Over many decades, Argentina’s economy has been held back by weak policy settings and productivity has stagnated. Recent and additional reforms will help to raise prosperity for all Argentinians in the medium term. Strengthening competition by reducing barriers to market entry and foreign trade has particularly high payoffs.

India has been a growth champion in recent years and has succeeded in taming inflation, the current account deficit and non-performing loans. India's participation in the global economy has risen, with outstanding performances in some services, while the largest diaspora in the world is an asset in developing new markets. India has also lifted many millions of people out of poverty and has made access to housing for all a priority. Ambitious structural reforms -- including better targeted household support, financial inclusion initiatives, the implementation of the Goods and Services Tax, the Insolvency and Bankruptcy Code, the new approach to federalism and the corporate income tax reform -- have played a key role.

Tunisians are facing the worst crisis in a generation, as COVID-19 hit an economy that was already slowing down. Macroeconomic policy through fiscal stimulus and monetary easing limited the depth and severity of the recession, but the pandemic has exacerbated structural weaknesses, in particular low investment and job creation, high unemployment and informality, mismatch between skills demand and supply, and outward migration of high-skilled professionals.

The COVID-19 pandemic has caused severe human suffering and triggered a deep recession in Brazil. Economic policies reacted in a timely and decisive manner to the crisis, supporting millions of Brazilians. But a strong and inclusive recovery from the recession will require long-lasting improvements in economic policies. Improving fiscal outcomes remains one of Brazil’s principal challenges given a high debt burden, to which the pandemic has added significantly. Public spending will need to become more efficient, including by building on past progress in the fight against corruption and economic crimes. Social protection can be strengthened through a better focus on the most effective policies and benefits, which could allow significant reductions in inequality and poverty. Stronger growth will hinge on raising productivity, which has been virtually stagnant for decades. This requires addressing underlying policy challenges, including reducing regulatory burdens, reforming taxes, strengthening judicial efficiency and fostering a stronger integration into the global economy. Raising productivity implies reallocations and structural changes in the economy, which should be accompanied by well-designed training and education policies. Training with a strong focus on local skill demand can help workers master the transition and seize new opportunities to move into better jobs. SPECIAL FEATURES: BOOSTING PRODUCTIVITY; SKILLS POLICIES TO FACILITATE STRUCTURAL ADJUSTMENT

The Survey examines Colombia’s economic recovery from the COVID-19 crisis as well as the challenges to ensuring stronger and more sustainable growth. It takes an in-depth look at the social protection system, and discusses reforms that could improve the sustainability of public finances, boost productivity growth and improve opportunities for all Colombians.

Costa Rica’s social and economic progress has been remarkable. Over the last 30 years, growth has been steady and GDP per capita has tripled. A strong commitment towards trade openness has been key to attract foreign direct investment and move Costa Rica up in the global value chain. Costa Rica faces substantial challenges to retain achieved successes and to continue converging towards higher living standards. The fiscal situation remains a critical vulnerability.

Greece’s economy had been expanding by nearly 2% for over three years before the COVID-19 shock. Structural reforms, high primary budget surpluses and debt measures underpinned Greece’s recovery and rising confidence. Then the COVID-19 pandemic struck, abruptly interrupting the recovery and adding new challenges to raising inclusiveness, competitiveness and growth.

This is the fifth edition of Tax Policy Reforms: OECD and Selected Partner Economies, an annual publication that provides comparative information on tax reforms across countries and tracks tax policy developments over time. The report covers the latest tax policy reforms in all OECD countries, as well as in Argentina, China, Indonesia and South Africa.

The report is the result of a policy dialogue with more than 200 stakeholders at different levels in Argentina. It assesses water governance in Argentina, identifies several key challenges to effective, efficient and inclusive water policies, and provides a set of policy recommendations to enhance water governance as a means to address relevant societal challenges, both within the scope of water management and beyond.

This book advances the debate on socio-economic development and multinational corporations (MNCs). It provides an actor-centered perspective and develops the framework called ‘Conflating Capitalisms’ that allows for a better understanding of both MNC-induced institutional change in the host country and the subsequent impact on local development. The book uses the empirical case of Western MNCs in Latin America. It applies a sequential mixed-method design, including a large-scale elite survey on corporate behavior and in-depth, semi-structured interviews with local decision-makers on the institutionalization of German dual vocational training (DVT) in Brazil. The book presents strong evidence for both behavioral contradiction in the host country - with MNCs showing alien-to-the-system behavior - and subsequent actor-induced institutional change, with varied developmental impact. Additionally, the book offers novel insights into MNCs’ handling of missing complementary institutions and the institutionalization process of coordinated practices in Latin America. This book appeals to scholars, students, and practitioners who are interested in advancing the field of development and MNCs.