GDP growth was overestimated on average across 2007-12, reflecting not only errors at the height of the financial crisis but also errors in the subsequent recovery.
The next 50 years will see major changes in country shares in world GDP.The combined GDP of China and India will be larger than that of the entire OECD area, based on today’s membership, in 2060, while it currently amounts to only one-third of it.
In several OECD countries lengthy civil proceedings can be a drag on economic activity. In the OECD area the average length is around 240 days in first instance, but in some countries a trial may require almost twice as many days to be resolved.
Can both less income inequality and more growth be achieved? A recent OECD study sheds new light on the link between policies that boost growth and the distribution of income.
This study proposes a structured approach to selecting instruments of fiscal consolidation that are consistent with growth, equity and global-rebalancing objectives, which is then illustrated with a particular application.