Australia’s productivity growth has decelerated markedly around the turn of the century. Part of the decline is probably temporary, but raising multifactor productivity is key to ensure that living standards continue to grow strongly, especially if the currently strong terms of trade weaken...

This paper investigates patterns in product market regulation across 34 OECD and 21 non-OECD countries, using an updated and revised version of the OECD’s indicators of product market regulation (PMR). The analysis shows that liberalisation of product markets has further slowed over the past...

Using panel data for OECD countries, this study investigates the extent to which changes in government spending on education, health and other areas influence long-term growth. The results suggest that, if total government spending is kept unchanged, increasing expenditure on health, education...

This paper reviews the accuracy of the <I>OECD Economic Outlook projections</I> — both “<I>current year</I>” and “<I>year ahead</I>” — for output growth, inflation and current account balances (as a percentage of GDP) for the major seven countries, as well as projections for world trade growth. The...</i></i></i>

The Australian education system fares well in international comparison with regards to PISA test scores and the higher education system attracts an increasing number of foreign students. Vocational education and training (VET) is an important part of the post–secondary education system,...

This Working Paper looks at structural policies which would improve Greece’s long-term economic performance and help speed economic and social convergence with average European Union member countries. It focuses on a number of key areas which are particularly important for rapid growth as they...

Key areas of public service provision in Australia are subject to complex patterns of joint government involvement that can lead to inefficiencies. Clarifying government roles and responsibilities is likely to have a significant potential for improving public sector efficiency. Fragmentation of...

The OECD Growth Study and other empirical work have shown that the strength of competition in product markets plays an important role in the economic growth process as well as contributing to a more efficient allocation of resources in a static sense. More intense competition is likely to...

Since 2004, the fiscal deficit has been brought down by over 5% of GDP to below the 3% limit in 2006, which is a major achievement. The government plans a more gradual reduction over coming years so that overall balance or surplus is reached no later than 2010. However, fiscal consolidation...

Despite progress over the past decades, Greece?s educational indicators lag behind those of other OECD countries. PISA scores are low, a large number of tertiary students study abroad, and attainment rates are low at all levels of education. Resources devoted to education are also modest....