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www.oecd.org/eco/surveys/economic-survey-sweden.htm
OECD
OECD Economics
2015 OECD ECONOMIC
SURVEY OF SWEDEN
Growth and ski...
The economy has been resilient
2
90
95
100
105
110
115
120
125
90
95
100
105
110
115
120
125
2005 2006 2007 2008 2009 2010...
Well-being is high
3
0.0
0.2
0.4
0.6
0.8
1.0
Income
Jobs and earnings
Housing
Work and life balance
Health status
Educatio...
Growth is green
4
0.0
0.5
1.0
1.5
2.0
2.5
0.0
0.5
1.0
1.5
2.0
2.5
CHE
SWE
FRA
NOR
ESP
GBR
AUT
ITA
PRT
JPN
DEU
DNK
ISR
NLD
...
Productivity has slowed
5
100
110
120
130
140
150
160
100
110
120
130
140
150
160
1993 1995 1997 1999 2001 2003 2005 2007 ...
Unemployment remains relatively high
6
0
2
4
6
8
10
12
14
0
2
4
6
8
10
12
14
2005 2006 2007 2008 2009 2010 2011 2012 2013 ...
Main Findings
o The economy has been resilient.
o Well-being is high, and growth is greener than in most other OECD
countr...
Key Recommendations
 Broaden support for innovation and enhance coordination of innovation
and research policies.
 Simpl...
Strengthening the foundations
for growth
Sweden is close to the global efficiency frontier
Boosting growth
requires innovation
10
Source: OECD (2015), Economic Pol...
The current account surplus is high
11
Sweden is well
integrated in global
value chains
Services and
investment income
con...
Sweden is an innovation leader
12
Innovation has been
boosting productivity
growth and living
standards
Keeping an edge in...
International competition is becoming tougher,
including in high-productivity sectors
13
Enhance the role of services and...
There is room for improving framework conditions
14
 Simplify regulatory procedures
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Overall P...
R&D expenditure and knowledge-intensive jobs
go together
15
Source: Eurostat.
Business enterprise R&D (BERD) expenditure a...
Skills and inclusive growth
High employment keeps inequalities low
17
Wage
compression,
along with taxes
and transfers,
contribute to low
inequalities...
The low-skilled struggle to get a foothold in the
labour market
18
 Enhance skills.
 Increase flexibility in entry level...
The fall in PISA results will likely translate into
lower adult skills
19
460
480
500
520
540
560
460
480
500
520
540
560
...
Performance in compulsory school should be
improved
20
 Raise the attractiveness of the teaching profession by:
• Increas...
Skills vary considerably across educational
attainment
21
 Increase support for struggling students, notably immigrants
...
Sweden receives high humanitarian and family
reunion immigration
Permanent immigration by category of entry
2012
22
Source...
Literacy proficiency is crucial for immigrants to
get jobs
23
 Enhance support and incentives for immigrants to learn Swe...
More Information…
www.oecd.org/eco/surveys/economic-survey-sweden.htm
OECD
OECD Economics
Disclaimers:
The statistical dat...
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OECD-main-findings-Sweden-2015-growth-and-skills

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OECD main findings Sweden 2015 growth and skills

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OECD-main-findings-Sweden-2015-growth-and-skills

  1. 1. www.oecd.org/eco/surveys/economic-survey-sweden.htm OECD OECD Economics 2015 OECD ECONOMIC SURVEY OF SWEDEN Growth and skills Stockholm, 30 March 2015
  2. 2. The economy has been resilient 2 90 95 100 105 110 115 120 125 90 95 100 105 110 115 120 125 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2005Q1=1002005Q1=100 Real GDP Sweden Germany United States Euro area Finland Denmark Source: OECD Economic Outlook database.
  3. 3. Well-being is high 3 0.0 0.2 0.4 0.6 0.8 1.0 Income Jobs and earnings Housing Work and life balance Health status Education and skillsSocial connections Civic engagement and governance Environmental quality Personal security Subjective well-being Sweden OECD Nordics Source: OECD (2013), How’s Life? 2013: Measuring Well-being.
  4. 4. Growth is green 4 0.0 0.5 1.0 1.5 2.0 2.5 0.0 0.5 1.0 1.5 2.0 2.5 CHE SWE FRA NOR ESP GBR AUT ITA PRT JPN DEU DNK ISR NLD LUX BEL GRC HUN CHL SVN MEX SVK IRL TUR USA CAN CZE KOR LTV POL NZL AUS FIN EST ISL Tons of CO2 per thousand USD PPP Tons of CO2 per thousand USD PPP Source: International Energy Agency, World Energy Statistics and Balances (database). Greenhouse gas emissions per unit of GDP
  5. 5. Productivity has slowed 5 100 110 120 130 140 150 160 100 110 120 130 140 150 160 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 1993=100 1993=100 Sweden Finland United States Germany Real GDP per hour worked Source: OECD Productivity database.
  6. 6. Unemployment remains relatively high 6 0 2 4 6 8 10 12 14 0 2 4 6 8 10 12 14 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 % of labour force% of labour force Sweden Germany United States Denmark Finland Euro area Source: OECD Economic Outlook database. Unemployment rate
  7. 7. Main Findings o The economy has been resilient. o Well-being is high, and growth is greener than in most other OECD countries. o Productivity growth has slowed, reflecting cyclical but also structural factors. o Sweden has a strong comparative advantage in knowledge-intensive activities, which needs to be preserved. o Educational achievements have slipped. o Young people with low qualifications and immigrants are the most vulnerable to unemployment. 7
  8. 8. Key Recommendations  Broaden support for innovation and enhance coordination of innovation and research policies.  Simplify business and land-use planning regulations.  Make teaching more attractive and improve teacher education.  Increase support for struggling students, notably immigrants. 8
  9. 9. Strengthening the foundations for growth
  10. 10. Sweden is close to the global efficiency frontier Boosting growth requires innovation 10 Source: OECD (2015), Economic Policy Reforms 2015: Going for Growth. 80 82 84 86 88 90 92 94 96 98 100 80 82 84 86 88 90 92 94 96 98 100 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 %% Output relative to upper half of OECD countries GDP per capita GDP per hour worked
  11. 11. The current account surplus is high 11 Sweden is well integrated in global value chains Services and investment income contribute strongly to the surplus Source: OECD Main Economic Indicators. -6 -4 -2 0 2 4 6 8 10 12 -6 -4 -2 0 2 4 6 8 10 12 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 % of GDP% of GDP Transfers + Goods Income + Services Current account
  12. 12. Sweden is an innovation leader 12 Innovation has been boosting productivity growth and living standards Keeping an edge in innovation is crucial Source: European Commission, Innovation Union Scoreboard 2014. 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 TUR POL HUN GRC PRT ESP ITA NOR EST SVN EU FRA ISL AUT IRL GBR BEL NLD LUX FIN DEU DNK SWE CHE IndexIndex Modest innovators Moderate innovators Innovation followers Innovation leaders
  13. 13. International competition is becoming tougher, including in high-productivity sectors 13 Enhance the role of services and SMEs in the economy. Broaden support for innovation and enhance coordination of innovation and research policies. The recently created Innovation Council can be a key instrument to achieve these goals.
  14. 14. There is room for improving framework conditions 14  Simplify regulatory procedures 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Overall PMR State involvement in business operations Complexity of regulatory procedures Administrative burdens on start-ups Regulatory protection of incumbents Implicit barriers to trade and investment Sweden OECD Other Nordics Best performer Source: OECD (2013), Product Market Regulation Database.
  15. 15. R&D expenditure and knowledge-intensive jobs go together 15 Source: Eurostat. Business enterprise R&D (BERD) expenditure and skilled employment AUT BEL CZE DNK EST FIN FRA DEU GRC HUN ISL IRL ITA JPN NLD NOR POL PRT SVK SVN ESP SWE GBR USA EU28 0.0 0.5 1.0 1.5 2.0 2.5 3.0 25 30 35 40 45 BERDasa%ofGDP Knowledge-intensive activities as a percentage of total employment
  16. 16. Skills and inclusive growth
  17. 17. High employment keeps inequalities low 17 Wage compression, along with taxes and transfers, contribute to low inequalities 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.0 0.1 0.2 0.3 0.4 0.5 0.6 SVN NOR ISL DNK CZE FIN SVK BEL SWE LUX NLD AUT CHE HUN DEU IRL POL KOR FRA CAN ITA EST NZL AUS GRC JPN PRT ESP GBR ISR USA TUR MEX CHL IndexIndex Latest 1990s Source: OECD Income Distribution and Poverty Database. Gini coefficient post taxes and transfers
  18. 18. The low-skilled struggle to get a foothold in the labour market 18  Enhance skills.  Increase flexibility in entry level wages.  Reduce the gap in employment protection between permanent and temporary contracts.
  19. 19. The fall in PISA results will likely translate into lower adult skills 19 460 480 500 520 540 560 460 480 500 520 540 560 2003 2006 2009 2012 Average PISA scoreAverage PISA score PISA results in the Nordics Sweden Denmark Norway Finland Source: PISA Databases (2009 and 2012). The OECD Survey of Adult Skills (PIAAC) also shows weaker results for younger cohorts
  20. 20. Performance in compulsory school should be improved 20  Raise the attractiveness of the teaching profession by: • Increasing monetary incentives • Offering better career paths • Improving teacher education  Consider consolidating some of the institutions that advise on and supervise education policy into an education policy council.
  21. 21. Skills vary considerably across educational attainment 21  Increase support for struggling students, notably immigrants  Target resources based on socio-economic background 2 3 4 5 225 275 325 375 Atmostlower secondary Uppersecondary- vocational Uppersecondary- general Post-secondarynot tertiary Tertiarytype vocational Tertiaryacademic andresearch PIAAC levelPIAAC score Range of literacy proficiency among young adults in Sweden Source: OECD Survey of Adult Skills (2012).
  22. 22. Sweden receives high humanitarian and family reunion immigration Permanent immigration by category of entry 2012 22 Source: OECD International Migration Outlook 2014. 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.0 0.1 0.2 0.3 0.4 0.5 0.6 MEX JPN KOR GBR ESP DEU DNK PRT IRL NLD ITA AUT FRA OECD BEL FIN USA CAN CHE AUS NOR NZL SWE % of total population% of total population Family Humanitarian
  23. 23. Literacy proficiency is crucial for immigrants to get jobs 23  Enhance support and incentives for immigrants to learn Swedish 1 2 3 4 5 175 225 275 325 375 Foreign-born Native-born Foreign-born Native-born Foreign-born Native-born Lower than upper secondary Upper secondary Tertiary PIAAC levelPIAAC score Poorer literacy and higher variation among young immigrants than their native peers 0 10 20 30 40 50 60 70 80 At most lower secondary Upper secondary Tertiary education % Non-EU young adults are less educated than their native peers EU Non-EU Native Source: OECD Survey of Adult Skills (2012).
  24. 24. More Information… www.oecd.org/eco/surveys/economic-survey-sweden.htm OECD OECD Economics Disclaimers: The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. 24

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