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2822. Economic Survey of the United States, 2005
- Publication Date:
- 10-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- Despite higher energy prices, the expansion has continued at a solid pace, driven by private domestic demand. With the output gap closing, stimulus is appropriately being withdrawn. However, monetary tightening since mid-2004 has not yet translated into higher long-term interest rates, and the incipient decline in the federal budget deficit owes much to the recent buoyancy of revenues. Over the next 18 months, the economy is projected to grow at an annual rate of 3¼ per cent, roughly in line with estimated potential output. Although such a soft landing is the most likely outcome, there are some risks. With little economic slack left, inflation could continue to pick up, in particular if oil prices keep rising. Insufficient public spending restraint or renewed dollar weakness associated with concerns about the external deficit might also add to inflationary pressures. On the other hand, an end to the house price boom, let alone a sharp correction, could entail a retrenchment of household expenditure that has been underpinned by rising household wealth.
- Topic:
- Development, Economics, and Markets
- Political Geography:
- United States
2823. Economic Survey of United Kingdom, 2005
- Publication Date:
- 10-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- The stability and resilience of the economy has been impressive and labour and product markets are among the most flexible in the OECD, but structural economic performance judged against a range of indicators can be further improved.
- Topic:
- Development, Economics, and Markets
- Political Geography:
- United Kingdom and Europe
2824. Making open markets work for development
- Publication Date:
- 10-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- Will developing countries really gain substantially from further multilateral trade liberalisation? This is a vital issue for the Doha Development Agenda (DDA) talks at the World Trade Organization (WTO) and a requirement for their successful conclusion. It is clear that many developing countries have benefited from multilateral trade negotiations and the resultant market-opening agreements in the decades since the Second World War. Further market opening should help more of them to better integrate into the world economy.
- Topic:
- Development, International Trade and Finance, Markets, and Third World
2825. Solutions in Space
- Publication Date:
- 10-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- Space, and man's relationship to it, has captured the human imagination for centuries. During the 20th century, dreams of space exploration became reality, and now dozens of countries, in particular in the OECD area, devote major resources to space programmes. But is this money well spent? Can we use space to find solutions to Earth's problems not available on the ground, or are we just pursuing high-priced star-filled dreams? Space technology may have brought us benefits from satellite telecommunications and their associated benefits such as telemedicine, but could we be doing more to exploit the link between space exploration and Earth application?
- Topic:
- Development, Economics, Environment, and Science and Technology
2826. Competition Law and Policy in Brazil
- Publication Date:
- 10-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- The modern era of competition policy in Brazil began in 1994 with the enactment of a new law as part of the “Real Plan”, a set of policies developed to deal with a period of hyperinflation. The law established a Brazilian Competition Policy System (BCPS) consisting of three agencies: a re-configured Administrative Council for Economic Defence (CADE), which had originally been created in 1962, the Economic Law Office (SDE) in the Ministry of Justice, and the Secretariat for Economic Monitoring (SEAE) in the Ministry of Finance. CADE has adjudicative authority in BCPS cases, while SDE has the principal investigative role, and SEAE is primarily responsible for providing economic analysis.
- Topic:
- Development, Economics, and Government
- Political Geography:
- Brazil and South America
2827. Opening Markets for Environmental Goods and Services
- Publication Date:
- 09-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- Trade barriers can be hazardous to the environment, at least those that prevent the free flow of environmental goods and services (EG). Roughly, these refer to the goods and services used to measure, prevent, limit, minimise or correct environmental damage. Studies have stressed the importance of eliminating barriers to trade in environmental goods and services as a key to improving environmental protection. And negotiations to reduce or eliminate barriers to trade in environmental goods and services are included in the current World Trade Organisation (WTO) talks. Today, because OECD countries have already eliminated most barriers to trade in EG, increasing trade flows in these products requires commitments from countries in the developing world.
- Topic:
- Development, Environment, Markets, and Third World
2828. Economic Survey of Slovak Republic, 2005
- Publication Date:
- 09-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- Sound macroeconomic policy, assertive product, capital and labour market liberalisation, and fundamental tax and welfare reform have transformed the Slovak business environment in recent years. Foreign direct investment (FDI) has responded particularly well, becoming the prime engine of capacity and productivity growth, and helping to put the economy on a strong and well-balanced growth path.
- Topic:
- Development, Economics, and International Trade and Finance
- Political Geography:
- Europe
2829. China's Governance in Transition
- 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, and Government
- Political Geography:
- China and Asia
2830. Economic Survey of China, 2005
- 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, and Emerging Markets
- Political Geography:
- China and Asia