Latvia’s economy has grown robustly in recent years on the back of a strong track record in implementing structural reforms, despite a challenging international environment. Rising wages have supported household consumption.

Russia’s war of aggression against Ukraine has led to higher energy prices and disruptions in trade and supply chains, weighing on economic growth. Economic convergence had already slowed down before the pandemic, calling for accelerating structural reforms. Rising spending pressures related to defence, internal security, health and old age poverty need to be addressed by raising spending efficiency and tax revenue, while the tax burden should be shifted from labour towards other income, property, and environmental taxes. Continuing to improve the capacity of the public sector, fostering investment and innovation and addressing skilled labour shortages are key for raising potential growth. Low credit supply is a main factor for weak investment and should be tackled by fostering competition and deepening capital markets. High informality, which hinders access to finance and distorts the level playing field, should be addressed by reducing labour taxes for low-wage earners, improving tax enforcement and continuing to fight corruption. Strengthening the power of the Competition Council to enforce competitive neutrality of state-owned enterprises and challenge regulation that restricts competition would help to foster business dynamism and innovation. Addressing skilled labour shortages will require facilitating skilled migration and investing more in human capital. SPECIAL FEATURE: RAISING INVESTMENT TO SUPPORT GROWTH

Latvia enjoys strong economic growth and the catch up with living standards in higher income OECD countries continues. Much remains to be done, though, to close the remaining gap and improve equal access to social protection and economic opportunities. Latvia faces one of the fastest declines in its working age population among OECD countries due to ageing and migration. Strong productivity growth is needed to counter this demographic challenge and improve living standards faster.

OECD’s periodic surveys of the Latvian economy. Each edition surveys the major challenges faced by the country, evaluates the short-term outlook, and makes specific policy recommendations. Special chapters take a more detailed look at specific challenges. Extensive statistical information is included in charts and graphs.

Latvia, a member of the European Union since 2004, is a small, dynamic and open economy that has successfully transitioned from central planning to a market economy. The reforms undertaken have driven progress, although from generally low levels and at a slower pace in agriculture than for the ...

Taking the students’ perspective, Education Policy Outlook 2018: Putting Student Learning at the Centre analyses the evolution of key education priorities and key education policies in 43 education systems. It compares more recent developments in education policy ecosystems (mainly between 2015 ...

The Estonian economy displays numerous strengths, including an excellent business environment, high educational attainment, and solid public finances. However, around a quarter of the population is still at risk of poverty and productivity growth has slowed down.

This report OECD Skills Strategy Latvia: Assessment and Recommendations identifies opportunities and makes recommendations to strengthen the skills outcomes of students, foster a culture of lifelong learning, reduce skills imbalances in the labour market, and strengthen the governance of the skills system.

This OECD Economic Survey of Latvia examines recent economic developments, policies and prospects. Special chapters cover improving public sector efficiency and raising productivity.

The world of business is constantly evolving and management education institutions will likely face a number of challenges in keeping up with these changes. While most books focus on the needs of management education institutions, this work addresses the needs of the corporate world in the era of the Fourth Industrial Revolution. Featuring an extensive research study spanning 11 countries, it offers a unique perspective on the business challenges and developmental needs of companies in emerging and recently emerged economies, and on the missing links between those needs and management education. Using both company-specific and country-level data, the book provides businesses and educators with rare insights and recommendations on strengthening existing partnerships (or establishing them anew) between management education institutions and the corporate sector in order to make management education relevant for the 21st century. The book argues that ‘relevance’ should take the center-stage of all higher education institutions in order to accomplish their third mission, namely service to society. This is especially important for management education institutions, whose mission is to mold future managers and leaders who can have a significant influence on economic success and the wellbeing of society.