Since 2006, Sweden has delivered 1% of its gross national income (GNI) as official development assistance (ODA). In 2017, Sweden was the highest contributor in percentage terms among OECD Development Assistance Committee (DAC) countries, outstripping the UN recommended goal of 0.7% of GNI.

“Every crowd has a silver lining,” said P.T. Barnum, America’s “greatest showman”. For businesses, Barnum’s play on words is especially true: crowds are becoming something of a motherlode of funding for small and medium-sized enterprises (SMEs). With bank lending declining, smaller businesses are looking for alternative ways of financing. Thanks to the world wide web, they can now solicit funds not just from banks and professional investors, but from virtually anyone with internet access. This approach can take different forms. Besides crowdfunding (where many individual contributions–usually sourced online–make up the funding), examples include online invoice financing (where SMEs, for instance, can borrow online against unpaid invoices) and peer-to-peer lending activities (online services that match lenders with SME borrowers). Together, these funding opportunities constitute the online alternative finance market. Read the full article here.

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Mental health problems affect about 84 million people in the EU, according to the latest estimates from the Institute for Health Metrics and Evaluation. That’s more than one in six people facing problems that range from anxiety to depression to drug and alcohol addiction, as well as severe mental illnesses like bipolar or schizophrenic disorders.

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“Money makes the world go round.” So goes the line in the musical, Cabaret. But probably not even lyricist Fred Ebb, who wrote those famous words, knew how true it is that we need money to achieve the United Nations’ Sustainable Development Goals (SDGs) to keep the world, or rather, the planet, going round and round. 

©Frédéric Soreau/Photononstop

One of the most popular Netflix series in Brazil right now is The Mechanism. Loosely based on real events, the show is about an ongoing investigation of a corruption scheme involving high-ranking Brazilian politicians and companies. No wonder it’s so successful: 79% of the population in Latin American and Caribbean countries think their government is corrupt.

The deep recession of 2007-08 hit young people hard, but it hit foreign-born youth even harder. While 13.9% native-born 15 to 29-year-olds in OECD countries were neither employed nor in education or training (NEET) in 2015, the rate for foreign-born in that demographic was 21.5%. 

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More women are going into postsecondary education than men: women’s enrolment rates are 11 percentage points higher on average than that of men. 

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Job automation is widely seen as one of the biggest challenges of the digital revolution, and a source of uncertainty and insecurity for many workers today. The automation of routine tasks has already lowered the share of middle-skill jobs, and polarised low- and high-income jobs, which is associated with rising inequality. In some cases, digitalisation has reduced the demand for low-skilled as well as middle-skilled workers, while increasing demand for a high-skilled workforce, which cannot always be met by the existing supply. The risk is higher wages for some, but unemployment for others.

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Fossil fuel subsidies keep fuel prices artificially low, and weigh heavily on government budgets and on the climate too. Phasing out these subsidies will help reduce CO2 emissions and possibly raise public revenues as well.

Anyone looking for proof that international agreements work should look at the OECD Anti-bribery Convention. One reason is investment. In fact, countries that adhere to the convention (currently 43) invest more abroad than those that have not joined. 

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Higher investment in human development in Africa is paying off. One reflection of this is the share of both girls and boys completing their secondary education,which has increased between 2005 and 2014.

Do you want to know how your country compares with neighbours and competitors on income levels or employment?

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Cancer represents an increasing budgetary pressure on healthcare systems. In OECD countries, total pharmaceutical spending accounts for one-fifth of healthcare spending on average, but while overall spending for medicines did not increase (and even decreased) since 2008-09, the share of high cost “specialty medicines”, to treat cancer patients, for instance, has increased sharply, as it represented 37.7% of total prescription drug spending in the US in 2015. 

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Seneca, a Roman philosopher, argued that quality mattered more than quantity. It is a dictum that may apply to scientific production, according to recent data for citations. The total amount of scientific publications per year in China, Germany, Japan, the UK and the US doubled from 765,000 in 2003 to almost 1.5 million in 2012, thanks to increased investment in public research. The US leads in quantity terms, with China catching up. 

Employment rates have been rising in several OECD countries, but productivity has not kept up. Indeed, a slowdown of productivity growth in the past years continued to undermine rises in economic output and living standards. Labour productivity among the G7 countries was highest in the US where the level of GDP per hour worked was US$68.3 in 2015, followed by France and Germany, while Canada and Japan had levels below the OECD average of $51.1.

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Migration is an ongoing natural phenomenon, with approximately 4.8 million new permanent entries to OECD countries in 2015, representing a 10% increase compared to the previous year. Despite the economic dynamism of certain developing countries, migration is still concentrated in high income destinations, while shocks, uncertainty and vulnerability are often the cause of emigration. Moreover, workers with lower skills are particularly attracted to countries with stronger social safety nets. Could this movement be countered by improving social protection in the home countries? 

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More women go to work today than 40 years ago, but their pay has not kept pace with men’s. Some 58% of women on average in the OECD area worked in 2008, up from 45% in 1970, ranging from 70% of women in the Nordic countries to less than 50% in Greece, Italy, Mexico and Turkey. Indeed, with fewer women staying at home, dual-earner families are now commonplace in most OECD countries; only in Japan, Mexico and Turkey are single-income families more common. However, men are often still the main earners in dual-earner families because so many women work part-time and for lower wages than their husbands. In the Netherlands, a relatively egalitarian country, 60% of women work part time, compared with 16% of men.

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Unequal pay between men and women continues to pose problems, despite decades of legislation by governments to address it, like the Equal Pay Act in the United States and the French labour code on wage equality introduced about half a century ago. In fact, not only are women still paid considerably less than men throughout the world, but UN predictions suggest the gap will persist for 70 years to come.  

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Everyone needs to be sufficiently financially literate to take informed decisions for themselves and their families as to their savings, investments, pensions and more. But in many countries, women have lower financial knowledge than men, and are less confident in their financial knowledge and skills.

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Every year about 1.2 million people die in crashes on the world’s roads and many millions are seriously injured. This heavy toll comes despite decades of efforts to improve traffic safety. 

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The diffusion of internet-based cloud computing among private companies has picked up over recent years, with higher uptake within large firms compared to small businesses. 

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Income inequality between China’s rural and urban areas has surged in recent years. The per capita income of urban households in 2012 was about three times that of the rural households, whereas in 1978 it was about two and half times higher.

Publishing, telecommunications, the audiovisual industry and broadcasting taken together are an important source of value-added growth in OECD countries despite accounting for less than 4% of total OECD employment. This “information sector” covers a wide range of activities, from computer and optical manufacturing to communications services. 

Did you know that there is a correlation between diabetes and education levels? People with the lowest level of education are more than twice as likely to report having diabetes than those with the highest level across EU countries, a close look at Eurostat data shows (see chart).

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Real GDP growth slowed in most of the emerging economies in Asia in 2014 and remained subdued in 2015, the Economic Outlook for Southeast Asia, China and India 2016 says. In fact, most countries in the region recorded slower growth in 2015 than in 2014–the exceptions being Brunei Darussalam, Thailand, Viet Nam and India. China and the ASEAN region recorded their slowest growth since the start of the global financial crisis. 

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Korean trade with Africa has more than quadrupled since the late 1990s.

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If there is one area where Korea has jostled to the front of the OECD field in 20 years, it is in education. Take school performance: according to the OECD’s Programme for International Student Assessment (PISA), a renowned global benchmark which surveys competence among 15-year-olds around the world, Korea’s young students perform better at school than most of their peers in other OECD countries. In the last test in 2012, Korea led the OECD field in mathematics, was second to Japan for reading (our chart), and was in the top seven for science. Some 64 countries and economies with comparable data took the tests. In the 2009 tests Korea had also commanded a top spot. 

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Traditionally, men have tended to be more educated than women in Korea, especially when it comes to higher education. Only 34% of doctoral graduates or equivalent graduates are women, which is among the lowest shares across G7 and OECD countries. However, women in Korea have made great strides in educational attainment over the past decade. 

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As agriculture has proven itself able to respond to shifts in demand in the past, it could be argued that food security is less an issue of food supply and more one of affordable access.

Economic data

GDP growth: +0.6% Q1 2019 year-on-year
Consumer price inflation: 2.3% May 2019 annual
Trade: +0.4% exp, -1.2% imp, Q1 2019
Unemployment: 5.2% July 2019
Last update: 8 July 2019

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  • The following communiqué and Chair’s statement were issued at the close of the OECD Council Meeting at Ministerial level, this year presided by the Slovak Republic.
  • Food production will suffer some of the most immediate and brutal effects of climate change, with some regions of the world suffering far more than others. Only through unhindered global trade can we ensure that high-quality, nutritious food reaches those who need it most, Angel Gurría, Secretary-General of the OECD, and José Graziano da Silva, Director-General of the United Nations Food and Agriculture Organization, write in their latest Project Syndicate article. Read the article here.
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  • OECD Secretary-General Angel Gurría with UN Secretary-General António Guterres at the 73rd Session of the UN General Assembly, in New York City.
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  • Listen to the "Robots are coming for our jobs" episode of The Guardian's "Chips with Everything podcast", in which The Guardian’s economics editor, Larry Elliott, and Jeremy Wyatt, a professor of robotics and artificial intelligence at the University of Birmingham, and Jordan Erica Webber, freelance journalist, discuss the findings of the new OECD report "Automation, skills use and training". Listen here.
  • Do we really know the difference between right and wrong? Alison Taylor of BSR and Susan Hawley of Corruption Watch tell us why it matters to play by the rules. Watch the recording of our Facebook live interview here.
  • Has public decision-making been hijacked by a privileged few? Watch the recording of our Facebook live interview with Stav Shaffir, MK (Zionist Union) Chair of the Knesset Committee on Transparency here.
  • Can a nudge help us make more ethical decisions? Watch the recording of our Facebook live interview with Saugatto Datta, managing director at ideas42 here.
  • The fight against tax evasion is gaining further momentum as Barbados, Côte d’Ivoire, Jamaica, Malaysia, Panama and Tunisia signed the BEPS Multilateral Convention on 24 January, bringing the total number of signatories to 78. The Convention strengthens existing tax treaties and reduces opportunities for tax avoidance by multinational enterprises.
  • Globalisation’s many benefits have been unequally shared, and public policy has struggled to keep up with a rapidly-shifting world. The OECD is working alongside governments and international organisations to help improve and harness the gains while tackling the root causes of inequality, and ensuring a level playing field globally. Please watch.
  • Checking out the job situation with the OECD scoreboard of labour market performances: do you want to know how your country compares with neighbours and competitors on income levels or employment?
  • Trade is an important point of focus in today’s international economy. This video presents facts and statistics from OECD’s most recent publications on this topic.
  • The OECD Gender Initiative examines existing barriers to gender equality in education, employment, and entrepreneurship. The gender portal monitors the progress made by governments to promote gender equality in both OECD and non-OECD countries and provides good practices based on analytical tools and reliable data.
  • Interested in a career in Paris at the OECD? The OECD is a major international organisation, with a mission to build better policies for better lives. With our hub based in one of the world's global cities and offices across continents, find out more at www.oecd.org/careers .
  • Visit the OECD Gender Data Portal. Selected indicators shedding light on gender inequalities in education, employment and entrepreneurship.

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