OECD Observer
Home
Menu
Is the long view the answer to today’s epidemic of “instantaneous”?
If any word sums up today’s world, it’s definitely “instantaneous.” News spreads at the speed of light. Content is interpreted in mere seconds. Forecasts proliferate at a frenzied pace. But all this has a drawback: volatility increases. In such a context, it’s vital to take a step back. And it soon becomes clear, maintains the Caisse de dépôt et placement du Québec, that a long-term view is more relevant than ever.

Ageing and Well-Being

 

The University of Geneva addresses a challenge for the individuals and for the world.

The greatest challenge for the G20: Restoring trust in business

“International tax reform demands strong national and G20 leadership, but the prize of a fair and efficient tax system is well worth the effort.” 

A view from Michael Izza, Chief Executive, ICAEW. ICAEW is a global accountancy body representing 140,000 Chartered Accountants across the world.

Mining local strengths from global commodities

Commodities have been a major driver of Africa’s growth story in recent years. But you may be surprised to hear that natural resources could have contributed far more than they actually did to Africa’s 5% average GDP growth over the last decade. Although Africa’s primary sector has expanded, its global share of natural capital dropped from 11.5% in 1995 to 8.5% in 2005.

New challengers for China: Africa’s emerging partnerships 2.0?

Though China has recently been a dominant force in trade and investment on the African continent, India and Korea are fast becoming serious challengers. How can African countries make more of these evolving trends? And what role can the traditional partners in the OECD area play?

Growing with the flow

The 2008 economic crisis shook up the landscape of financial flows to Africa and brought to the fore two major trends: an upsurge in foreign direct investment (FDI) and a parallel rise in remittances from abroad. Indeed, remittances outpaced both aid and FDI inflows with a compound growth rate over the past decade of 7.7%.

Towards new global development goals

The vision of a world without extreme poverty is not a utopia, but a reachable goal. Yet realising the vision demands that we meet urgent challenges, and that includes overhauling our development goals.

OECD Week Video in Council

If you didn't make the OECD Week this week, watch this 4 minute summary posted below:

The banking crisis: Lessons from Cyprus*

The Cyprus crisis is the result of policy mistakes and a failure of collective responsibility, as well as an illustration of what bad policy can do and could do if it’s not corrected. It’s now too late to take the easier steps that could have avoided the problems we’re facing today, but there are alternatives to the myopic, badly conceived plan proposed by the Troika (the committee led by the European Commission with the European Central Bank and the International Monetary Fund that negotiates loans to the states worst affected by the sovereign debt crisis).

Revitalising international taxation

Governments’ budgets have taken a heavy blow in the global economic crisis, as they have had to foot the bill of corporate bailouts and massive rises in unemployment. Policymakers had little choice but to squeeze public services and jack up income and consumption taxes. So it is little wonder that politicians and their electorates were enraged when news broke revealing that some of the world’s largest and most profitable corporations, some of them icons of the new economy, paid little or no tax at all, including in countries where they pulled in massive profits.  

eBay and the rise of the micro-multinationals

Small international businesses are flourishing on the back of new technology, and becoming more multinational than much larger international corporations.  

Ireland's EU presidency

Ireland held the presidency of the European Union during the first half of 2013, and good progress was made in key areas, such as the banking union and economic governance, but much remains to be done to restore confidence in the EU, particularly for its citizens.

A lasting scar

The Great Recession—the financial, economic and social crisis that started at the end of 2007—has proved to be one of the longest and deepest in half a century, and so it is no wonder that news of a recovery has been greeted with such enthusiasm. But will the recovery be strong enough to help put OECD economies back on a pre-crisis growth path?

Taxing global firms

How multinationals and related firms calculate their internal global transactions for tax purposes is always under scrutiny, and even more so since the start of the crisis. The widely accepted way is to compare the value of those transactions with similar real market transactions. This arm’s length approach has its critics and competition is brewing. Here are the pros and cons.

Towards a sustainable, more equitable, recovery

A welcome sense of cautious optimism is building around the preparations for the G20 summit in Saint Petersburg in September, setting the tone for policymakers to take a renewed interest in coordinating their national action agendas to address pressing global challenges.

It's all about growth and jobs

The Russian presidency of the G20– the “premier forum for international economic cooperation”–is fast approaching its climax with the leaders’ summit taking place in Saint Petersburg on 5 and 6 September. By presiding over a group that represents 80% of the world’s GDP and that is sometimes dubbed the “steering committee” of the world economy, Russia has used this influential position to make a significant contribution to strengthening the recovery of the world economy.

It’s all about growth and jobs

The Russian Federation took over the G20 presidency on 1 December 2012, a time when all international organisations and countries had downgraded their growth forecasts for the year ahead. Against this background and the need for urgent and co-ordinated policy action to put the recovery back on track, we decided to refocus the G20 agenda on the issue of growth and jobs, and to work on very concrete actions and commitments for G20 leaders to discuss and possibly endorse at the Saint Petersburg summit in September 2013.

Sustainable growth, equity and fiscal balance

Though optimism about a recovery may be rising, the global crisis has left deep scars and placed economies of all levels and sizes under severe strain. Achieving long-term, inclusive, growth is a key goal of OECD countries and a central theme of the Russian presidency of the G20. Reforms are essential for achieving that goal, though other measures, in fiscal policy for instance, could help too.

Profiting from trade in value added

The world economy has become more complex, with global value chains and myriad interconnections among producers across continents. This has an impact on trade and investment policy, as well as on development, and exposes the shortcomings of the usual way of measuring trade.

Not so fast

The last few months have been marked by slightly better news on the economy, with signs of a recovery in the EU area in particular. But these are early days and challenges remain. John Evans, General Secretary of the Trade Union Advisory Committee to the OECD (TUAC), is not holding his breath. He explains why to the OECD Observer.

When corporate governance is a family affair

Family-run firms tend to believe that principles of good corporate governance do not really concern them. This is a mistaken view. The question is how to convince them.

The value of trade

The emergence of global value chains in manufacturing and services has revolutionised the way the world trades. It has also provided a valuable entry point for many developing economies into the global economy.

More...

Boardrooms in transition

Recent years have brought a flood of stories about dubious standards in business. In the past, many of these might not have impinged on the public’s consciousness. But in today’s interconnected world, consumers and stakeholders are raising the bar for what’s acceptable in corporate behaviour.

More...

Banking, ethics and good principles

Whether you blame poor regulation, sloppy governance, greed or bad luck, banks were frontline culprits in causing the crisis. Governments have been working on reforms to fix the financial sector and improve governance, but a lot more work remains to be done. Some OECD principles can help.

Can youth entrepreneurship work?

Larry Page and Sergey Brin were young doctoral students when they created the company we now know as Google. Virgin’s Richard Branson started out in business as a teenager selling records. These big names are just part of a long list of young entrepreneurs that made it in business, a list that could include the founders of Facebook, e-Bay, France’s Free telecom and more.

The economics of courage

Avoidance and false certainty are common afflictions of economic policymakers. Could this explain why they missed something as big and obvious in hindsight as the 2008 financial crisis? Courage to take on the causes of the crisis is needed now. 

Give youth a chance

Young people are being excluded from economic life by a combination of joblessness and barriers to the creation of start-ups. Unleashing the energy, entrepreneurial spirit and technological genius of the young is not just a moral imperative, but an economic necessity.

More...

Growth is not enough

Brazil’s labour leaders have long argued against pursuing economic growth for its own sake. What matters most, they believe, is not the size of the economic pie but how it’s carved up. In recent years, calls for social justice have increasingly informed policy in Brazil, bringing about a veritable “revolution” in the economy.

More...

Will China’s economy avoid the doldrums?

Will China’s growth slowdown last and what does it mean for the rest of us?

A recipe for trust

Have the policy errors that contributed to the global economic crisis been rectified? Sharan Burrow, who heads the International Trade Union Confederation, shares her vision for building trust and restoring confidence in the countries still suffering from the crisis.

More...