Luxembourg is an advanced economy with the highest per capita income in the OECD, reflecting the dynamic services sector, notably in banking and other financial services.
Sweden's output has been lifted by an expanding labour force, investment and a recent pick-up in productivity.Unemployment is receding, although it remains relatively high for vulnerable groups, notably the foreign-born.
Sweden's output has been lifted by an expanding labour force, investment and a recent pick-up in productivity.Unemployment is receding, although it remains relatively high for vulnerable groups, notably the foreign-born.
Since 2000, the quality of life of Colombians has improved markedly. Macroeconomic and social policies have sustained strong GDP growth and reduced poverty.
Economic growth of around 7½% makes India the fastest-growing G20 economy. The acceleration of structural reforms, the move towards a rule-based policy framework and low commodity prices have provided a strong growth impetus.
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.
Economic growth of around 7½% makes India the fastest-growing G20 economy. The acceleration of structural reforms, the move towards a rule-based policy framework and low commodity prices have provided a strong growth impetus.
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.
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.
The OECD is examining how the two global mega-trends of population ageing and rising inequalities have been developing and interacting, both within and across generations. This work, and specifically a new report “Preventing Ageing Unequally” (to be released on 18 October), will take a life-course perspective, showing how inequalities in education, health, employment and income interact, and can result in large lifetime disparities across different groups. This discussion will focus on a policy agenda for more inclusive ageing to prevent, mitigate and cope with inequalities and ensure a better retirement for all, with policies coordinated across family, education, employment, social ministries and agencies.
International Summit on the Teaching Profession - The Future of Teaching and ...EduSkills OECD
This report discusses policies and practices that shape quality and equity in early childhood education and care. It examines how the work environment, including the educational background of staff, and the policies that shape teaching approaches affect the quality of the education provided to our youngest learners. The book concludes with an overview of current thinking about how young children use, and are affected by, information and communication technologies (ICT). Linking the way children interact with ICT inside of school to the way they already use it outside of school could be the key to unlocking technology’s potential for learning.Children learn at a faster rate during the first five years of their life than at any other time, developing cognitive, and social and emotional skills that are fundamental to their future achievements and well-being throughout childhood and as adults. Despite compelling evidence that high quality early childhood education and care programmes can make a crucial difference to children’s progress through school and success in adult life, large differences in access to and the quality of these programmes persist within and across countries.
Skills are the foundation upon which the Netherlands must continue to build its growth and prosperity. Following an extended slowdown in the wake of the global economic crisis, the Netherlands has returned to growth. Employment and labour market participation are both strong, and the Netherlands continues to enjoy a good quality of life with a comparatively wealthy society and comparatively low income inequality. Despite this success, the Netherlands cannot afford to be complacent. Ensuring that the Netherlands continues to be a prosperous and inclusive society in the future will mean ensuring that the Netherlands has a highly skilled population that engages in continuous skills development in adulthood, and finds ways to put those skills to effective use in the economy and society.
Market conditions are improving, but unemployment is still declining too slowly and unevenly across countries. It is projected to continue its slow decline, reaching 6.6% in the last quarter of 2016 while remaining above 20% in Greece and Spain. Weak real wage growth remains an issue of concern, particularly in the Euro area. Minimum wages can help underpin the income of low-paid workers, but must be closely coordinated with tax-benefit policies to be effective. Wage inequality has been rising in a large majority of OECD countries. To minimise the wage gap, investing in skills is crucial – particularly where skills are scarce relative to demand. In terms of job quality, emerging economies perform worse than OECD countries. Youth, low-skilled and informal workers typically hold the poorest quality jobs. To make labour markets more inclusive, activation policies have to be designed to improve the employability, expand the opportunities and maintain the motivation of jobseekers.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
This assessment plan proposal is to outline a structured approach to evaluati...
Lux 2017-oecd-economic-survey-en
1. 2017 OECD ECONOMIC
SURVEY OF LUXEMBOURG
Better skills for more inclusive growth
Paris, July, 21th
@OECD
@OECDeconomy
http://www.oecd.org/eco/surveys/economic-survey-luxembourg.htm
2. 2
Main messages
• Luxembourg’s economic performance is strong.
• The short-term fiscal stance is adequate. However, Luxembourg faces
high age-related costs.
• The modernisation strategy will require improvements in education
outcomes, especially for immigrants, and better upskilling of workers
over their lifetime.
• Inclusive growth would also benefit from reducing work disincentives
faced by low-skilled youth, women and older workers.
3. 3
Well-being is high
Life is good in Luxembourg
Note: Indicators are normalised to range between 10 (best) and 0.
Source: OECD (2016), OECD Better Life Initiative 2016, www.oecd.org/statistics/better-life-initiative.htm
0
2
4
6
8
10
Income and wealth
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
Luxembourg OECD
4. 4
Unemployment is low and declining
Unemployment rates, per cent of labour force
Source: OECD Economic Outlook 101 database.
0
5
10
15
20
2007 2009 2011 2013 2015 2017
Luxembourg Euro area
5. 5
There is ample fiscal space
General government fiscal balance, per cent of GDP
Source: OECD (2017), OECD Economic Outlook: Statistics and Projections (database).
-2
-1
0
1
2
3
4
5
6
7
-2
-1
0
1
2
3
4
5
6
7
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
% of GDP% of GDP
6. 6
But ageing costs are projected to rise
Gross public pension expenditure, per cent of GDP
Source: European Commission (2015), The 2015 Ageing Report: Economic and budgetary projections for the
28 EU Member States (2013-2060).
0
2
4
6
8
10
12
14
16
18
20
0
2
4
6
8
10
12
14
16
18
20
NLD IRL EST LVA GBR SVK SWE CZE LUX NOR DEU DNK POL EU HUN BEL SVN ESP FIN PRT AUT FRA ITA GRC
2013 2060
7. 7
House prices are growing strongly…
Real house prices, index 2007=100
Source: OECD, Analytical house prices indicators database.
90
100
110
120
130
140
150
90
100
110
120
130
140
150
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Seasonally adjustedSeasonally adjusted
Luxembourg Australia Belgium Canada
France Germany Sweden
8. 8
…and household indebtedness is rising also
Household debt, per cent of GDP or GNI
0
10
20
30
40
50
60
70
80
90
100
0
10
20
30
40
50
60
70
80
90
100
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
% of GNI (Gross National Income)
% of GDP (Gross Domestic Product)
Note: The instruments that are taken into account to compile household debt are debt securities and loans.
Data are presented in consolidated terms.
Source: OECD National Accounts Statistics.
9. 9
Economic growth is strong, but relies heavily
on the financial sector
Real GDP growth, year-on-year percentage changes
Source: OECD Economic Outlook 101 database.
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
2007 2009 2011 2013 2015 2017
Luxembourg Euro area
10. 10
Green growth requires further investment
Congestion times are among the highest in Europe
Hours spent in road congestion by the average driver every year, 2015
0
5
10
15
20
25
30
35
40
45
0
5
10
15
20
25
30
35
40
45
FIN EST SWE LVA SVK DNK CZE POL ESP SVN AUT HUN PRT FRA EU DEU NLD IRL LUX ITA BEL GRCGBR
Note: This indicator assumes two 30km trips per day (morning peak and evening peak) and 220 working
days. It takes into account all major roads in the 27 Member States for which data is available (about 2 500
000 kilometers).
Source: European Commission, EU transport scoreboard 2016.
11. 11
The demand for skills is changing
Average annual change in total employment requiring different tasks (thousands)
- 6
- 3
0
3
6
9
12
15
18
- 6
- 3
0
3
6
9
12
15
18
1996-2008 2009-10 2012-15
Non-routine manual Routine manual Abstract
Note: Refers to population aged between 15 and 64. Abstract tasks refer to problem-solving, intuition, persuasion and creativity.
Source: Eurostat (2017), Employment and unemployment (Labour Force Survey) (database), March.
12. 12
Luxembourg has long attracted immigrants
to fill vacancies
Net migration flows, % of total population
0.0
0.5
1.0
1.5
2.0
2.5
0.0
0.5
1.0
1.5
2.0
2.5
1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015
Source: STATEC.
13. 13
Recommendations for more resilient and
greener growth
1. The linkages between banks and investment funds need to be closely
monitored.
2. Additional macro-prudential measures should be introduced to rein in
high household indebtedness and increasing housing prices.
3. Housing supply should be supported by streamlined land planning,
introduction of time-limited building permits and increased taxation of
non-used constructible land.
4. Age-related costs should be reduced further by linking the legal age of
pension with life expectancy and the level of pensions to the level of
contributions.
5. Green growth requires higher taxes on transport fuel, a system of
congestion charges and further investment in transport infrastructure.
15. 15
Computer skills are high
0
5
10
15
20
25
30
35
40
45
50
0
5
10
15
20
25
30
35
40
45
50
FIN
LUX
NOR
DNK
SWE
ISL
EST
LTU
AUT
PRT
ESP
FRA
GBR
SVN
DEU
GRC
LVA
EU28
CZE
NLD
IRL
ITA
MLT
SVK
BEL
HUN
HRV
POL
BGR
TUR
ROU
%%
Note: Share of individuals aged 16 to 74 reporting to have carried out five or six specific tasks related to computer use.
Source: Eurostat (2015), Individuals’ level of computer skills; European Commission (2012.
Share of people with computer skills, 2014
16. 16
Skill mismatches are high
Note: Workers are classified as underskilled (overskilled) if they report that they need further training to cope well with
their duties (if they report that they have the skills to cope with more demanding duties).
Source: Sixth European Working Conditions Survey, 2015.
Self-reported skills mismatch
As percentage of all employment, 2015
0
10
20
30
40
50
60
0
10
20
30
40
50
60
PRT
FIN
ITA
NOR
BEL
LVA
SVK
CZE
NLD
POL
GBR
EU-28
FRA
GRC
ESP
DNK
IRL
SWE
CHE
LUX
DEU
HUN
SVN
EST
AUT
Overskilled Underskilled
17. 17
Education scores show a persistent gap
Average PISA scores, 2009-2015
Source: OECD (2016), PISA 2015 Results (Volume I): Excellence and Equity in Education.
460
465
470
475
480
485
490
495
500
505
460
465
470
475
480
485
490
495
500
505
Science Reading Mathematics
Mean scoreMean score
Luxembourg OECD average
18. 18
Grade repetition is high
Share of 15-years old who repeated a year at least once, per cent
0
5
10
15
20
25
30
35
0
5
10
15
20
25
30
35
ISL
SVN
GBR
FIN
DNK
EST
SWE
KOR
CZE
NZL
GRC
LVA
POL
CAN
SVK
AUS
IRL
ISR
HUN
TUR
USA
OECD
ITA
AUT
MEX
DEU
CHE
NLD
FRA
CHL
LUX
PRT
ESP
BEL
Source: OECD (2016), PISA 2015 Results (Volume I): Excellence and Equity in Education.
19. 19
The share of training in active labour market
policy spending is low
Per cent of GDP, average 2010-15 (or last available year)
Source: European Commission, Labour market policy (LMP) database.
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
GBR EST SVK CZE GRC LVA SVN ITA DEU NOR POL PRT LUX EU28 BEL ESP HUN AUT NLD IRL FRA FIN SWE DNK
Training Total LMP measures
20. 20
High marginal tax rates create disincentives to
work
Marginal Effective Tax Rates on increasing working hours, 2014
0
10
20
30
40
50
60
70
80
90
100
110
0
10
20
30
40
50
60
70
80
90
100
110
KOR
CHL
GRC
ESP
PRT
EST
ITA
TUR
LVA
USA
SVN
HUN
SVK
JPN
ISR
BEL
OECD
FRA
SWE
AUT
ISL
GBR
CAN
NOR
POL
DEU
CZE
NZL
NLD
CHE
AUS
FIN
DNK
IRL
LUX
% of gross earnings% of gross earnings
Note: From 33% to 67% of average wage, supplements included, for married couple.
Source: OECD, Tax-Benefit Models.
21. 21
Work disincentives for second earners are
high
Net personal average tax rates on second earners, 2015
0
5
10
15
20
25
30
35
40
45
50
0
5
10
15
20
25
30
35
40
45
50
MEX
CHL
ISR
KOR
NZL
AUS
GBR
IRL
GRC
EST
CHE
SWE
ESP
JPN
FIN
CAN
POL
TUR
ITA
NOR
NLD
AUT
USA
SVK
PRT
CZE
LUX
SVN
HUN
FRA
ISL
DNK
DEU
BEL
%%
Note: Second earner at 67% of the average wage (primary earner at the average wage level), no children.
The net personal average tax rate is calculated as the increase in income tax and employee SSCs (net of
in-work benefits) paid by the family as a result of the second earner entering workforce divided by the
increase in family gross income as a result of the second earner entering in the workforce.
Source: Thomas and O’Reilly (2016).
22. 22
Recommendations for better skills for more
inclusive growth
1. Reduce grade repetition by providing earlier individualised support to
students falling behind.
2. Improve the mobility between secondary education tracks through
curriculum alignment and differentiated teaching.
3. Ease the upward mobility of vocational education students to tertiary
education programmes. Strengthen career guidance and counselling to
improve responsiveness of tertiary education to labour market needs.
4. Enhance access to lifelong learning by creating individual learning
accounts and expanding the individual study leave. Tailor lifelong learning
programmes to the needs of the low-skilled and older workers.
5. Adjust the tax and benefit system to increase incentives to work for low-
skilled youth, older workers and second earners.
24. 24
The large immigrant population has a high
employment rate
0
5
10
15
20
25
30
35
40
45
50
POL
SVK
CZE
HUN
FIN
PRT
ITA
DNK
GRC
SVN
FRA
NLD
ISL
ESP
LVA
DEU
GBR
EST
NOR
BEL
IRL
SWE
AUT
CHE
LUX
% of total
population A. Foreign-born population
1 January 2016
Non-EU28
EU28
-16
-12
-8
-4
0
4
8
NLD
SWE
DNK
BEL
FIN
FRA
AUT
DEU
NOR
TUR
CHE
LVA
SVN
SVK
ISL
ESP
GBR
POL
EST
IRL
CZE
GRC
ITA
PRT
LUX
HUN
% pointsB. Employment rate
Gap relative to native born, age 15-64, 2015
Source: Eurostat (2016), Population Statistics and Employment and Unemployment (Labour Force Survey) Statistics.
25. 25
Non-EU immigrants face higher
unemployment
Unemployment rate by country of origin, age group 15-74, per cent
0
5
10
15
20
25
0
5
10
15
20
25
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Extra-EU-28
EU-28 countries
Luxembourg
Source: Eurostat, Employment and unemployment (Labour Force Survey) database.
26. 26
The risk of poverty is high among non-EU
immigrants
Age 18-64, 2015
0
10
20
30
40
50
60
0
10
20
30
40
50
60
POL ISL CZE LVA EST PRT NLD NOR DEU GBR FIN HUN DNK FRA SVN EU28 AUT ITA SWE LUX BEL ESP GRC
Source: Eurostat (2015), "Living conditions and welfare: Income distribution and monetary poverty", Eurostat
Database, October.
27. 27
Immigrants are under-represented in public
sector jobs
Share of employment in the public services sector, aged 15- 64, 2012-2013
Source: OECD/European Union (2015).
0
10
20
30
40
50
60
0
10
20
30
40
50
60
GRC
ITA
ESP
BGR
LUX
SVN
CZE
AUT
DEU
TUR
LVA
EST
EU
OECD
CHE
IRL
ROU
SVK
HRV
ISL
HUN
LTU
FRA
BEL
FIN
MLT
PRT
POL
NLD
GBR
DNK
SWE
%%
Among foreign born Among native born
28. 28
Processing times for immigration of highly-
skilled non-EU workers is high
Time in weeks
0
2
4
6
8
10
12
14
16
18
0
2
4
6
8
10
12
14
16
18
GBR BEL DNKGRCNOR PRT AUS NLD ESP SWE FRA DEU IRL LVA CHE HUN POL SVK USA CAN EST FIN AUT CZE LUX ITA
Source: Deloitte (2016), Global Immigration Study.
29. 29
Socio-economic status has a large impact on
student performance
Impact of socio-economic background, Performance in science, PISA 2015
0
5
10
15
20
25
0
5
10
15
20
25
ISL
EST
NOR
LVA
CAN
TUR
ITA
FIN
JPN
KOR
DNK
GBR
MEX
ISR
USA
AUS
SWE
NLD
GRC
IRL
OECD
POL
ESP
SVN
NZL
PRT
CHE
DEU
AUT
SVK
CHL
CZE
BEL
FRA
LUX
HUN
Note: Percentage of variance in student performance in science explained by ESCS, which refers to the PISA index of
economic, social and cultural status.
Source: OECD (2016), PISA 2015 Results (Volume I): Excellence and Equity in Education.
30. 30
Performance of students with immigrant
background is lagging behind
Note: At the end of primary school, children are assigned to different programmes of secondary education:
academic (enseignement secondaire, ES), technical (enseignement secondaire technique, EST) and preparatory
(régime préparatoire, PREP).
Source: OECD, PISA 2015 Database.
Performance in science, score points, PISA 2015
0
100
200
300
400
500
600
Preparatory Technical Secondary
Immigrants students Non-immigrant students
31. 31
Disadvantaged schools face greater
shortages of educational resources
Index of shortage of education staff
Difference between schools in top and bottom quarters of socio-economic profile, PISA 2015
-1.2
-1.0
-0.8
-0.6
-0.4
-0.2
0.0
0.2
0.4
-1.2
-1.0
-0.8
-0.6
-0.4
-0.2
0.0
0.2
0.4
AUS
ESP
USA
TUR
MEX
SWE
NZL
ISR
CZE
DNK
CHL
NOR
LUX
HUN
SVK
NLD
CAN
GBR
PRT
OECD
CHE
DEU
ITA
IRL
BEL
GRC
JPN
SVN
FIN
POL
ISL
LVA
FRA
EST
AUT
KOR
Note: Higher values in the indices indicate a greater shortage of educational resources. The socio-economic
profile is measured by the PISA index of economic, social and cultural status.
Source: OECD (2016), PISA 2015 Results (Volume II): Resources Invested In Education.
32. 32
Recommendations for improving the
integration of immigrants
1. Improve the availability of high-quality child care and provide incentives
for fathers to share parental leave.
2. Continue to increase public supply of language courses. Diversify language
training according to workplace needs.
3. To limit long periods of inactivity, speed up decisions on asylum
applications and ease provisional labour market access for applicants with
high prospects of being allowed to stay.
4. Ease immigrants’ access to public sector jobs.
5. Make resource allocation across schools more equitable and introduce
incentives to attract more experienced teachers to disadvantaged schools.
33. 33
For more information
http://www.oecd.org/eco/surveys/economic-survey-luxembourg.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.