In the last decades, Chile has made tremendous progress towards greater economic prosperity and lower poverty. Per capita income more than doubled over the past 20 years and is now the highest in Latin America. These progresses have now come to a halt. Since October 2019 Chile has faced two unprecedented shocks, the social protests and the COVID 19 outbreak.
The global recovery from the COVID-19 pandemic is uneven and becoming imbalanced. The OECD Economic Outlook, Volume 2021 Issue 2, highlights the continued benefits of vaccinations and strong policy support for the global economy, but also points to the risks and policy challenges arising from supply constraints and rising inflation pressures.
The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.
The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. This issue includes a general assessment of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19 outbreak and a chapter summarising developments and providing projections for each individual country.
This issue includes a general assessment, a special chapter on the effects of digitalisation on productivity and a chapter summarising developments and providing projections for each individual country.
This paper estimates potential output and the sources of growth in Chile during 1970-96. Actual output is cointegrated with the quality-adjusted measures of capital and labor, and constant returns to scale cannot be rejected. The estimates of potential output show a positive output gap in the years when the Chilean economy was deemed to be overheated. In 1986-90, the quality-adjusted labor variable explains close to 60 percent of the growth rate of GDP, while during 1991-95 capital formation plays a dominant role. The contribution of TFP growth in Chile is relatively small, but, based on a comparison with European and East Asian experiences, it is expected to increase in the medium term.
A team of examiners from the Organisation for Economic Cooperation and Development (OECD) reviews Portugal's education system in a three-part report. Part One begins with the consequences of the 1974 revolution, Portugal's economic problems, its impending attachment to the European Economic Community, and rising public expectations about education. It continues with criticism of the Ministry of Education, which is overstaffed and has duplicate functions. The examiners propose reduction of branches and suggest the establishment of a national education advisory council and closer relations with other government agencies. A high priority for the compulsory school-level education (four primary and two preparatory grades) is improvement of standards in rural areas. Accepting the future extension of compulsory schooling from 6 to 9 years, the examiners counsel step-by-step reform of the school structure and curriculum. Education of 16-to-19 year olds is a problematic issue since upper-secondary schools are not providing adequate vocational courses. The examiners feel a solution is for Portugal to adopt a comprehensive education and training policy for that age group implemented jointly by the Ministries of Education and Labor. Part Two of the report includes a record of the review meeting between the OECD examiners and the Minister of Education and his delegates and addresses five areas of concern. The third part is a summary of the Ministry of Education's Backgroud Report of the education system in Portugal. (MD)
This book provides an in-depth analysis of neo-liberal and progressive economic reforms and policies implemented in Chile since the Pinochet dictatorship. The core thesis of the book is that there is not just 'one Chilean economic model', but that several have been in force since the coup of 1973.
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
