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OECD released a new report “Going for Growth” which assesses and compares the progress of countries in implementing structural policies since 2013, and also identifies new priorities to revive growth.
According to the report, structural reforms implemented since the early 2000s have contributed to raising potential GDP per capita by around 5% on average across countries; further reform based on OECD best practice could raise long-term level of GDP per capita by up to 10% on average across OECD countries. The authors of the report emphasize that the pace of structural reforms has slowed in most OECD countries in the past two years, but has been accelerating in major emerging markets. Many of the OECD’s pro-growth structural policies have little or no impact on income inequality among households – says the report.