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This publication helps policy makers to better understand annuity products and the guarantees they provide in order to optimise the role that these products can play in financing retirement. Product design is a crucial factor in the potential role of annuity products within the pension system, along with the cost and demand for these products, and the resulting risks that are borne by the annuity providers. Increasingly complex products, however, pose additional challenges concerning consumer protection. Consumers need to be aware of their options and have access to unbiased and comprehensible advice and information about these products.

This report provides Hungary with key recommendations and policy options to establish comprehensive and user-friendly methodologies and tools for the greater uptake of life-cycle costing (LCC) methodology in public procurement. The report introduces the concept of LCC and its links to the wider sustainable public procurement agenda, and maps the current practices in Hungary and existing LCC tools in other EU and OECD countries, with a view of drawing insights to promote the development and uptake of LCC tools.

The mobility and fungibility of money makes it possible for multinational groups to achieve favourable tax results by adjusting the amount of debt in a group entity. The recommended approach ensures that an entity’s net interest deductions are directly linked to its level of economic activity, based on taxable earnings before deducting net interest expense, depreciation and amortisation (EBITDA). This approach includes three parts: a fixed ratio rule based on a benchmark net interest/EBITDA ratio; a group ratio rule which allows an entity to deduct more interest expense in certain circumstances based on the position of its worldwide group; and targeted rules to address specific risks. A country may choose not to introduce the group ratio rule, but in this case it should apply the fixed ratio rule to multinational and domestic groups without improper discrimination.

The mobility and fungibility of money makes it possible for multinational groups to achieve favourable tax results by adjusting the amount of debt in a group entity. The 2015 Report established a common approach which directly links an entity’s net interest deductions to its level of economic activity, based on taxable earnings before interest income and expense, depreciation and amortisation (EBITDA). This approach includes three elements: a fixed ratio rule based on a benchmark net interest/EBITDA ratio; a group ratio rule which allows an entity to deduct more interest expense based on the position of its worldwide group; and targeted rules to address specific risks. Further work on two aspects of the common approach was completed in 2016. The first addressed key elements of the design and operation of the group ratio rule, focusing on the calculation of net third party interest expense, the calculation of group-EBITDA and approaches to address the impact of entities with negative EBITDA. The second identifies features of the banking and insurance sectors which can constrain the ability of groups to engage in BEPS involving interest, together with limits on these constraints, and approaches to deal with risks posed by entities in these sectors where they remain.

The long-term safety of deep disposal of radioactive waste is strongly dependent on the performance of the geological setting. The geology fulfils important safety functions including isolating the waste from human contact or intrusion, providing a stable physical and chemical environment, insulating against external disturbances, and preventing or delaying the transport of radioactive materials away from the waste.  Thus, a sound understanding of the geology's history and evolution is central in supporting assessments that examine the long-term performance and safety of deep disposal. This conference proceedings examines how geoscientific arguments and data are compiled and linked to create a unified description of the geological setting to support a safety case. It also examines practical aspects and limitations in collecting, linking, extrapolating and communicating such information.

The 38 million Indigenous peoples living across 12 OECD countries contribute to stronger regional and national economies, and have unique assets and knowledge that address global challenges such as climate change. Supporting their economic inclusion at local and regional levels is essential to achieving the promise of the Sustainable Development Goals to “leave no-one behind” and overcoming the significant gaps in well-being that continue to exist between Indigenous and non-Indigenous populations, notably in rural areas. This report provides recommendations to achieve vibrant local and regional Indigenous economies that deliver on their objectives for development by: improving Indigenous statistics and data governance; enabling policies for entrepreneurship and small business; providing instruments to mobilise land for development; and implementing effective and inclusive governance to support a place-based approach.

There are approximately 800,000 Indigenous Australians, which is 3.3% of Australia’s total population. Indigenous Australians are custodians of the world’s oldest living continuous culture and make a vital contribution to contemporary Australian society. Indigenous Australians are also important for the future of the national economy. For example, the amount of land with Indigenous ownership and interest has increased significantly in the last 50 years and now covers approximately half of Australia’s land mass. Indigenous Australians play an important role in the development of regional economies. Compared to the non-Indigenous population, Indigenous peoples are more likely to be located in predominantly rural regions. However, significant gaps in socio-economic outcomes with non-Indigenous Australians remain and these gaps are larger in rural regions. The report provides three key recommendations to improve economic outcomes for Indigenous Australians: improving the quality of the statistical framework and the inclusion of Indigenous peoples in the governance of data; promoting entrepreneurship to provide opportunities for Indigenous peoples to use assets and resources in ways that align with their objectives for development; and, implementing an approach to policies that is adapted to places, and empowers Indigenous institutions and communities.

Canada’s Constitution Act (1982) recognises three Indigenous groups: Indians (now referred to as First Nations), Inuit, and Métis. Indigenous peoples make a vital contribution to the culture, heritage and economic development of Canada. Despite improvements in Indigenous well-being in recent decades, significant gaps remain with the non-Indigenous population. This study focuses on four priority issues to maximise the potential of Indigenous economies in Canada. First, improving the quality of the statistical framework and the inclusion of Indigenous peoples in the governance of data. Second, measures to improve the fairness and transparency for how Indigenous peoples can secure land tenure and the use of tools and such as land use planning to use it to promote community economic development. Third, promoting entrepreneurship so Indigenous peoples can use assets and resources in ways that align with their objectives for development. Fourth, implementing an approach to governance that adapts policies to places, and empowers Indigenous institutions and communities.

A trend toward decentralisation has meant that sub-national governments increasingly find themselves responsible for providing a host of public goods and services. Rarely, however, can they "go it alone". Co-ordination among levels of government is imperative. This book offers a unique analytic framework for assessing multi-level governance arrangements, which is subsequently applied to five case studies of regional development policy: Canada, France, Germany, Italy, and Spain. The book reveals the importance of contractual arrangements for customised management of interdependencies, for clarifying responsibilities among actors, for dialogue, and for learning.

In many OECD countries, governments have invested large amounts of public money to support renewable energy (RE) development and are requiring significant quantities of it to be sold by energy providers. But what are the economic impacts of these policies on the rural regions where deployment takes place? How can RE bring the greatest benefit to host regions? These are some of the questions explored by this study. Drawing on case studies in 16 regions within 10 countries, the research finds that while RE indeed represents an opportunity for stimulating economic growth in rural communities, its development benefits are not automatic. Realising them requires a complex and flexible policy framework and a long-term strategy, as well as a realistic appreciation of the potential gains from RE deployment.  Making a positive connection between RE development and local economic growth will require more coherent strategies, the right set of local conditions, and a place-based approach to deployment. 

The Sami have lived for time immemorial in an area that today extends across the Kola Peninsula in Russia, northern Finland, northern Norway's coast and inland, and the northern half of Sweden. The Sami play an important role in these northern economies thanks to their use of land, their involvement in reindeer husbandry, agriculture/farming and food production, and connection with the region’s tourism industry. However, in Sweden, as in the other states where the Sami live, the connections with regional development are often inconsistent and weak, and could do more to support the preservation and promotion of Sami culture and create new employment and business opportunities. This study, together with the OECD’s broader thematic work on this topic, provides actionable recommendations on how to better include the Sami and other Indigenous Peoples in regional development strategies, learning from and incorporating their own perspectives on sustainable development in the process.

In this report, the OECD and UNESCO Institute for Statistics have broadened PISA’s coverage to include eleven countries that recently joined the program: Albania; Argentina; Bulgaria; Chile; Hong Kong, China; Indonesia; Israel; FYR Macedonia; Peru; Romania and Thailand.  Besides a wider geographic scope, the report also provides new insights into individual and contextual factors that influence lifelong learning effectiveness. It notably shows how some countries have overcome unfavourable social and economic conditions to achieve high overall levels of performance.

Literacy in the Information Age, the final report from the International Adult Literacy Survey, presents evidence on the nature and magnitude of the literacy gaps faced by OECD countries. It offers new insights into the factors that influence the development of adult skills in various settings - at home, at work and across the 20 countries for which comparable household assessment results are included. Findings point to large differences in the average level and population distribution of literacy skills both within and between countries. Low literacy skills are evident among all adult groups in significant - albeit varying - proportions. Literacy proficiency varies considerably according to home background factors and educational attainment in most of the countries surveyed. However, the relationship between literacy skills and educational attainment is complex. Many adults have managed to attain high levels of literacy proficiency despite a low level of education; conversely, some have low literacy skills despite a high level of education. These differences matter both economically and socially: literacy affects, inter alia, labour quality and flexibility, employment, training opportunities, income from work and wider participation in civic society. Improving the literacy skills of the population remains a large challenge for policy makers. The results suggest that high-quality foundation learning in schools is important but insufficient as a sole means to that end. Policies directed at the workplace and family settings are also needed. The employers’ role in promoting and rewarding literacy skills is particularly important for skills development.

The Review of Competition Law and Policy in Lithuania describes the policy foundations, substantive competition law and enforcement experience, institutional structure as well as treatment of competition issues in regulatory and legislative processes.