Monday, February 27, 2012
[IWS] OECD: ECONOMIC POLICY REFORMS: GOING FOR GROWTH 2012 [24 February 2012]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
ECONOMIC POLICY REFORMS: GOING FOR GROWTH 2012 [24 February 2012]
[Read online 223 pages]
Structural reforms can make the difference, Remarks by Angel Gurría, OECD Secretary-General
Struggling with the crisis: structural reforms can make the difference, Editorial by Pier Carlo Padoan, Deputy Secretary-General and Chief Economist, OECD
Table of Contents
Chapter 3: Structural policies indicators
Chapter 4: Can structural reforms kick-start the recovery? Lessons from 30 years of OECD reform
Chapter 6: Under shock: How to spread macroeconomic risks more fairly
Press Release 24 February 2012
The OECD report assesses and compares progress that countries have made on structural reforms since the start of the crisis, covering the 2007-11 period. It shows that the pace of reform has accelerated where it is needed most – in the European countries hardest hit by the sovereign debt crisis, including Greece, Ireland, Portugal and most recently, Spain and Italy.
The new European reform agenda has been spurred by the need to consolidate public finances and better manage pressures from the sovereign debt crisis. This has led governments to announce and begin implementing politically difficult yet ambitious reforms in areas including pension schemes, labour market policies and product market liberalisation. “Structural reforms now underway in Europe will eventually help reduce the economic imbalances that contributed to the debt crisis,” Mr Gurría said.
Going for Growth encourages governments to push forward with policies to boost job creation, against a background of continuing fiscal consolidation. These include sheltering active labour market policies from budgetary cuts, easing regulatory barriers to firm entry in markets with strong, short-term job-creation potential like retail trade or professional services, and reforming tax systems in ways that are less harmful to employment and growth. Governments should eliminate tax expenditures that do not promote growth, and shift the tax burden towards consumption, immovable property and environmental taxes.
For further information, journalists should contact Lawrence Speer in the OECD's Media Division (+33 6 80 14 05 46 or via email: firstname.lastname@example.org).
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