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  • Publication Date: 11-2006
  • Content Type: Policy Brief
  • Institution: The Organisation for Economic Co-operation and Development
  • Abstract: The Russian economy has been enjoying a period of robust growth, thanks largely to steadily rising terms of trade. The challenge confronting policy-makers is to facilitate Russia's transition into a period of self-sustaining, investment- and innovation-led growth. This will require a sound macroeconomic policy framework to manage the economy's adjustment to sustained high oil prices and a range of structural reforms aimed at creating better framework conditions for business.
  • Topic: Development, Economics, Markets
  • Political Geography: Russia, Europe, Asia
  • Publication Date: 03-2006
  • Content Type: Policy Brief
  • Institution: The Organisation for Economic Co-operation and Development
  • Abstract: China's evolution from a centrally-planned to a market-based economy is leading to major transformations of its public expenditure policies. Much progress has been made in raising infrastructure spending to a level more in line with China's development needs and in modernising mechanisms for budget planning and implementation. Nevertheless, significant challenges remain.
  • Topic: Development, Government, Markets
  • Political Geography: China, Asia
  • Publication Date: 09-2005
  • Content Type: Policy Brief
  • Institution: The Organisation for Economic Co-operation and Development
  • Abstract: China's economic reforms over the past two decades have brought remarkable growth, the development of a vibrant private sector and significant reform of the state-owned sector. Private businesses now represent some 57% of GDP, and productivity in the state-owned sector has improved significantly. However, a number of problems threaten to undermine prospects for sustainable growth. These notably include social tensions, partly due to increasing inequality within society and massive migration to the cities, but also linked to corruption, insufficient public services and rising unemployment as millions of workers have been laid off in the reform of the state-owned sector, while agriculture still displays huge structural under-employment.
  • Topic: Development, Economics, Government
  • Political Geography: China, Asia
  • Publication Date: 09-2005
  • Content Type: Policy Brief
  • Institution: The Organisation for Economic Co-operation and Development
  • Abstract: China's economic growth has averaged 9½% per cent over the past two decades. The rapid pace of economic change is likely to be sustained for some time. These gains have contributed not only to higher personal incomes, but also to a significant reduction in poverty. At the same time, the economy has become substantially integrated with the world economy. A large part of these gains have come through profound shifts in government policies. Reforms have allowed market prices and private investors to play a significant role in production and trade.
  • Topic: Development, Economics, Emerging Markets
  • Political Geography: China, Asia
  • Publication Date: 06-2004
  • Content Type: Policy Brief
  • Institution: The Organisation for Economic Co-operation and Development
  • Abstract: Korea has been one of the fastest growing economies in the OECD area over the past five years, with an annual growth rate of about 6 per cent. Such rapid growth, which has lifted per capita income to two-thirds of the OECD average, reflects Korea's underlying dynamism and its progress in implementing a wide-ranging reform programme in the wake of the 1997 crisis. However, the recession in 2003 – which was due in part to structural problems in the labour market and in the corporate and financial sectors – indicates that the reform agenda is unfinished. Sustaining rapid growth over the medium term as the contribution from inputs of labour and capital slows requires further progress in structural reform, particularly in the labour market and in the corporate and financial sectors, accompanied by appropriate macroeconomic policies.
  • Topic: Development, Economics, Government
  • Political Geography: Asia, Korea