OECD Economic Outlook, Volume 2023 Issue 1
A long unwinding road
Global economic developments have begun to improve, helped by lower energy prices, improving business and consumer sentiment, and the reopening of China. However, the OECD Economic Outlook highlights that the upturn is fragile and the recovery is set to remain weak by past standards, with the effects of tighter monetary policy increasingly being felt. The Outlook underlines a range of risks, including the possibility that inflation could prove more persistent than projected and that the impact of higher interest rates on financial markets and economic activity could be stronger than expected. Well-calibrated policy measures are required to unwind the impact of the recent sequence of negative shocks to the global economy, restore economic stability, and strengthen prospects for strong, inclusive and sustainable improvements in living standards.
This issue includes an assessment of the global economic situation, a chapter on promoting gender equality to strengthen economic growth and resilience and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.
Also available in: French
Promoting gender equality to strengthen economic growth and resilience
The COVID-19 pandemic, Russia’s war of aggression against Ukraine, and the current cost-of-living crisis have affected women’s incomes, job opportunities and security (OECD, 2020a; European Parliament, 2023; Charlton, 2023). Long-standing factors such as climate change, the digital transition and population ageing also entail risks of widening gender gaps. Women are more vulnerable to economic shocks, may be less well-placed to seize the opportunities associated with the green and digital transitions as they tend to specialise less in scientific knowledge than men, and shoulder a disproportionate share of care for elderly relatives. This chapter draws on a wide range of previous OECD studies on gender equality to document employment and wage gender gaps across OECD countries, and their recent evolutions and underlying factors. It subsequently reviews policies put in place by governments to tackle gender inequality and outlines directions for further action.
Also available in: French
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