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©Faber |
A jolt of innovation can be a powerful antidote to recession. But innovation risks being hit hard by the economic crisis as the capital to finance research and develop new products grows scarce. The economic fallout could be serious, since innovation is a key driver of growth.
2010 started with the devastating earthquake in Haiti that killed well over 100,000 people and nearly destroyed a country. We stand in solidarity and sympathy with the people of Haiti, whose tragedy brought back memories of the tsunami just before New Year 2004. Nothing can replace the loved ones lost.
If there is a positive side, it is in the massive coming together of people and countries from around the world to help Haiti face the emergency and start rebuilding this poor yet vibrant country. Such co-operation embodies the spirit of the OECD, which is playing its part to help Haiti back on its feet by monitoring emergency aid flows and lending support to ensure adequate planning, coherent policies and effective public investments.
| GDP | +0.8% Q3/Q2 2009 |
| Leading indicators | +1.0 Nov 09, +8.2 year on year |
| Inflation | +1.3% Nov 09, annual |
| Trade (G7) | -17.5% exports Q3 09, imports -14.6%, y/y |
| Unemployment | 8.8% Nov 2009, up 2.1 percentage pts y/y |
Data for OECD area . Latest update: 29 January 2010
For details on these and other numbers, visit www.oecd.org/statistics
The wave of natural disasters that swept the Pacific and Indian Ocean regions in recent weeks has left a heavy human and economic toll. Thousands have perished, lives and communities have been shattered. Could some of this have been avoided, or the toll reduced? We have been here before, notably following the tsunami that struck southern Asia and the east coast of Africa in 2004. The latest tsunamis, typhoons and earthquakes are tragic reminders of how vulnerable some human settlements are, and underline the importance of integrating disaster risk into development practices.
Has the crisis driven up public interest in policies?
On 7 September 2009, a report from the United Nations conference on Trade and Development (UNCTAD) blamed the "dominance of the dollar" for playing an important role in the recent build-up of global imbalances, particularly in trade and the current account, which helped lead to today's global economic crisis.
You say that "in the UK, the Home Office estimates that ID fraud costs £1.7 billion (US$330 billion) to the UK economy, nearly 50% up on 2002." ("Online identity theft", in No 268, June 2008) If everyone is given a "place" on the net where people can be contacted, that also creates an opportunity for people to protect themselves. But this "place" must be made safe, and therefore must be seen by governments as part of their country's normal infrastructure. Integrity is the key word.
An "education lighthouse for the way out of the crisis" was recently launched in the form of a new OECD web community dedicated to guiding education through the economic crisis. To date, the educationtoday collaborative website features nearly 200 content items from OECD experts and external analysts and is available to anyone who registers via myOECD at www.oecd.org.
What do you think will be the biggest policy challenge in 2010?
- Transfer pricing: A challenge for developing count...
- Ireland’s economic outlook
- Free zones: Benefits and costs
- Tax for development
- Towards a new reserve currency system?
- Climate change: the biggest threat to economic rec...
- Jobs crisis
- Financing SMEs
- African tax administration: A new era
- Lighting the way forward for education




