Statistical insights: Are international productivity gaps as large as we thought?

by Nadim Ahmad, OECD Statistics and Data Directorate Labour productivity is a key indicator of economic wellbeing, and raising it – producing more goods and services from the same or less work (labour input) – is one of the main drivers of sustainable economic growth. Historically, comparisons of productivity across countries have shown substantial gaps, … More Statistical insights: Are international productivity gaps as large as we thought?

How can public finance reforms boost economic growth and enhance income equality?

by Boris Cournede, Head of Public Finance Workstream, OECD Economics Department Most OECD countries have very large government sectors: public expenditure amounts to 43% of economic activity, measured by GDP, on average across OECD countries. This proportion exceeds 50% in four OECD countries. The programmes on which governments spend have thus deep implications for people’swell-being … More How can public finance reforms boost economic growth and enhance income equality?

Some Australians are at a significant risk of poverty, despite the strong economy

by Urban Sila, Australia Desk, OECD Economics Department Australia is a successful economy with high living standards. It has recorded 27 years of uninterrupted GDP growth. Incomes have grown strongly across the entire range of the income distribution and the incidence of both absolute and relative poverty have declined.  Despite this improvement, quite a significant … More Some Australians are at a significant risk of poverty, despite the strong economy

The output cost of the global financial crisis

By David Turner and Patrice Ollivaud, OECD Economics Department Assessing the damage from the Global Financial Crisis (GFC) is not straightforward, even with the benefit of hindsight provided by ten years of history, because the counter-factual of what might have happened in its absence is unknowable. However, a simplistic, but commonly adopted approach, of comparing … More The output cost of the global financial crisis

Sustaining growth to benefit all in Spain

By David Law, Spain desk, OECD Economics Department Spain continues to recover from the economic crisis with strong growth and falling unemployment, as highlighted in the latest OECD Economic Survey of Spain (OECD, 2018). If the recovery is to be sustained, it is vital that the benefits of economic growth are shared as high rates … More Sustaining growth to benefit all in Spain

Reducing regional disparities for inclusive growth

By Müge Adalet McGowan, Spain desk, OECD Economics Department Ensuring the benefits of growth are spread widely requires a strong focus on greater convergence of regions in terms of income and well-being. The GDP per capita in the best performing region was around double that in the worst performing region in 2016. Income inequality and … More Reducing regional disparities for inclusive growth

Positive economic outlook for the main economies in Latin America but downward risks have intensified

Alvaro S. Pereira (Director) and Latin American desks, Economics Department, Country Studies Branch, OECD The global economy is navigating rough seas. Global GDP growth is strong but it has peaked. In many countries unemployment is well below pre-crisis levels, labour shortages are biting and inflation remains tepid.  Yet, global trade and investment have been slowing … More Positive economic outlook for the main economies in Latin America but downward risks have intensified

Las perspectivas económicas son positivas en los principales países de América Latina pero los riesgos a la baja se han acentuado

Alvaro S. Pereira (Director) y mesas de países latinoamericanos, Departamento de Economía, Directorado de estudios de países, OCDE La economía mundial está navegando mares agitados. El crecimiento del PIB mundial es fuerte, pero ha alcanzado su punto máximo. En muchos países, el desempleo está por debajo de los niveles anteriores a la crisis de 2008, … More Las perspectivas económicas son positivas en los principales países de América Latina pero los riesgos a la baja se han acentuado

La Croissance est à son pic, la négociation d’un atterrissage en douceur s’annonce délicate

‌Laurence Boone, Chef économiste de l’OCDE L’économie mondiale traverse des zones de turbulences. La croissance du PIB mondial est élevée, mais a probablement atteint son pic. Dans de nombreux pays, le chômage est bien en dessous de ses niveaux d’avant-crise, les tensions sur l’emploi augmentent et l’inflation demeure modérée. Mais les échanges et l’investissement marquent … More La Croissance est à son pic, la négociation d’un atterrissage en douceur s’annonce délicate

Growth has peaked: Challenges in engineering a soft landing

by Laurence Boone, OECD Chief Economist The global economy is navigating rough seas. Global GDP growth is strong but has peaked. In many countries unemployment is well below pre-crisis levels, labour shortages are biting and inflation remains tepid. Yet, global trade and investment have been slowing on the back of increases in bilateral tariffs while … More Growth has peaked: Challenges in engineering a soft landing