Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
  • Paris : OECD, Economics Dep.  (16)
  • Finanzpolitik  (15)
  • Nuclear Energy
Datasource
Material
Language
Years
Author, Corporation
Publisher
Keywords
  • 1
    Online Resource
    Online Resource
    Enhancing dynamism and innovation in Japan's business sector (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (51 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1261
    Keywords: Deregulierung ; Risikokapital ; Technologiepolitik ; Geldpolitik ; Stabilisierungspolitik ; Finanzpolitik ; Japan ; Environment ; Economics ; Japan ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: Innovation is key to boosting economic growth in the face of a rapidly ageing population. While Japan spends heavily on education and R&D, appropriate framework conditions are essential to increase the return on such investments by strengthening competition, both domestic and international, and improving resource allocation. Upgrading corporate governance would encourage firms to maximise profits and invest their large cash reserves. To promote open innovation in a global framework, it is necessary to improve universities and expand their role in business R&D, while increasing international collaboration in R&D from its current low level. Venture capital-backed firms and start-ups should play a key role in commercialising innovation. To make venture investment a growth driver, it is important to expand the role of business angels and foster entrepreneurship. SMEs, which account for 70% of employment, should contribute more to innovation.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrtpbtkbhs1-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Reforming the Slovak public sector (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (39 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1212
    Keywords: Gerichtsbarkeit ; Öffentlicher Sektor ; Finanzpolitik ; Slowakei ; Economics ; Slovak Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: Improving public sector efficiency can help to meet two conflicting objectives: ensuring fiscal consolidation and maintaining room for growth-friendly spending. However, the public sector lags on the application of e-government and e-procurement, insufficiently prioritizes spending, and suffers from budget fragmentation, lack of coordination between ministries and perceived corruption. The regulatory framework could also be more business friendly and the judicial system more efficient. Boosting public sector efficiency requires broad based reforms. Sequencing will be important for the effectiveness of this comprehensive reform effort, and therefore the government should put an initial emphasis on human resource management and the improvement of administrative capacity.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5js1pzrvxmkg-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Limits to government debt sustainability (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (26 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1229
    Keywords: 1985 - 2013 ; Öffentliche Schulden ; Finanzpolitik ; Schuldenmanagement ; Nachhaltigkeit ; OECD-Staaten ; Finance and Investment ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: The recent euro area sovereign debt crisis has shown the importance of market reactions for the sustainability of debt. The objective of this paper is to calculate endogenous government debt limits given the markets assessment of the probability to default. The estimated primary balance reaction function to growing debt has the “fiscal fatigue” property (a loosening fiscal effort makes the primary balance insufficient to support rising debt) at high debt levels. It is the combination of this feature of the primary balance reaction function with the market interest rate reaction to growing debt that determines the government debt limit beyond which debt cannot be rolled over. An application of this framework to OECD countries over the period 1985 – 2013 shows that current debt limits are high for most of the OECD thanks to particularly low current interest rates. It shows also for some countries that current debt levels are not sustainable without a change in government behaviour as compared to the past. Most importantly, the framework illustrates the state contingent nature of debt limits and therefore the vulnerability of governments to a change in macroeconomic conditions and to market reactions.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrxv0fctk7j-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Macroeconomic uncertainties, prudent debt targets and fiscal rules (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (46 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1230
    Keywords: 2040 ; Öffentliche Schulden ; Finanzpolitik ; Makroökonomik ; Simulation ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: The sharp rise in debt experienced by most OECD countries raises questions about the prudent debt level countries should target. It also raises questions about the fiscal frameworks needed to reach them and to accommodate cyclical fluctuations along the path towards a prudent debt target. The objective of this paper is to define long-run prudent debt targets for OECD countries and country-specific fiscal rules. To this end, a semi-structural macroeconomic model for OECD countries and primary balance reaction functions are estimated. The shocks derived from these estimations are used to assess uncertainties surrounding the development of macroeconomic variables. The model is simulated up to 2040 to derive the prudent debt target for each country and design country-specific fiscal rules.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrxv0bf2vmx-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Fiscal constitutions : an empirical assessment (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (45 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1248
    Keywords: 1917 - 2013 ; Finanzbeziehungen ; Finanzpolitik ; Finanzverfassung ; Empirische Methode ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: Fiscal constitutions comprise the set of rules and frameworks guiding fiscal policy that are enshrined in a country’s fundamental laws. This paper compares the fiscal constitutions of 15 federal countries by empirically assessing five building blocks: 1) the power of sub-national governments to conduct their own fiscal policy; 2) the degree to which sub-national governments are held responsible for fiscal policy outcomes; 3) the extent to which sub-national governments can shape fiscal policy of the federal level; 4) the strength of intergovernmental budget rules; and 5) the stability of fiscal policy arrangements. The results can be summarised as follows: Countries can be ranked along a single indicator, namely the degree of constitutionally guaranteed decentralisation. They can also be ranked along an indicator of institutional coherence which measures the extent to which building blocks “fit together”. From 1917 to 2013, fiscal autonomy and responsibility declined – except in the 80s and 90s of the 20th century – while co-determination and budget frameworks were strengthened, and institutional coherence rose. Simple correlations suggest that the extent of decentralisation hardly affects fiscal outcomes such as deficits, debt or vulnerability to crises, while institutional coherence (or incoherence for that purpose) does.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrxjctrxp8r-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    Improving public sector efficiency for more inclusive growth in Latvia (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (30 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1254
    Keywords: Soziale Ungleichheit ; Wirtschaftswachstum ; Öffentlicher Auftrag ; Haushaltsplanung ; Finanzverwaltung ; Finanzpolitik ; Lettland ; Economics ; Latvia ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This working paper explores avenues to improve public sector efficiency in Latvia, a catching-up and ageing economy where spending needs are large. Ensuring that spending allocated to core services (e.g. education, healthcare) is adequate to achieve convergence of policy outcomes to OECD upper standards is challenging. Efficiency gains in the tax system could bring additional revenues. The tax base should be expanded by reducing informality, strengthening tax administration and increasing property and environmentally related taxes, which are low by international standards. To reduce unemployment and income inequality, the tax-benefit system should also be revised as it is now relatively regressive and the tax wedge on low-income earners is high. Enhancing analytical, monitoring and assessment capacities should help to rein in wasteful expenditure and improve the prioritisation of spending. The reform of human resource management, public procurement, and state-local relations is also needed to deliver higher-quality and more cost-efficient public services.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrw57p59bxx-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 7
    Online Resource
    Online Resource
    Achieving fiscal consolidation while promoting social cohesion in Japan (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (40 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1262
    Keywords: Soziale Sicherheit ; Gesundheitsversorgung ; Geldpolitik ; Stabilisierungspolitik ; Finanzpolitik ; Japan ; Economics ; Japan ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: With gross government debt of 226% of GDP, Japan’s fiscal situation is in uncharted territory and puts the economy at risk. Japan needs a detailed and credible fiscal consolidation plan, including specific revenue increases and measures to control spending to restore its fiscal sustainability. The major concern on the spending side are social spending pressures in the context of rapid population ageing, making reforms to contain such spending a priority. Much of the consolidation, though, will have to be on the revenue side, primarily through hikes in the consumption tax rate beyond the 10% now planned for 2017. Fiscal consolidation should be accompanied by measures to promote social cohesion through the tax and benefit system and by breaking down labour market dualism. In particular, an earned income tax credit is a priority to assist the working poor.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrtpbs9fg0v-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 8
    Online Resource
    Online Resource
    Sustaining the economic expansion in New Zealand (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (41 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1247
    Keywords: Wohnungsmarkt ; Finanzpolitik ; Einwanderung ; Arbeitsmarktreform ; Finanzpolitik ; Sparen ; Stadtentwicklung ; Infrastruktur ; Produktivitätsentwicklung ; Neuseeland ; Economics ; New Zealand ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: The NZ economy has performed well over the past few years, having achieved relatively strong GDP and employment growth. However, some constraints to sustaining this momentum beyond the short term are emerging in the fields of skills, housing and urban infrastructure. Skills shortages have risen most in construction trades and management occupations. Housing shortages are most severe in Auckland, reflecting supply constraints in the face of population increases. As a result, prices are rising, reducing affordability. Urban infrastructure, particularly for road transportation, is also strained. In this respect, policy has a role to play in expanding economic capacity by reducing supply-side constraints and fostering productivity growth. At times New Zealand’s fiscal policy has been expansionary during upturns. Ensuring that permanent spending or tax cuts are implemented in a sustainable manner would encourage the strong fiscal position that New Zealand needs to meet potentially large macroeconomic shocks and long-run ageing-related costs. This Working Paper relates to the 2015 OECD Economic Review of New Zealand (www.oecd.org/newzealand/economic-survey-new-zealand.htm)
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrxqbg8c8np-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 9
    Online Resource
    Online Resource
    Russia : progress in structural reform and framework conditions 2011 - 13 (2015)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (30 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1252
    Keywords: 2011 - 2013 ; Energiewirtschaft ; Wirtschaftsstruktur ; Wirtschaftliche Anpassung ; Finanzpolitik ; Sozialpolitik ; Arbeitsmarktreform ; Russland ; Economics ; Russian Federation ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: Since 1995 when OECD began conducting Economic Surveys of the Russian Federation many policy recommendations relating to structural reform and framework conditions have been made. This paper is an update of an earlier paper that described actions taken up to October 2011 (Vaziakova et al., 2011). It expands the Annex A.1 of the 2013 OECD Economic Survey of the Russian Federation and provides a summary table of the policies implemented. This Working Paper relates to the 2014 Economic Survey of the Russian Federation www.oecd.org/eco/surveys/economic-survey-russian-federation.htm
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: PDF Reader.
    DOI: 10.1787/5jrw7j0zgb33-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 10
    Online Resource
    Online Resource
    OECD forecasts during and after the financial crisis : a post mortem (2014)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (90 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1107
    Keywords: Finanzkrise ; Wirtschaftslage ; Wirtschaftsprognose ; Inflation ; Prognoseverfahren ; Finanzpolitik ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery, focussing on lessons that can be learned. The projections repeatedly over-estimated growth, failing to anticipate the extent of the slowdown and later the weak pace of the recovery – errors made by many other forecasters. At the same time, inflation was stronger than expected on average. Analysis of the growth errors shows that the OECD projections in the crisis years were larger in countries with more international trade openness and greater presence of foreign banks. In the recovery, there is little evidence that an underestimate of the impact of fiscal consolidation contributed significantly to forecast errors. Instead, the repeated conditioning assumption that the euro area crisis would stabilise or ease played an important role, with growth weaker than projected in European countries where bond spreads were higher than had been assumed. But placing these errors in a historical context illustrates that the errors were not without precedent: similar-sized errors were made in the first oil price shock of the 1970s. In response to the challenges encountered in forecasting in recent years and the lessons learnt, the OECD and other international organisations have sought to improve their forecasting techniques and procedures, to improve their ability to monitor near-term developments and to better account for international linkages and financial market developments.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5jz73l1qw1s1-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 11
    Online Resource
    Online Resource
    Reducing macroeconomic imbalances in Turkey (2014)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (33 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1160
    Keywords: Finanzpolitik ; Wettbewerb ; Finanzmarktregulierung ; Leistungsbilanz ; Geldpolitik ; Sparen ; Türkei ; Economics ; Turkey ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these imbalances endure. The financial sector still looks resilient thanks to buffers built up mainly prior to the financial crisis. However, private sector balance sheet risks have gained prominence as leverage increased. Macroeconomic and structural policy levers need to steer a passage between robust but externally unsustainable growth and externally viable but low growth. Monetary policy needs to bring inflation and inflation expectations closer to target. Macroprudential policies could more systematically lean against capital inflows and credit cycles to reduce private sector balance sheet vulnerabilities. The fiscal stance is broadly appropriate, but compliance with a multi-year general government spending ceiling would help avoid pro-cyclical loosening in case of revenue surprises and help boost domestic saving. Overall, policies should help reduce the risk of disruptions in capital flows as monetary policy stimulus is being withdrawn in the United States.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5jxx055pjf0x-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 12
    Online Resource
    Online Resource
    Restructuring the electricity sector and promoting green growth in Japan (2013)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (27 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1069
    Keywords: Elektrizitätswirtschaft ; Energiepolitik ; Nachhaltige Entwicklung ; Japan ; Energy ; Environment ; Nuclear Energy ; Economics ; Japan ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: The 2011 disaster and nuclear problems opened the door to a new energy policy, as they raised fundamental questions about the electricity system’s ability to prevent and respond to accidents. In particular, the system has had difficulty coping with the shortages caused by the accident and the suspension of operations of nuclear power plants. Addressing these problems requires creating a more competitive electricity sector by reducing the dominance of the ten regional monopolies through ownership unbundling of generation and transmission and by expanding the wholesale market. It is also important to increase interconnection capacity, while introducing real-time pricing. The reduced role of nuclear power following the Fukushima accident makes it necessary to accelerate the expansion of renewable energy, which requires setting a sufficiently high and consistent price for carbon. Finally, the government should ensure the independence of the new Nuclear Regulatory Agency and create an independent regulator for the electricity sector to promote competition. This Working Paper relates to the 2013 OECD Economic Survey of Japan (www.oecd.org/eco/surveys/japan)
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5k43nxrhfjtd-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 13
    Online Resource
    Online Resource
    Cross-country spillovers from fiscal consolidations (2013)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (46 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1099
    Keywords: Haushaltskonsolidierung ; Finanzpolitik ; Spillover-Effekt ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: In many OECD countries, government debt reached levels over recent years that call for reduction over the medium to longer term to ensure public finance sustainability. This paper investigates the international transmission of fiscal consolidation shocks via trade flows. Using a measure of exogenous fiscal shocks in export markets, fiscal consolidation spillovers are found to slow domestic growth and decrease employment. When fiscal consolidation efforts are synchronised across partner countries, fiscal policies have large spillover effects on output. Spillovers of fiscal consolidations on growth are found to be initially larger between countries belonging to currency unions, though this larger impact vanishes over the medium term. Larger spillovers of fiscal consolidation coincide with stronger shifts in bilateral trade flows in currency unions in the short term, despite smaller adjustments in relative exchange rates. Spillovers of fiscal consolidation are also found to be more detrimental to domestic growth during economic downturns in export markets.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5k3txn1mbw8x-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 14
    Online Resource
    Online Resource
    Restoring Japan's fiscal sustainability (2013)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (42 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1050
    Keywords: Finanzpolitik ; Nachhaltigkeit ; Haushaltskonsolidierung ; Japan ; Finance and Investment ; Economics ; Japan ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: With gross government debt surpassing 200% of GDP, Japan’s fiscal situation is in uncharted territory. In addition to robust nominal GDP growth, correcting two decades of budget deficits requires a large and sustained fiscal consolidation based on a detailed and credible multi-year plan that includes measures to control spending and raise revenue. On the spending side, reforms to contain ageing-related outlays are the priority, while the consumption tax should be the main source of additional revenue, given that its impact on economic activity is less negative than other taxes. The plan should target a primary budget surplus large enough to stabilise the public debt ratio by 2020. The fiscal policy framework should be improved to help reinforce confidence in Japan's fiscal position and prevent a run-up in interest rates. Higher consumption taxes should be accompanied by well-targeted social spending, including the introduction of an earned income tax credit, to prevent a rise in inequality and poverty. This Working Paper relates to the 2013 OECD Economic Survey of Japan (www.oecd.org/eco/surveys/japan)
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5k46cvtkbf33-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 15
    Online Resource
    Online Resource
    Improving the fiscal framework to enhance growth in an era of fiscal consolidation in Slovakia (2013)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (30 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1018
    Keywords: Finanzpolitik ; Haushaltskonsolidierung ; Slowakei ; Taxation ; Economics ; Slovak Republic ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently established fiscal rules have significantly improved the fiscal framework, a further strengthening in medium-term fiscal discipline will be necessary to avoid pro-cyclical fiscal policy. Raising the effectiveness of tax collection, reforming the tax structure towards less distortive taxes and making more out of available EU funds would also play a helpful role in a growth-friendly fiscal consolidation. Finally, more needs to be done to ensure an adequate prioritisation of spending and an efficient use of public revenues. In particular, stepping up the analytical monitoring, evaluation and assessment capacity in spending ministries should help to rein in wasteful spending. This Working Paper relates to the 2012 OECD Economic Survey of the Slovak Republic (www.oecd.org/eco/surveys/slovakia2012).
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5k4c9kv6b7f2-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
  • 16
    Online Resource
    Online Resource
    The effect of government debt, external debt and their interaction on OECD interest rates (2013)
    Paris : OECD, Economics Dep.
    Details
    Language: English
    Pages: Online-Ressource (23 S.) , graph. Darst.
    Series Statement: OECD Economics Department working papers 1103
    Keywords: Öffentliche Schulden ; Schuldenmanagement ; Zins ; Wirtschaftswachstum ; Finanzpolitik ; Nachhaltigkeit ; Governance ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: In the wake of the financial crisis there has been renewed focus on the importance of a country’s net external debt position in determining domestic interest rates and, relatedly, its vulnerability to a crisis. This paper extends the panel estimation of OECD countries described in Turner and Spinelli (2012) to investigate the effect of external debt and its interaction with government debt on the interest-rate-growth differential. The inclusion of net external debt is found to be significant in both economic and statistical terms, and of particular importance for euro area countries in the post-crisis period. The results imply that the interest-rate effect of marginal increases in external debt or government debt is non-linear and dependent on the initial levels of debt, with the interest rate effect rising sharply in the post-crisis period for euro area countries which have a combination of both high external debt and high government debt. The policy implications for those countries under financial market pressure, especially within the euro area, are that reducing external deficits and debt are at least as important as reducing government deficits and debt. In any case, the effect of higher net external debt on interest rates provides a feedback effect which may prevent countries running sustained large current account imbalances over a long period. However, evidence of an asymmetry in the effect (between the effect of net external debt and net external assets) suggests that the pressure for adjustment will apply more strongly to deficit countries. It also implies that increased polarisation of external debt positions will raise the overall level of global interest rates.
    Note: Zsfassung in franz. Sprache , Systemvoraussetzungen: Acrobat Reader.
    DOI: 10.1787/5k3ttg5c0026-en
    URL: Volltext
    URL: lizenzpflichtig
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...