OECD economic surveys : United Kingdom 1997-1998 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: United Kingdom

Language:

English

Subjects (All):

Great Britain--Surveys.

Great Britain.

Great Britain--Economic policy.

Physical Description:

1 online resource (201 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1998]

Language Note:

English

Summary:

Assessment and recommendations I. Recent trends and prospects -Overview -Domestic demand has slowed little so far... -... while external demand begins to falter -The labour market tightens sharply -Mounting inflationary pressures -The short-term outlook II. Macroeconomic policies -Monetary policy -Fiscal policy III. Implementing structural reform: a review of progress -Raising potential growth - a broad agenda -National Health Service -Tax policy - lowering obstacles to growth -Reform of the financial regulatory regime -Assessment IV. Towards a better integration of work and welfare -Workforce developments -Inequality and poverty -Employability policies -Introduction of a minimum wage -Assessment V. Corporate governance -A big share market -... with a significant increase in institutional investment -... accompanied by a considerable decline in personal equity holdings -Corporate monitoring -Board structure -Board committees -Boardroom pay -Mergers and acquisitions -Current issues Glossary of acronyms Bibliography Annexes -I. Summary of the major recommendations of various committees and institutions concerning corporate governance -II. Calendar of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent trends and prospects

Overview

Figure 1. MACROECONOMIC PERFORMANCE

Domestic demand has slowed little so far...

Table 1. Demand and output

Figure 2. INVESTMENT AND CAPACITY UTILISATION

... while external demand begins to falter

Figure 3. BALANCE OF PAYMENTS AND COMPETITIVENESS

Table 2. The current account

The labour market tightens sharply

Table 3. Labour supply and demand

Mounting inflationary pressures

Table 4. Wages and prices

Figure 4. UNDERLYING INFLATION RATE

The short-term outlook

Table 5. Short-term projections

II. Macroeconomic policies

Box 1. To be or not to be in monetary union

Table 6. GDP growth correlation with monetary union candidates

Figure 5. TRADE OPENNESS AND DIVERSIFICATION

Monetary policy

The new monetary policy framework

Table 7. Independence, transparency and accountability of central banks

The evolution of monetary policy indicators

Figure 6. INTEREST RATE DEVELOPMENTS

Figure 7. INFLATION EXPECTATIONS

Figure 8. MONETARY CONDITIONS

Is a further monetary policy tightening needed?

Table 8. Real interest rates in the G7 countries

Fiscal policy

Budgetary developments since 1996

Table 9. Budget and outturns

Box 2. The new fiscal policy framework

Medium-term issues

Table 10. Fiscal indicators

Figure 9. THE GOVERNMENT'S FISCAL MEDIUM-TERM PROJECTIONS

Figure 10. SOCIAL SPENDING TRENDS

III. Implementing structural reform: a review of progress

Figure 11. UNITED KINGDOM GDP PER CAPITA VIS-A-VIS OTHER OECD COUNTRIES

Table 11. Relative labour productivity levels in manufacturing

Raising potential growth _ a broad agenda

Product market competition

Regulatory reform

Figure 12. TELEPHONE CHARGES IN COMPETITIVE AND NON-COMPETITIVE MARKETS.

National Health Service

Tax policy _ lowering obstacles to growth

Reform of the financial regulatory regime

Assessment

IV. Towards a better integration of work and welfare

Table 12. Implementing the OECD Jobs Strategy: an overview

Table 12. Implementing the OECD Jobs Strategy: an overview (cont.)

Figure 13. HOUSEHOLD INCOME DISTRIBUTION

Workforce developments

Active in the workforce

Figure 14. EMPLOYMENT RATE IN OECD COUNTRIES

Figure 15. LONG AND SHORT-TERM UNEMPLOYMENT RATES

Non-attached to the workforce

Figure 16. STRUCTURE OF THE LABOUR FORCE AND NON-ACTIVE

Inequality and poverty

Figure 17. COMPOSITION OF THE POOREST HOUSEHOLD INCOME DECILE

Table 13. Households on supplementary income support

Table 14. Relative earnings by qualification attainment

Employability policies

Active labour market policies

Box 3. The Welfare to Work Programme

Figure 18. SPENDING ON ALMP IN OECD ECONOMIES

Table 15. Employment and training initiatives for unemployed people

Table 15. Employment and training initiatives for unemployed people (cont.)

Deprived communities

Figure 19. PROFILE OF DISADVANTAGED AREAS

Figure 20. CRIME RATES IN MERSEYSIDE BY DEPRIVATION LEVEL

Adapting to change: investing in human capital

Table 16. Employment and unemployment rates by educational attainment

Table 17. Participation in adult education programmes

Lowering barriers to employment

Table 18. Barriers to work

Transitional barriers

Making work pay

Reform of the tax and benefit system

Figure 21. SOCIAL OUTLAYS BY FUNCTION

Incentives to Work

Table 19. Gross and net unemployment replacement rates

Table 20. Replacement rates based on social assistance

Does targeting welfare spending sharpen work incentives?.

Table 21. Incidence of marginal effective tax rates

Figure 22. NON-EMPLOYMENT RATES FOR INDIVIDUALS AND HOUSEHOLDS

In-work benefits

Introduction of a minimum wage

Coverage

Table 22. National and regional coverage of minimum wage rates

Figure 23. MINIMUM WAGE COVERAGE BY WORKFORCE CHARACTERISTICS

Employment effects

Box 4. Minimum wage employment effects: empirical evidence for the United States, France and the United Kingdom

Table 23. Gross and net minimum wage rates

Is it an anti-poverty measure?

Other considerations

V. Corporate governance

A big share market...

Table 24. Listed companies and market capitalisation

... with a significant increase in institutional investment...

Table 25. Institutional investor's financial assets

... accompanied by a considerable decline in personal equity holdings

Table 26. Share register analysis

Corporate monitoring

Annual General Meetings

Shareholder resolutions

Table 27. Analysis of shareholder meeting resolutions

Informal sources of control

Table 28. Sources of influence on the appointment of non-executive directors

Board structure

Table 29. Board size and composition

Board committees

Table 30. Board committee activity

Boardroom pay

Mergers and acquisitions

Current issues

Figure 24. INVESTMENT PERFORMANCE

Notes

Glossary of acronyms

Bibliography

Annex I - Summary of the major recommendations of various committees and institutions concerning corporate governance

Table A1. UK institutional investors

Table A2. Institutional investors' share of stock markets

Annex II - Calendar of main economic events

STATISTICAL ANNEX AND STRUCTURAL INDICATORS

Table A. Selected background statistics

Table B Supply and use of resources

Table C. Household appropriation account.

Table D. General government appropriation account

Table E. Wages, prices and finance

Table F. Balance of payments

Table G. Foreign assets and liabilities

Table H. Foreign trade by area

Table I. Labour market indicators

Table J. Production structure

Table K. Public finance

BASIC STATISTICS: INTERNATIONAL COMPARISONS

BASIC STATISTICS: INTERNATIONAL COMPARISONS (cont'd)

BOXES

TABLES

Table 18. Barriers to work.

Table 19. Gross and net unemployment replacement rates

Table 21. Incidence of marginal effective tax rates

FIGURES

Figure 12. TELEPHONE CHARGES IN COMPETITIVE AND NON-COMPETITIVE MARKETS

Figure 24. INVESTMENT PERFORMANCE.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-15145-1

OCLC:

1225553491