The Organization for Economic Cooperation and Development (OECD) has released the 2013 edition of its annual publication on "Going for Growth." This report examines the side effects of growth-enhancing policies on the global environment and income distribution.
15 February 2013: The Organization for Economic Cooperation and Development (OECD) has released the 2013 edition of its annual publication on “Going for Growth.” This report examines the side effects of growth-enhancing policies on the global environment and income distribution.
The report analyzes new indicators of progress in implementing policy reforms to improve economic productivity, and provides a set of reform recommendations to create sustained economic growth. It identifies five policy priorities and recommendations for each OECD member country, based largely on quantitative indicators of economic growth. A need to reduce unemployment and boost jobs is identified as a central priority for all countries. It also mentions the need for social benefit policies and tax reform policies in many countries.
When assessing the potential side effects of growth-enhancing policies, the report says conflicts with re-distributional and environmental objectives are often found. Specifically highlighting that a boost in economic activity will result in “stronger pressures on environmental resources,” the report suggests reforms to create more sustainable economic practices. These recommendations include taxation on pollution emissions, facilitation of resource reallocation, and raising the production costs of environmentally-harmful practices. [Publication: Economic Policy Reforms: Going for Growth 2013] [“OECD Insights” Blog]