Climate change will indeed create new challenges in financial markets, while Fintech developments bring about many economic opportunities and deepen financial systems, but present a variety of novel risks requiring rapid policy responses. Fostering Competition in Singapore This page provides access to reports on Singapore that assess regulatory constraints on competition in the logistics sector to identify regulations that hinder the efficient functioning of markets and create an unlevel playing field for business.
Recovering from the COVID pandemic will require countries to co-ordinate interventions to help recent graduates find jobs, reactivate the skills of displaced workers and use skills effectively in workplaces.
Megatrends such as globalisation, climate change, technological progress and demographic change will continue to reshape work and society. Countries should take action now to develop and use more effectively the skills required for the world of the future and at the same time make their skills systems more resilient and adaptable in the context of change and uncertainty.
The OECD Skills Strategy provides countries with a strategic approach to assess their skills challenges and opportunities. The foundation of this approach is the OECD Skills Strategy framework allowing countries to explore how they can improve i developing relevant skills, ii using skills effectively, and iii strengthening the governance of the skills system.
This report lays the foundation for a more fully elaborated Skills Strategy for Southeast Asia. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region.
However, educational quality is more nuanced and uneven. They score even lower relative to students from urban China and Singapore, which rank first and second, respectively. OECD research found that Malaysia also suffers a shortage of university graduates with the technical training required to fill medium- and high-skilled occupations. This situation seriously hinders productivity growth, making it tougher for Malaysia to climb the value chain. Malaysia boasts one of the best-educated populations in emerging Asia.
In the first half of , private consumption grew by 7. Going forward, however, growing middle class and household incomes will depend on the service sector.
Malaysia needs to make labor productivity and growth in consumption mutually reinforcing. To boost labor productivity, it needs to improve both the quality of workers and their market mobility. A more productive labor force will translate into higher household incomes, which will further stimulate private consumption. This report examines the governance frameworks for countering illegal wildlife trade in Indonesia, Singapore, Thailand and Viet Nam.
After assessing the effectiveness of several responses to wildlife crime in these countries, the report provides recommendations for strengthening the capacities of the institutions involved and improving strategies to counter illegal wildlife trade. Its objective is to enhance the capacity of policy makers to identify policy areas for future reform, as well as implement reforms in accordance with international good practices.
Based on this analysis the report provides a menu of concrete policy options for the region and for the individual countries. Water Governance in Cities - City Profiles Compare how cities across the world are shaping up to the challenges of water governance.
That being said, I feel on more familiar ground today since I'm going to write something negative about the antics of the Paris-based bureaucracy. Much of the data is useful and interesting, but some of the analysis is utterly bizarre and preposterous, starting with the completely unsubstantiated assertion that there's a need for more tax revenue in the region. In the Philippines and Indonesia, the governments are endeavoring to strengthen their tax revenues and have established tax-to-GDP targets.
Needless to say, there's not even an iota of evidence in the report to justify the assertion that there's a need for more tax revenue. Not a shred of data to suggest that higher taxes would lead to more economic development or more public goods. The OECD simply makes a claim and offers no backup or support. But here's the most amazing part. This is a jaw-dropping assertion in part because most of the world's rich nations became prosperous back in the s and early s when government spending consumed only about 10 percent of economic output.
And not only were taxes a concomitantly minor burden during that period, but many nations didn't have any income taxes at all. At this point, you may be thinking the OECD bureaucrats are merely guilty of not knowing history. But there's something else in the study that makes this benign interpretation implausible. The study explicitly notes that Singapore is a super-prosperous developed nation with a very low tax burden - way below the supposed minimum requirement identified by the OECD.
The low tax-to-GDP ratio is explained by lower income tax rates particularly on corporate income and VAT rates, compared to other Asian countries.
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