Posted . Global growth has strengthened, but policymakers face the challenge of lifting their economies’ long-term potential to ensure it remains robust and more inclusive. Private sector investment has slowed substantially in the past decade. Even though they have started to recover in most advanced economies, net investment rates remain well below pre-crisis levels and are projected to rise only modestly for the next two years (Figure 1) – see our latest Economic Outlook. More...
The Policy Challenge: Catalyse the private sector for stronger and more inclusive growth
Posted . Global economic growth is strengthening, with incoming data surprising on the upside. We project global GDP growth to be between 3 ½ and 3 ¾ per cent through the projection horizon, closer to long-run averages. Will this synchronised momentum finally propel the global economy to gather enough speed to raise productivity, real wages, and living standards for all. More...
Should we worry about high household and corporate debt?
Posted . Household and corporate debt in many advanced and emerging market economies is high in the wake of the financial crisis and following a decade of low global interest rates. Should we be worried by these developments. More...
A Response to Queen Elizabeth’s Question on the Global Financial Crisis
Posted . “Why did no one see it coming?” was the disarmingly blunt question asked by Queen Elizabeth in the aftermath of the global financial crisis. A number of economists (some with greater reliance on hindsight than others) claimed that there had been “worrying developments” in finance and the global economy for a long time prior to the crisis. More...
Maintaining Switzerland’s enviable living standards into the future
Posted . Switzerland’s high living standards and quality of life are renowned. It has the third-highest level of GDP per capita in the OECD. Likewise, survey data show Swiss have the OECD’s second-highest rate of life satisfaction. Unemployment is low, including for young people. And income inequality (after taxes and transfers) is around the OECD average. More...
How can countries close the equity gap in education?
Education plays a dual role when it comes to social inequality and social mobility. On the one hand, it is the main way for societies to foster equality of opportunity and support upward social mobility for children from disadvantaged backgrounds. On the other hand, the evidence is overwhelming that education often reproduces social divides in societies, through the impact that parents’ economic, social and cultural status has on children’s learning outcomes. More...
Who really bears the cost of education?
It can be difficult to get your head around education finance. Who actually pays for it, where does the money come from, and how is it spent are all crucial questions to ask if you want to understand how the money flows in education. In many countries, basic education is considered a right, and governments are expected to ensure universal access to it. More...
Are school systems ready to develop students’ social skills?
Successes and failures in the classroom will increasingly shape the fortunes of countries. And yet, more of the same education will only produce more of the same strengths and weaknesses. Today’s students are growing up into a world hyperconnected by digitalisation; tomorrow, they’ll be working in a labour market that is already being hollowed-out by automation. More...
How much will the literacy level of working-age people change from now to 2022?
Taken as a whole, the OECD’s Programme for International Student Assessment (PISA) and Survey of Adult Skills (PIAAC) present a mixed picture for Korea and Singapore. As their economies have grown, these two countries’ education systems have seen fast and impressive improvements; both now rank among PISA’s top performers. However, neither Korea nor Singapore do so well in PIAAC. More...
Is the growth of international student mobility coming to a halt?
Higher education is one of the most globally integrated systems of the modern world. There still are important barriers to the international recognition of degrees or the transfer of credits, but some of the basic features of higher education enjoy global convergence and collaboration. More...