Placeholder text

Go to cart

OECD Economic Surveys

By Oecd

OECD Economic Surveys

By Oecd

0 - Default Title
Description
GDP growth in Korea has recovered, supported by strong exports. Employment remains stable at a high level, while unemployment is low. Interest rates have likely peaked and housing prices have stabilised, all of which should support consumption going forward. Household debt remains high, and construction-related project finance has become a financial stability concern. Reforms to ensure fair competition in the domestic market would increase productivity in the SME sector. Reducing greenhouse gas emissions in line with the 2030 target requires tightening the emissions trading scheme and reforming energy markets to incentivise clean electricity supply and energy savings. The Korean fertility rate has fallen to the lowest in the world, which will put labour supply and public finances under pressure. A large career cost for women who become mothers holds back female employment and fertility, and underpins the widest gender pay gap in the OECD. Improving the work-life balance for both genders, closing remaining gaps in family policies, addressing high housing and education costs, and tackling labour market dualism are key to reverse the trend. Such reforms, combined with increasing the legal retirement age, reducing the high significance of seniority in determining wages, and a more welcoming regime for work immigration, would also boost labour supply and tax revenue.
Product details
Binding:
Paperback
Number of Pages:
138
Release Date:
2024-12-19
Publication Date:
2024-12-19
Publisher:
OECD
Languages:
Original: English
ISBN10:
9264751874
ISBN13:
9789264751873
GPSR Manufacturer Reference:
[email protected]
Weight:
357 g
Height:
210 cm
Width:
280 cm
Thickness:
8 cm
Buy on Amazon
Currently sold out