This 2017 OECD Economic Survey of Australia examines recent economic developments, policies and prospects. The special chapters cover innovation-driven productivity and boosting R&D outcomes.
Annotation This 2017 OECD Economic Survey of Australia examines recent economic developments, policies and prospects. The special chapters cover innovation-driven productivity and boosting R & D outcomes.
After a good performance until 2016, growth slowed in the first half of 2017. The unemployment rate has fallen to below 4.5%, but real wages are in a downward trend. Planned Brexit has raised uncertainty and dented business investment. Negotiating the closest possible EU-UK economic relationship...
Australia's long span of positive output growth continues, demonstrating the economy's resilience. In the absence of negative shocks, policy rates should start to rise soon, as wage growth and price-inflation pick up. Fiscal discipline will nevertheless still be required to bring balances to ...
- Basic statistics of India, 2015 or latest year available (Numbers in parentheses refer to the OECD average) - Acronyms - Executive summary - Assessment and recommendations - Follow-up to previous OECD policy recommendations - Making income and property taxes more growth-friendly and redistributive - Achieving strong and balanced regional development - Spatial inequalities: across states or between rural and urban areas?
- Basic statistics of South Africa, latest available year (Numbers in parentheses refer to the OECD average) - Executive summary - Assessment and recommendations - Progress in main structural reforms - Deepening regional integration within the Southern African Development Community - Lowering barriers to entrepreneurship and promoting small business growth - Export products in SADC - Estimates of determinants of trade flows - Participation in Global Value Chains - Road infrastructure needs in SADC - Detailed information on taxes - Determinants of entrepreneurial activity
The pandemic recession in 2020 was milder than in most other OECD countries, but recent outbreaks have prompted the country to begin transitioning from a zero tolerance to a containment approach to the virus. As the recovery becomes more firmly entrenched, public policy must focus on setting the conditions for another prolonged period of strong and well-distributed growth in living standards.
Estonia’s economy continues to perform well, and growing incomes support well-being. However, the expansion has peaked, and growth is set to soften due to weak international demand. Prudent fiscal policy has resulted in low debt, but spending pressures related to meeting infrastructure needs and ageing are mounting. Old age poverty is high and the proposal to allow early withdrawal of pension funds threatens macroeconomic stability and pension adequacy. The gender wage gap is among the highest in the OECD, and inequalities in income and health are considerable, reflecting gaps in the social safety net. The oil-shale sector is highly energy-intensive and is the main culprit behind Estonia’s high greenhouse gas emissions, but reducing dependence on the sector is challenging, as it is an important employer and meets 70% of Estonia’s energy needs.
India has been a growth champion in recent years and has succeeded in taming inflation, the current account deficit and non-performing loans. India's participation in the global economy has risen, with outstanding performances in some services, while the largest diaspora in the world is an asset in developing new markets. India has also lifted many millions of people out of poverty and has made access to housing for all a priority. Ambitious structural reforms -- including better targeted household support, financial inclusion initiatives, the implementation of the Goods and Services Tax, the Insolvency and Bankruptcy Code, the new approach to federalism and the corporate income tax reform -- have played a key role.