, Financial Accounts includes financial transactions (both net acquisition of financial assets and net incurrence of liabilities), by institutional sector (non-financial corporations, financial corporations, general government, households and non-profit institutions serving households, total economy and rest of the world) and by financial operation. Country tables are expressed in national currency. Data are based on the System of National Accounts 2008 (2008 SNA) for all countries.