OECD Economic Surveys: Netherlands 2016 (eBook)

Oecd (Autor)

eBook Download: PDF

2016 | 1. Auflage
120 Seiten
OECD Publishing (Verlag)
978-92-64-25196-0 (ISBN)

Infos

This 2016 OECD Economic Survey of the Netherlands examines recent economic developments, policies and prospects. The special chapters cover: Enhancing private investment and Boosting skills for all.

Inhalt

Table of contents 5
Basic statistics of the Netherlands, 2014 9
Glossary 10
Executive summary 11
Sustaining the recovery 12
Real GDP per capita 12
Enhancing private investment 12
Total investment 12
Boosting skills for all 12
Literacy score-point by socio-demographic groups 12
Main Findings and Key Recommendations 13
Assessment and recommendations 15
Sustaining the recovery 16
Key challenges for sustainable and inclusive growth 16
Figure 1. Growth has picked up 16
Figure 2. Social indicators are relatively good overall 17
Figure 3. Labour productivity is flat 18
The economic outlook is positive 18
Figure 4. Confidence and the housing market have recovered 19
Figure 5. Trade surplus is sizeable and rising 19
Figure 6. Net saving position of sectors has been rising or remained high 20
Figure 7. Labour market is recovering 20
Table 1. Macroeconomic indicators and projections 21
Box 1. Assessing potential macro-financial vulnerabilities 23
Figure 8. Potential macro-financial vulnerabilities are low and have diminished significantly since 2007 23
Figure 9. Vulnerability indicators and economic growth 24
Box 2. Possible shocks to the Dutch economy 24
Maintaining healthy public finances 25
Ensuring long-term sustainability and greater efficiency 25
Figure 10. Sizeable fiscal consolidation and the economic recovery have improved public finances 25
Box 3. Recent refugee surge and its economic impacts 26
Figure 11. Asylum requests surged in 2015 26
Securing debt sustainability 28
Figure 12. Simulations point to further reduction in public debt 29
Figure 13. Self-employment is affecting employment and incomes 30
Figure 14. Tax and benefit system favours self-employed over employees, raising self-employment 30
Key fiscal policy recommendations 31
Enhancing private investment 31
Figure 15. Investment developments have been uneven 32
Figure 16. Gap between non-residential investment needs and actual investment is substantial 32
Promoting private rental investment 32
Providing the right incentives for business investment 33
Figure 17. Support for business R& D is skewed towards tax incentives
Expanding financing for SMEs 35
Figure 18. Bank lending constraints for small and medium-sized enterprises (SMEs) remain high 36
Figure 19. Small bank loans are relatively expensive 37
Key policy recommendations to enhance private investment 37
Boosting skills for all 38
Figure 20. Literacy skills of immigrants, less educated and the old lag behind other groups and peers 38
Figure 21. Changing demand for skills has led to a polarisation in job tasks 39
Figure 22. Large gap exists between skill use and proficiency in the Netherlands 40
Developing skills at school 40
Using skills more effectively at work 42
Figure 23. Temporary employment is common in the Netherlands 42
Figure 24. Few temporary workers move to permanent full-time jobs 43
Acquiring skills through work 44
Figure 25. Informal on-the-job learning is dominant after the age of 25 45
Figure 26. Skills of young NEETs are responsive to training 45
Figure 27. Natives have stronger information-processing skills than foreign-born adults 47
Figure 28. Gap between native and second-generation immigrant students is important 48
Figure 29. Employment and participation rates of foreign-born are relatively low 49
Key policy recommendations to boost skills for all 49
Bibliography 50
Annex. Progress in main structural reforms 53
Thematic chapters 57
Chapter 1. Enhancing private investment 59
The slump in residential investment is accompanied by long-term challenges for business investment 60
Investment has been recovering, but remains weak 60
Figure 1.1. Investment had already been weakening before it was hit by the crisis 60
Figure 1.2. Plunge in new construction was not caused by overinvestment 62
Figure 1.3. Lower capital-per-worker growth weighed on trend productivity 63
Bolstering private investment to support the housing market and boost growth potential 63
Figure 1.4. Gap between non-residential investment needs and actual investment is substantial 64
Figure 1.5. Lower investment by business services has driven the decline in investment intensity 65
Figure 1.6. Investment in ICT equipment has grown fast, but investment in intangibles has stalled 65
Promoting private rental investment 66
Figure 1.7. Household spending on housing has increased, but remains moderate 67
Bolstering investment in the private rental market 66
Safeguarding sustainable residential investment to maintain an adequate housing stock 68
Providing the right incentives for business investment 69
Promoting investment in innovation and R& D
Figure 1.8. Support for business R& D is skewed towards tax incentives
Supporting investments of start-ups and SMEs with growth ambitions 71
Figure 1.9. SMEs and large firms each account for half of business investment 72
Stepping up investment in clean energy and green growth 73
Figure 1.10. Meeting the target for renewable energy is at risk 73
Further strengthening framework conditions for business investment 74
Figure 1.11. Infrastructure budget has been almost fully allocated until 2028 75
Expanding financing for SMEs 76
Figure 1.12. Corporate profitability has fallen and growth in corporate savings has stopped 76
Improving access to bank financing 77
Figure 1.13. Bank lending is still bottoming out 77
Figure 1.14. Bank lending constraints for small and medium-sized enterprises (SMEs) remain high 78
Box 1.1. A wide range of public support programmes help companies obtain financing 79
Figure 1.15. Public programs supported SMEs’ access to credit during the crisis and beyond 79
Figure 1.16. Small bank loans are relatively expensive 80
Encouraging market-based financing for SMEs 81
Table 1.1. A wide range of market-based financing complements bank lending for SMEs 81
Recommendations to enhance private investment 83
Bibliography 84
Chapter 2. Boosting skills for all 89
Skills in the Netherlands 90
Snapshot on today’s skills 90
Figure 2.1. Literacy skills of immigrants, less educated and the old lag behind other groups and peers 91
Expected trends in occupations and qualifications 90
Figure 2.2. Changing demand for skills has led to a polarisation in job tasks 91
Incidence of labour market mismatches 92
Developing skills at school 93
Making compulsory education more equitable in imparting basic skills 93
Figure 2.3. Performance in problem solving is relatively low 94
Figure 2.4. Teachers’ salaries relative to earnings for tertiary-educated workers are comparatively low 95
Figure 2.5. Gap between native and second-generation immigrant students is important 96
Ensuring stronger formation of generic and higher skills by vocational education and training 97
Figure 2.6. Perceived vocational education and training image and quality lag behind 97
Developing advanced skills 98
Figure 2.7. Supply of science and engineering skills is low 99
Using skills more effectively at work 100
Figure 2.8. Higher educational attainment enhances employment prospects 100
Figure 2.9. Large gap exists between skill use and proficiency in the Netherlands 101
Improving the transition from school to work to foster the benefits of youth skills 101
Figure 2.10. Temporary employment is common in the Netherlands 102
Figure 2.11. Few temporary workers move to permanent full-time jobs 103
Strengthening entrepreneurial skills 103
Figure 2.12. Proportion of high-growth enterprises is significant once a critical size is reached 104
Reducing labour market mismatches 105
Acquiring skills through work 106
Figure 2.13. Informal on-the-job learning is dominant after the age of 25 106
Putting the skills of youth lagging behind into action 107
Figure 2.14. Youth immigrants are more detached from the labour market than natives 107
Figure 2.15. Skills of young NEETs are responsive to training 108
Reducing disincentives for women’s full-time work 108
Figure 2.16. More women than men work part-time across younger family types 109
Figure 2.17. Women are less likely than men to be managers, except for full-time working mothers 109
Figure 2.18. Financial disincentives to move from part-time to full-time work are significant 110
Sustaining older workers’ skills by fostering work incentives 110
Avoiding skill depreciation due to unemployment and health problems 111
Enhancing immigrants’ labour market integration 113
Figure 2.19. Employment and participation rates of foreign-born are relatively low 113
Figure 2.20. Natives have stronger information-processing skills than foreign-born adults 114
Recommendations to boost skills for all 116
Bibliography 116

Produkt-Details

• Erscheint lt. Verlag: 3.3.2016
• Sprache: englisch
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• ISBN-10: 92-64-25196-0 / 9264251960
• ISBN-13: 978-92-64-25196-0 / 9789264251960