This document provides an economic survey of Greece by the OECD in 2018. It summarizes that the Greek economy is recovering from its crisis, with GDP and employment growing while unemployment is falling. However, productivity continues to decline and poverty remains very high. Additional structural reforms in areas like public administration, taxation, pensions, education and reducing non-performing loans would help boost inclusive and sustainable growth.
Italy is recovering after a deep and long
recession. Structural reforms, accommodative
monetary and fiscal conditions, and low
commodity prices have helped the economy to turn
the corner.
Italy is recovering after a deep and long
recession. Structural reforms, accommodative
monetary and fiscal conditions, and low
commodity prices have helped the economy to turn
the corner.
A presentation of the main findings and recommendations of the OECD Economic Survey of Spain 2014 launched 8 September 2014 in Madrid, Spain.
Structural reforms (labour market, banking, fiscal) have put the economy on the road to recovery.
Portugal has undertaken an ambitious structural reform programme since 2011. Reforms have spanned across a wide range of policy areas, product markets, labour markets, taxes, regulations and the public sector.
Since 2000, the quality of life of Colombians has improved markedly. Macroeconomic and social policies have sustained strong GDP growth and reduced poverty.
A presentation of the main findings and recommendations of the OECD Economic Survey of Spain 2014 launched 8 September 2014 in Madrid, Spain.
Structural reforms (labour market, banking, fiscal) have put the economy on the road to recovery.
Portugal has undertaken an ambitious structural reform programme since 2011. Reforms have spanned across a wide range of policy areas, product markets, labour markets, taxes, regulations and the public sector.
Since 2000, the quality of life of Colombians has improved markedly. Macroeconomic and social policies have sustained strong GDP growth and reduced poverty.
Presentation delivered by OECD Secretary-General Angel Gurría for the joint launch of the 2018 Environmental Performance Review and Economic Survey of the Czech Republic.
Presentation of Prof. Lars Feld - The Economic Situation in EMU - Where do we...Bankenverband
GCEE Business Cycle Update, March 2018: “In the euro area, the level of indebtedness of many member states remains very high. This is particularly true of Italy where the national debt stands at over 130 % of GDP. Should financial markets lose confidence in the sustainability of public debt on account of the political uncertainty resulting from the outcome of the election, given the size of the Italian economy a return of the euro crisis cannot be ruled out. Furthermore, risks to financial stability continue to persist in certain member states due to the fragility of many banks, particularly with regard to the extent of non-performing loans.”
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...
Achieving an inclusive and sustained recovery Greece 2018 OECD Economic Survey
1. OECD ECONOMIC SURVEY
OF GREECE 2018
Achieving an inclusive and
sustained recovery
30 April 2018, Athens
http://www.oecd.org/eco/surveys/economic-survey-greece.htm
@OECDeconomy
@OECD
4. Competitiveness has improved
Source: OECD (2018), OECD Economic Outlook: Statistics and Projections (database).
Relative unit labour costs
4
70
80
90
100
110
120
2000 2002 2004 2006 2008 2010 2012 2014 2016
Greece
Euro area
Index, 2010=100
5. The fiscal situation is strengthening
Note: The primary balance definition is different from that used in the ESM Support Stability Programme.
Source: OECD (2018), OECD Economic Outlook: Statistics and Projections (database) and EC (2018) Compliance
Report ESM Stability Support Programme for Greece
5
-12
-10
-8
-6
-4
-2
0
2
4
6
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
% of GDP
Government primary balance ESM programme target
Primary budget surplus
6. Structural reforms have been extensive
Reforms implemented Ongoing reforms Reforms to do
Tax compliance
Spending reviews
Corporate law
Insolvency procedures
E-auctions, loan servicing
bodies and secondary
market
Out-of-court workout
Opening protected
markets
Targeted social protection
for low income families
State asset management
and concessions
Public administration and
financial management
Anti-corruption
Judiciary
Capital controls
Regulation impact assessments
Pensions
Rationalise social benefits and
administration
Housing and disability
allowances
Active labour market
programmes for re-training and
job matching
School management
Further product market
liberalisation
Public administration and
judiciary for rule of law
Complete land registry
Logistics and transport plan
Arrangements for agreeing
pay and work conditions
Minimum wage commission
In-work benefits for low wages
Certify professional education
Expand active labour market
and family programmes
Raise effective retirement age
6
7. Productivity continues to decline
Source: OECD (2018), OECD Economic Outlook: Statistics and Projections (database).
Labour productivity
7
85
90
95
100
105
110
115
2000 2002 2004 2006 2008 2010 2012 2014 2016
Greece
Euro area
OECD
Index, 2010=100
8. Investment fell sharply during the crisis
Source: OECD (2018), OECD Economic Outlook: Statistics and Projections (database).
8
Real investment
20
40
60
80
100
120
20
40
60
80
100
120
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Greece Euro area
Index, 2017=100 Index, 2017=100
9. Poverty is very high,
especially among the young
Source: Eurostat (2018), EU Statistics on Income and Living Conditions (database).
Severe material deprivation rate
9
0
5
10
15
20
25
30
0
5
10
15
20
25
30
%
Greece, 2016 EU, 2016 2009
Total Under 18Total Under 18
%
11. Deeper reforms would boost growth
Source: OECD calculations
Impact of structural reforms on level of GDP
11
80
120
160
200
240
80
120
160
200
240
2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060
Legislated and ongoing reforms
Deeper reforms to product markets and public administration
Index, 2017=100 Index, 2017=100
12. Additional reforms and debt restructuring
would reduce public debt
* Official creditor interest rates fixed at 2% from 2020 and ESFS repayments postponed until 2031.
Source: Calculations based on OECD (2018), OECD Economic Outlook: Statistics and Projections (database).
General government debt
12
40
60
80
100
120
140
160
180
200
220
40
60
80
100
120
140
160
180
200
220
2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060
% of GDP
Legislated and ongoing reforms
Deeper reforms to product markets and public administration
Deeper reforms + debt restructuring*
% of GDP
13. Tax collection is improving but remains low
Source: OECD (2016), Consumption Tax Trends 2016: VAT/GST and Excise Rates, Trends and Policy Issues, OECD
(2018), OECD Revenue Statistics (database) and OECD National Accounts Statistics (database).
13
VAT revenue ratio
0
20
40
60
80
100
0
20
40
60
80
100
MEX
ITA
GRC
TUR
ESP
POL
GBR
BEL
FRA
IRL
CAN
PRT
AUS
NLD
SVK
LVA
ISL
FIN
OECD
DEU
NOR
DNK
SWE
CZE
AUT
SVN
HUN
ISR
KOR
CHL
CHE
JPN
EST
LUX
NZL
2015 2013
% %
14. Spending efficiency can improve
Source: OECD (2016), Survey of Performance Budgeting and OECD (2017), Government at a Glance 2017.
Use of performance budgeting
0 to 1 (highest), central government
14
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
ESP
SVK
ISL
HUN
PRT
ISR
LUX
ITA
USA
TUR
LVA
JPN
NOR
NZL
DEU
POL
GRC
AUS
CZE
BEL
CHL
OECD
IRL
SVN
DNK
FRA
EST
NLD
CAN
FIN
SWE
CHE
AUT
GBR
MEX
KOR
2016 2011
15. Disposing less waste in landfills would
improve well-being
Source: OECD (2017), Green Growth Indicators (database).
Municipal waste treatment
15
0
20
40
60
80
100
Greece OECD
% of treated
Incineration
Recycling
and
composting
Landfill
Recycling
and
composting
Landfill
16. Main recommendations
Boosting inclusive and sustainable growth
Maintain the reform momentum focusing on implementation, enhancing public
administration efficiency and continuing to fight corruption
Maintain the primary surplus agreed with official creditors and facilitate debt
restructuring as needed.
Reduce tax evasion by extending the use of risk analysis, targeted tax audits and
strengthening incentives for voluntary tax compliance.
Extend the obligation of having an electronic cash register to all self-employed and
introduce e-invoicing.
Undertake regular spending reviews and extensive use of performance budgeting.
Enforce EU standards for waste disposal and urban waste-water treatment.
More in the Assessment & Recommendations
16
18. Wages are moving in line with productivity
Source: OECD (2018), OECD National Accounts Statistics (database) and Eurostat (2017), Labour Market Statistics
(database).
18
90
100
110
120
130
140
150
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Real wages
Productivity
Main labour
market reforms
Index, 2014Q1 = 100
19. The minimum wage is near the OECD
average
Source: OECD (2018), Labour Statistics (database)
Ratio of full-time minimum wage to median wages
2016 or latest
19
0.0
0.2
0.4
0.6
0.8
USA
MEX
ESP
CZE
JPN
EST
NLD
IRL
CAN
DEU
SVK
GRC
GBR
BEL
KOR
LVA
HUN
AUS
POL
LUX
ISR
PRT
SVN
FRA
NZL
CHL
TUR
20. Many employees earn below the minimum
wage
Source: OECD calculations based on the ERGANI database from the Greek Ministry of Labour, Social Insurance and
Social Solidarity, and Eurostat (2017), EU Statistics on Income and Living Conditions (database).
20
Number of employees earning different wages
September 2017
0
40
80
120
160
200
0
40
80
120
160
200
1-400
550-600
750-800
950-1000
1150-1200
1350-1400
1550-1600
1750-1800
1950-2000
2150-2200
2350-2400
2550-2600
2750-2800
2950-3000
6000-7000
10000+
Gross monthly wage, EUR
Full-time gross monthly minimum wage (EUR 586)
Employees, thousands
652
Employees, thousands
Median salary
Poverty line for a single adult (EUR 313)
21. Poverty is highest among the unemployed
Source: Eurostat (2018), EU Statistics on Income and Living Conditions (database).
Population at risk of poverty or social exclusion
18 year-olds and over
21
0
20
40
60
80
0
20
40
60
80
Total Employed Retired Unemployed
%%
2016 2008
22. Pensions dominates social protection spending
Source: Eurostat (2018), Social Protection Statistics (database).
Social protection spending by function
2015 or latest
22
0
8
16
24
32
40
0
8
16
24
32
40
IRL
TUR
ISL
LUX
EST
LVA
SVK
CZE
HUN
DEU
POL
NOR
ESP
SVN
BEL
CHE
NLD
DNK
GBR
SWE
FIN
PRT
AUT
FRA
ITA
GRC
% of GDP% of GDP
Pensions Family, healthcare and other
23. Recent reforms raise poor households’ income
Source: OECD calculations based on the OECD tax-benefit model.
Income of an unemployed couple with children
23
-10
0
10
20
30
40
50
60
-10
0
10
20
30
40
50
60
Pre-reforms Social Solidarity
Income
introduced
Family benefits
& tax reforms
introduced
Proposed
housing
allowance
OECD average
Social assistance Housing allowances Family benefits Taxes
Poverty threshold (50 % of median)
% median disposable income% median disposable income
24. Graduation rates are high
Source: OECD (2017), OECD Education at a Glance 2017: OECD indicators
24
Upper secondary graduation rates
Under 25 years old, 2015
0
20
40
60
80
100
Greece OECD
% Vocational programmes
General programmes
26. Few adults re-skill through life-long learning
Source: Eurostat (2017), Education and training (database).
Participation in education and training
2017
26
0
5
10
15
20
25
30
35
0
5
10
15
20
25
30
35
Slovakia
Poland
Greece
Turkey
Ireland
Hungary
Latvia
Belgium
Italy
Germany
CzechRep.
Spain
Portugal
EU
Slovenia
UnitedKingdon
Austria
Estonia
Luxembourg
France
Netherlands
Norway
Iceland
Finland
Denmark
Sweden
Switzerland
% 25-64 year olds % 25-64 year olds
27. Share of workers whose skills do not match their job
2015
0
5
10
15
20
25
30
35
40
45
0
5
10
15
20
25
30
35
40
45
POL
CAN
BEL
SWE
USA
FRA
NLD
DNK
JPN
FIN
EST
KOR
GBR
SVN
NOR
SVK
TUR
OECD
AUS
DEU
ISR
AUT
NZL
IRL
CZE
ESP
ITA
GRC
CHL
%%
Over-skilling Under-skilling
Skill mismatch is high
Source: Adalet McGowan, and Andrews (2017), "Skills Mismatch, Productivity and Policies in New Zealand: Evidence
from the second wave of PIAAC", OECD Economics Department Working Papers. OECD calculations based on Survey
of Adult Skills (PIAAC).
27
28. Main recommendations
Expanding employment, reducing poverty and
improving skills
Introduce collective-wage bargaining covering broad working conditions and without
automatic extensions
Ensure collective agreements are sufficiently flexible so that they can be adapted to specific
firm level conditions
Establish a commission of social partners and independent experts to recommend
minimum wage adjustments
Introduce assessment frameworks and professional development schemes; gradually give
schools and teachers greater pedagogical and managerial autonomy
Scale up post-secondary vocational education and adult education, linking them with labour
market needs, and certify the quality of courses
Evaluate reskilling programmes, expand successful and cost-effective approaches and
cancel those that are not.
Continue spending reviews to reallocate resources to targeted social programmes.
Further rationalise remaining non-targeted programmes.
Consider introducing in-work benefits.
More in Chapter 2: Generating employment,
raising incomes and addressing poverty
28
30. Banks’ non-performing loans are high
Non-performing loans relative to total gross loans and advances
Source: European Banking Authority (2018),"Risk Dashboard, Data as of Q3 2017".
30
0
10
20
30
40
50
0
10
20
30
40
50
EST
GBR
NLD
DNK
LVA
BEL
FRA
SVK
AUT
EU
ESP
IRL
ITA
SVN
PRT
GRC
% %
32. Capital is trapped in zombie firms
Share of capital in zombie firms
2013
Note: “Zombie” firms are 10 years or older with three consecutive years of interest expenses exceeding earnings before
interest and taxes.
Source: Adalet McGowan, Andrews and Millot (2017), "Insolvency regimes, zombie firms and capital reallocation",
OECD Economics Department Working Papers.
32
0
5
10
15
20
25
30
0
5
10
15
20
25
30
SVN FRA JPN FIN GBR AUT KOR SWE DEU LUX PRT BEL ESP ITA GRC
%%
33. Insolvency processes are improving
Insolvency indicator
Source: Adalet McGowan, Andrews and Millot (2017), "Insolvency regimes, zombie firms and capital reallocation",
OECD Economics Department Working Papers.
33
0.0
0.2
0.4
0.6
0.8
0
0.2
0.4
0.6
0.8
GBR
JPN
DEU
PRT
ESP
USA
CHE
FRA
ISR
IRL
GRC
CHL
FIN
SVN
NZL
ITA
CZE
POL
MEX
LVA
AUT
NOR
SVK
TUR
SWE
AUS
CAN
BEL
NLD
HUN
EST
IndexIndex
2016 2010
34. Contract enforcement is weak
Source: World Bank (2018), Doing Business 2018 (database).
34
0
20
40
60
80
100
GRC
SVN
CAN
ITA
IRL
ISR
CZE
SVK
NLD
CHL
POL
BEL
JPN
FIN
CHE
OECD
MEX
SWE
DNK
GBR
TUR
ISL
ESP
DEU
NZL
LVA
PRT
USA
FRA
LUX
HUN
EST
AUT
NOR
AUS
KOR
Enforcing contracts
Relative to the top performer, 2018
35. The business environment can improve further
Source: OECD (2017), Product Market Regulation database and OECD calculations.
35
Product market regulation index
0.0
0.5
1.0
1.5
2.0
2.5
3.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
NLD
GBR
AUT
DNK
NZL
AUS
DEU
SVK
ITA
EST
FIN
PRT
HUN
BEL
CZE
JPN
CAN
ESP
IRL
LUX
NOR
FRA
OECD
ISL
CHE
CHL
SWE
USA
LVA
POL
SVN
GRC
KOR
MEX
ISR
TUR
2013 2017
Index 0 to 6, from least to most restrictive
2008 (preliminary)
36. Regulatory impact assessments are
underused
Source: OECD (2015), OECD Regulatory Policy Outlook 2015.
Ex-post evaluation of primary laws
2014
36
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
GRC
TUR
IRL
SVK
USA
FIN
CZE
JPN
ESP
FRA
PRT
CHL
SVN
NOR
HUN
ISL
ITA
NLD
OECD
LUX
DNK
POL
ISR
KOR
NZL
AUT
EST
SWE
CHE
CAN
BEL
DEU
MEX
GBR
AUS
Composite index Composite index
37. Barriers to FDI are low
FDI regulatory restrictiveness index
0 (open) to 1 (closed)
Source: OECD (2017), "FDI statistics according to Benchmark Definition 4th Edition (BMD4): Foreign direct investment:
main aggregates", OECD Globalisation Statistics (database).
37
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.00
0.05
0.10
0.15
0.20
0.25
0.30
LUX
PRT
SVN
CZE
NLD
EST
FIN
ESP
DEU
HUN
LVA
GRC
DNK
BEL
GBR
IRL
FRA
SVK
ITA
JPN
CHL
SWE
TUR
OECD
POL
CHE
NOR
USA
AUT
ISR
KOR
AUS
CAN
ISL
MEX
NZL
2016 2006
38. Inwards FDI stocks are low but improving
FDI inward stocks
Source: OECD (2017), "FDI statistics according to Benchmark Definition 4th Edition (BMD4): Foreign direct investment:
main aggregates", OECD Globalisation Statistics (database).
38
0
10
20
30
40
50
60
0
10
20
30
40
50
60
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
% of GDP% of GDP
Greece OECD EU
39. Participation in global value chains can be
strengthened
Foreign value added in exports
Source: OECD (2017), "TiVA Nowcast Estimates“, OECD International Trade and Balance of Payments Statistics database
39
0
10
20
30
40
50
60
0
10
20
30
40
50
60
Australia
NewZealand
Norway
Chile
Switzerland
Turkey
Israel
Greece
Spain
Austria
Sweden
Denmark
Estonia
Portugal
Netherlands
Poland
Mexico
Slovenia
Iceland
Finland
Belgium
Korea
CzechRep.
Hungary
Slovakia
Ireland
Luxembourg
% %
40. Transport infrastructure hampers Greece’s
participation in global trade
Source: World Economic Forum, "The Global Competitiveness Report 2017-2018".
RailroadsPorts
40
Global Competitiveness Index
2017-18
0
1
2
3
4
5
6
7
HUN
CZE
AUT
ITA
GRC
CHE
AUS
OECD
FRA
IRL
PRT
JPN
CAN
DEU
ESP
SWE
GBR
DNK
USA
BEL
NLD
0 to 7 (best)
0
1
2
3
4
5
6
7
GRC
HUN
IRL
AUS
ITA
PRT
CZE
OECD
DNK
SWE
GBR
BEL
CAN
AUT
DEU
ESP
USA
FRA
NLD
JPN
CHE
0 to 7 (best)
41. Main recommendations
Boosting investment
Simplify regulatory impact assessments and build a network of civil servants with
regulatory-quality expertise.
Expand the scope of the “silence is consent” rule, ex-post compliance monitoring and
one-stop shops; ensure that they have the resources to operate effectively
Fully implement the legislated insolvency reforms
Ensure a sufficient number of well-trained insolvency professionals start operating
soon
Fully implement out-of-court workout procedures and e-auctions.
Continue to align banks’ governance standards with international best practices
Align tax incentives for disposing of non-performing loans with those of previous
legislation and make them temporary
Finalise and implement the state asset management strategy and link it with the
privatisation programme.
Complete the land registry
More in Chapter 1: Boosting investment 41
42. 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.
Follow us on twitter:http://www.oecd.org/eco/surveys/economic-survey-greece.htm
OECD Economics
OECD
For more information:
42