Six years have passed since the beginning of the global financial crisis, yet a large number of countries are still playing catch-up. The impact of the crisis, however, was not only national. Many regions are also struggling to return to the levels of prosperity that they enjoyed before the crisis. Going beyond national measures, an in-depth analysis of OECD regions reveals massive disparities within countries, with some regions faring much worse than others. OECD countries have always had some level of spatial inequality, but these disparities increased significantly since the onset of the crisis, and reducing them is now more than ever an imperative.
In order to address this challenge, the OECD established a framework to measure well-being at the local level. How’s Life in Your Region? presents an innovative set of tools to help policy makers benchmark the performance of their region in terms of the key indicators that define well-being for citizens. The ability to benchmark the performance of their region against other similar places should help them better target their policies and investments in order to have stronger impact on people’s daily lives.
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Originally published on OECD Insights on 12 November 2014.