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This paper produces a comprehensive assessment of income redistribution to the working-age population, covering OECD countries over the last two decades. Redistribution is…
This paper produces a comprehensive assessment of income redistribution to the working-age population, covering OECD countries over the last two decades. Redistribution is quantified as the relative reduction in market income inequality achieved by personal income taxes (PIT), employees’ social security contributions, and cash transfers, based on household-level micro-data. A detailed decomposition analysis uncovers the respective roles of size, tax progressivity, and transfer targeting for overall redistribution, the respective role of various categories of transfers for transfer redistribution; as well as redistribution for various income groups. The paper shows a widespread decline in redistribution across the OECD, both on average and in the majority of countries for which data going back to the mid-1990s are available. This was primarily associated with a decline in cash transfer redistribution while PIT played a less important and more heterogeneous role across countries. In turn, the decline in the redistributive effect of cash transfers reflected a decline in their size and in particular by less redistributive insurance transfers. In some countries, this was mitigated by more redistributive assistance transfers but the resulting increase in the targeting of total transfers was not sufficient to prevent transfer redistribution from declining.
Purpose: With this study, the authors aim to analyze and highlight the financial performance of pension funds (public and private) and their impact on the economic growth…
Purpose: With this study, the authors aim to analyze and highlight the financial performance of pension funds (public and private) and their impact on the economic growth of The Organisation for Economic Co-operation and Development (OECD) countries, while taking into account the effect of market capitalization, inflation, and public debt.
Methodology: To carry out this analysis, the authors subjected our secondary data (derived from published in the annual reports of the OECD, the World Bank and the IMF) to econometric tests, specifically linear regression, random effect, fixed effect, the Hausman–Taylor Regression, the Generalized Estimating Equations (GEE), the Generalized Method of Moments – Arellano – Bond Estimation (GMM) and carried out an analysis of linear trends through the historical method and comparative method.
Findings: Based on the empirical results of this study, the authors conclude that the assets of public and private pension funds have positively affected the economic growth of OECD countries (2002–2018).
Practical Implications: This study provides an overview of the functioning of pension systems in OECD countries as well as the effects of these pension funds on their economic growth. Moreover, it provides additional new knowledge for governments and policymakers in these countries and a good source of information for all employees (whether public or private), on the quality and standards of living after retirement.
Significance: The importance of this study rests on the fact that OECD countries have a highly developed economy and have high-performance financial markets. Therefore, this highlights the importance of investments by pension funds in their financial markets for economic growth and for the indirect effects caused on their economies.
The purpose of this study is to measure and analyze the national innovation efficiency of organisation for economic co-operation and development (OECD) countries. This is…
The purpose of this study is to measure and analyze the national innovation efficiency of organisation for economic co-operation and development (OECD) countries. This is to determine to what extent OECD countries efficiently use the elements that enable innovation activities possible in generating innovation outputs.
An input–output model was constructed to measure efficiency. The inputs and outputs in the research model are the input and output sub-indices of the Global Innovation Index. Data envelopment analysis was used to measure the national innovation efficiency levels of OECD countries.
The results show that national innovation efficiency is generally high in OECD countries. However, some countries lag behind in innovation efficiency. OECD countries’ ability to create and provide the elements that enable innovation activities is higher than their ability to create innovation outputs. OECD countries have a good innovation environment and a high level of resources, but they should focus on how to create more innovation outputs.
This study presents a measurement of national innovation efficiency of OECD countries which contributes “Innovation Strategy” agenda. The results empirically show that overall innovation indices cannot be the only indicator of the performance of national innovation systems. In this study, an innovation efficiency/performance matrix is constructed to present the relative positions of the countries to help in examining countries’ strengths, weaknesses and potentials based on innovation efficiency and innovation performance simultaneously. This study contributes to the literature by presenting a broader perspective and measurement of national innovation efficiency by taking an extensive number of indicators into account.
The purpose of this paper is to break down south-north migration along both the skill and the occupational dimension and thus to distinguish and compare several types of…
The purpose of this paper is to break down south-north migration along both the skill and the occupational dimension and thus to distinguish and compare several types of south-north migration and brain drain.
This paper presents south-north migration rates by occupational category at two distinct levels of disaggregation according to International Standard Classification of Occupations 1988 (ISCO-88). The data sets combine information about the labor market outcomes of immigrants in Organisation for Economic Co-Operation and Development (OECD) countries around the year 2000 provided by the Database on Immigrants in OECD Countries by the OECD with employment data for the developing migrant-sending countries from the International Labour Organization.
The incidence of south-north migration was highest among Professionals, one of the two occupational categories generally requiring tertiary education, and among clerks and legislators, senior officials and managers. At the more disaggregated level, physical, mathematical and engineering science (associate) professionals, life science and health (associate) professionals, as well as other (associate) professionals exhibited significantly larger brain drain rates than teaching (associate) professionals. The data also suggest non-negligible occupation-education mismatches due to the imperfect transferability of skills acquired through formal education because south-north migrants with a university degree worked more often in occupational categories requiring less than tertiary education compared to OECD natives. The employment shares of most types of professionals and technicians and associate professionals, as well as of clerks and corporate managers were significantly smaller in the migrant-sending countries compared to the receiving countries.
The constructed data sets constitute the first comprehensive data sets on south-north migration by ISCO-88 major and sub-major occupational category for cross-sections of, respectively, 91 and 17 developing countries of emigration.
The purpose of this paper is to investigate and assess the trends of bilateral services trade in the world segmented by trade for final consumption and intermediate usage…
The purpose of this paper is to investigate and assess the trends of bilateral services trade in the world segmented by trade for final consumption and intermediate usage across several service sectors. The differential trends, if any, are studied while examining the role of free trade agreements which have a chapter on services trade as well as the role of services trade restrictions. The study unravels differences across service sectors in this respect.
The author uses an augmented gravity model to address the above using OECD- World Trade Organization (WTO) TiVA data for bilateral trade in intermediates and final products (October 2015 release) and World Bank Services Trade Restrictions Index (STRI). The poisson pseudo maximum likelihood estimation technique is used in light of the structure of the data. Trade creating and diverting effects are identified controlling for time and country-time specific effects. The following sectors are specifically looked at: total business sector services, computer and related services, financial intermediation, post and telecommunication, transport and storage, R&D and other business services, hotels and restaurants, construction, and wholesale and retail trade.
First, services free trade agreements (FTAs) have had a trade creating impact with no trade diverting impact for services trade in aggregate with stronger effects on services traded for intermediate usage. Second, financial intermediation and post and telecommunication have been left unaffected by services FTAs. While no trade diversion is concluded for any sector, R&D and other business services, transport and storage and wholesale retail trade show maximum trade creation effects in response to FTAs. Third, trade restrictions of mainly OECD countries are responsible for lowering exports for most sectors. Finally, in terms of policy implications, at a general level, the author does not find a significant difference in the author’s results for services traded for intermediate usage or final consumption except for a stronger effect of FTAs on intermediate services trade. Hence, the policies to foster services trade on both counts are concluded to be the same and deal with behind-the-border policies of domestic industrial policy reforms like national treatment of foreign firms, licensing requirements, FDI policies, etc.
Statistics for services trade are limited. The data are only available for the years 1995, 2000, 2005, 2008, 2009, 2010 and 2011. Additionally, the conclusions on services trade restrictions are based on statistics for 2011 alone, since this is the only year for which the statistics are available. A complete time series for the entire sample period would increase robustness of the study with a better time variant version of the trade restrictiveness variable. Finally, in the construction of the OECD-WTO-TiVA database of a world IO table, there may have been approximations in constructing statistics for services traded for intermediate usage and final consumption. The results remain sensitive to the same but this is the best possible statistics available for the purposes.
This is the first study which looks at services trade segmented by trade for final consumption and intermediate usage taking advantage of the available data for a number of service sectors. The role of restrictions is also studied for the first time segmented by trade in intermediates and final consumption. The stronger effects of FTAs on intermediate services trade as well as financial intermediation and post and telecommunication services being insulated from effects of FTAs are important findings, especially since services are mainly thought to be traded for final consumption. Similar trends of results for services traded for intermediate usage and final consumption and restrictions affecting exports from exporter countries and imports by importer countries highlight the importance of behind-the-border domestic policies in facilitating or inhibiting services trade on both counts and more importantly for intermediate usage which, in turn, would improve goods tradability.
Apparel exports by OECD countries and imports of developing countries, the counter‐flow of international trade in apparel, were examined. Application of a gravity model…
Apparel exports by OECD countries and imports of developing countries, the counter‐flow of international trade in apparel, were examined. Application of a gravity model indicated that proximity was important in determining the marketing destinations of apparel exports of OECD countries. There was a large variation in apparel imports to the developing countries from the developed countries, and while generally increasing, there were also large fluctuations over time. The trade flow was explained by differentiation of products and inequality of income in the developing countries. Regression analysis was used to determine the factors which influenced apparel imports of developing countries from OECD countries. The result indicated that income level was the most important determinant, and that apparel imports were income elastic. Market conditions, and remarkably, market barrier, had no significant impact.
Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…
Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.
This chapter presents a theoretical and historical account of the OECD policy diffusion mechanisms, specifically addressing their influence on teacher policy. In order to…
This chapter presents a theoretical and historical account of the OECD policy diffusion mechanisms, specifically addressing their influence on teacher policy. In order to present our argument, the chapter is divided in three sections. First, we present a historical description of how the Directorate of Education and Skills of the OECD has become a central figure in global policy discussions. Then, we address the particular mechanisms through which the OECD is able to expand their influence. We argue that the scientific validation of their recommendations through country reviews and the invitation to participate in large-scale studies and surveys, such as the Programme for International Students Assessment (PISA) and the Teaching and Learning Survey (TALIS), have become pivotal for communicating policy messages concerning teacher quality and development. Next, we argue that while OECD recommendations are engrained in notions of human capital, their work on teachers has incorporated elements of professional capital. Additionally, we stress how the influence of social science and large-scale survey studies has contributed to the development of a concept of teacher professionalization promoted by the OECD.
The new economic-policy regime in Sweden in the 1990s included deregulation, central-bank independence, inflation targets and fiscal rules but also active labour market…
The new economic-policy regime in Sweden in the 1990s included deregulation, central-bank independence, inflation targets and fiscal rules but also active labour market policy and voluntary incomes policy. This chapter describes the content, determinants and performance of the new economic policy in Sweden in a comparative, mainly Nordic, perspective. The new economic-policy regime is explained by the deep recession and budget crisis in the early 1990s, new economic ideas and the power of economic experts. In the 1998–2007 period, Sweden displayed relatively low inflation and high productivity growth, but unemployment was high, especially by national standards. The restrictive monetary policy was responsible for the low inflation, and the dynamic (ICT) sector was decisive for the productivity miracle. Furthermore, productivity increases in the ICT sector largely explains why the Central Bank undershot its inflation target in the late 1990s and early 2000s. The new economic-policy regime in Sweden performed well during the global financial crisis. However, as in other OECD countries, the moderate increase in unemployment was largely attributed to labour hoarding. And the rapid recovery of the Baltic countries made it possible for Sweden to avoid a bank crisis.