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1411. Economic Survey of Sweden, 2004

Publication Date:
02-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
With sound monetary and fiscal frameworks and a good macroeconomic position, Sweden is better placed to face the longer-term challenges of an ageing population than many other OECD countries. As elsewhere, these demographic trends will put downwardpressure on growth in potential output and increase burdens on public expenditure over time. Managing this situation effectively within the welfare state approach while enjoying the highest possible living standards will be easier if the country can raise productivity growth, expand the effective labour supply, and get public finances quickly back onto their intended medium-term path. Productivity growth could be boosted further by increasing the pressures from competition in all parts of the economy, building on earlier liberalisation efforts. Effectively addressing cartels and other anti-competitive behaviour, removing regulatory obstacles and further exposing the large public sector to competition would all help. Productivity growth could also be raised if workers and capital moved more quickly and easily in response to shifts in costs and demand for different outputs. However, taking the rewards for productivity improvements in the form of lower working hours diminishes the tax base; further reductions in high marginal tax rates would reduce the incentive to do so. Although employment rates are already high overall, more could be done to get young people qualified and into the workforce earlier and to improve the integration of immigrants. Reducing the numbers of people drawing sickness and disability benefits will not only boost effective labour supply but also help ease expenditure pressures. More generally, tight expenditure restraint will be necessary to attain the government's surplus target. The budget framework could be refined in ways that would help to ensure that public finances are sustainable in the long term, while also providing room to moderate marginal tax rates in order to boost incentives to work, save and invest. Further progress towards environmental sustainability could focus on improving the cost-effectiveness of policies. Ultimately, creating faster growth and maintaining the welfare state depend on continuation of far-sighted economic management.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
Sweden

1412. Economic Survey of Switzerland, 2003

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Although trend growth of GDP has been meagre for two decades (1.25 per cent against 2.75 per cent for the OECD average), per capita income in Switzerland remains among the highest in the OECD. In recent years, output growth was less resilient than in most other OECD countries, with the economy being in recession during the first semester of 2003. This is partly due to the global slump in the financial and capital goods sectors which are very important for the Swiss economy, but the unsatisfactory growth performance is largely attributable to the timid pace of structural reforms over many years. Against this background, there are three major challenges for economic policy.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
Switzerland

1413. Economic Survey of Hungary, 2004

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
For Hungary to maintain strong growth, macroeconomic policy has to aim for sound and sustainable public finances, low inflation and maintaining the competitiveness of its FDI-driven export sector. Fiscal consolidation has to focus on lasting structural reforms, which bring down the volume of government expenditure in a sustainable way. Revenue increases buy time for the 2004 budget, but thistime has to be used to implement measures that will durably reduce spending in a medium-term framework. The difficult balancing act for monetary policy between achieving inflation targets and steering the exchange rate for entry into the euro zone could be made easier if fiscal targets are achieved. The move to base future budgets on the joint inflation target is a welcome step to improve co-ordination between the government and the Central Bank and should be continued. In wage setting, the indicative wage guidelines should be used to communicate disinflation in the runup to EMU, and thereby limit the risk of unintended real wage increases. Wage moderation should also be assisted by measures which increase the supply responsiveness of labour. Any room created for tax cuts should be used to reduce Hungary's large tax wedge on labour, which interacts negatively with some social benefit programmes. Large regional disparities should be addressed by measures which increase labour mobility and broaden investment across regions through further improved infrastructure. Business conditions can be further improved by addressing the low level of competition in some network industries and more generally improving the conditions for market entry in the domestic sector. The considerable costs of programmes to reduce the emission of greenhouse gases and also more local air pollutants could be reduced with the wider application of economic instruments. Hungary will only be able to reap the full benefits of European Union accession and EMU entry if it establishes a sound macroeconomic framework, boosts labour force participation and sustains high productivity growth.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
Hungary

1414. Science and Innovation Policy: Key Challenges and Opportunities

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
Science and technology exert a growing influence on society and the economy. Scientific achievements continue to expand the frontiers of knowledge and increasingly contribute to the technological progress that affects how people live and work. New science-based technologies help protect the environment, build safer homes, schools and factories, and develop energy- saving transport systems. Advances in genetics save lives and improve health standards throughout the world. Industries based on new technologies employ millions of highly skilled workers in the OECD and beyond. Information and communications technologies (ICT) have enhanced their productivity and made it possible for a greater number of individuals, firms and countries to take part in the knowledge-based economy.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy

1415. Economic Survey of the United Kingdom, 2004

Publication Date:
01-2004
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The performance of the UK economy has been impressive in recent years, underpinned by wide-ranging structural reforms and sound macroeconomic policy frameworks. The OECD projects growth above potential in 2004 and 2005, with unemployment remaining low, but instability stemming from the housing market is a risk. Monetary policy should continue to tighten to reduce future inflationary pressures and the risk of a further sharp rise in house prices from becoming a potential source of fragility. At the same time, the current rigidity of house supply should be eased by reforming land planning, while a reform of the regressive council tax could help to reduce the risk of housing market instability. Over the projection period, government spending will continue to rise as a share of GDP, reflecting the government's ambitious targets in priority areas. Slowing spending growth may be warranted on efficiency grounds: bottlenecks have become apparent, while time is needed to pilot new innovative approaches. More generally, getting incentives right is essential to meet the ambitious service targets. Slowing spending growth would also benefit the public finances. An income-contingent contribution scheme for university graduates is an equitable way forward; other forms of user charges not compromising equity concerns could improve efficiency. Both are preferable to raising taxes. Trend growth has already been boosted by the sharp decline in structural unemployment, but measures are still needed to reduce the number of inactive, especially those on incapacity benefit. While educational performance of students has risen, policy needs to further address the lack of vocational skills as one element in a strategy to reduce the productivity gap with the best performers elsewhere. In this respect, competition is also important. The government has strengthened the competition framework and active enforcement along with the market studies of the Office of Fair Trading and the Competition Commission's market investigations should help to ensure that markets become more competitive. However, planning restrictions and market power are a problem in the retail sector and industry regulators will need to remain vigilant in the electricity, gas and telecom sectors. Ensuring macroeconomic stability, while addressing the remaining weaknesses through further structural reforms offers the prospect of continuing strong economic performance.
Topic:
Agriculture, Economics, Environment, Human Rights, International Organization, and Political Economy
Political Geography:
United Kingdom

1416. That Old Time Religion: A Review of Recent Environmental Books

Author:
Steven F. Hayward
Publication Date:
11-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
A slew of new and highly regarded environmental books in 2004 is testimony to the persistence of environmental apocalyticism, despite growing signs of environmental progress in the United States and the developing world. The persistence of doomsaying is an indicator of the staleness of popular environmental thought, which is increasingly removed from political reality and closed-minded toward innovative thinking about real environmental problems and their solutions.
Topic:
Development, Energy Policy, and Environment
Political Geography:
United States

1417. Finding Better Ways to Achieve Cleaner Air

Author:
Joel Schwartz
Publication Date:
09-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Though air quality continues to improve, those gains have come at the cost of a regulatory system that also devotes enormous resources to creating and enforcing administrative requirements, rather than reducing pollution. The National Research Council recently issued a report evaluating U.S. air quality management and recommending reforms. Unfortunately, the report focuses on symptoms and fails to address fundamental problems with air quality law and regulation. The public's interest is in sufficiently clean air achieved at the least possible cost. But getting to this ideal will require overcoming special interests that benefit from a centralized, administratively complex regulatory system.
Topic:
Economics, Environment, and Human Welfare
Political Geography:
United States

1418. Oil and Stagflation

Author:
John H. Makin
Publication Date:
08-2004
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
I am not an expert on the price of oil. But many who claim to be have been saying for months that its price should drop back below $25 or $30 per barrel. Meanwhile, the actual price has risen steadily to nearly $50 per barrel as this Outlook goes to press.
Topic:
International Relations, Economics, and Environment
Political Geography:
United States

1419. Litigation as a Tool for Development: The Environment, Human Rights, and the Case of Texaco in Ecuador.

Author:
Elizabeth C. Black
Publication Date:
05-2004
Content Type:
Journal Article
Journal:
Journal of Public and International Affairs (JPIA)
Institution:
School of Public and International Affairs (SPIA), Princeton University
Abstract:
As the process of globalization continues into the twenty-first century, ensuring that transnational corporations are held accountable for their work abroad will be one of the greatest challenges faced by development specialists. In the current context, litigation in U.S. courts is an increasingly important tool in assuring that the people of underdeveloped nations do not suffer from the exploitation, pollution, and cultural degradation that has marked such countries’ “progress” in the past. This paper examines the case of María Aguinda et al. v. Texaco Inc., in which a group of indigenous Ecuadorans have sued the U.S.-based petroleum giant in response to environmental and human health damages resulting from its work in Ecuador in the 1970s and 1980s, in order to provide an example of one way in which litigation can foster development. In the context of the Aguinda case, this paper presents several specific recommendations for developing the legal means by which corporations can be held accountable on an international level beyond the U.S. court system.
Topic:
Development, Environment, Globalization, Human Rights, Business, Accountability, Corporations, and Litigation
Political Geography:
South America, North America, Ecuador, and United States of America

1420. Sustainability Values, Attitudes, and Behaviors: A Review of Multi-national and Global Trends

Author:
Anthony A. Leiserowitz, Robert W. Kates, and Thomas M. Parris
Publication Date:
12-2004
Content Type:
Working Paper
Institution:
The John F. Kennedy School of Government at Harvard University
Abstract:
This review analyzes five efforts to define sustainability values, including the U.S. National Academy of Sciences, the Earth Charter, the UN Millennium Declaration, and the Global Scenario Group. It then summarizes empirical trends in sustainability values, attitudes, and behaviors, as measured by multi-national and global-scale surveys, related to human and economic development, the environment, and driving forces (population, affluence, technology, and entitlements). The review also summarizes empirical trends related to the values identified by the Millennium Declaration as essential to international relations (e.g., freedom and democracy, equality and shared responsibility), and broader contextual values (e.g., capitalism, globalization, institutional trust, and social change) that have sustainability implications. It then identifies several important attitude-behavior gaps and barriers. Finally this review draws several conclusions regarding future research needs and the value, attitude, and behavioral change needed to achieve sustainability.
Topic:
Environment, Poverty, Science and Technology, Population, Sustainable Development Goals, and Survey
Political Geography:
Global Focus