Climate change is a major threat to the sustainability and inclusiveness of our societies, and to the planet's habitability. A just transition to a low-carbon economy is the only viable way forward. This paper reviews the climate change challenge. It stresses the criticality of systems changes...

Peru has experienced remarkable socio-economic progress over the last two decades, enabling it to join the group of upper middle-income countries around 2010. However, challenges are ahead if the country is not to be caught in various development traps. Overcoming these challenges in the near...

Since the launch of the Ðổi Mới economic reforms in 1986, Viet Nam has achieved tremendous economic and social progress. Today, it is well integrated on global markets, has enjoyed robust growth, and has seen remarkable poverty reduction. With its recent successful fiscal consolidation, its...

Going forward, Korea faces two closely related challenges: sustaining economic growth against the backdrop of a rapidly aging population and ameliorating income inequality. This paper argues that a gradual increase in social spending could promote more sustainable and inclusive growth in Korea....

The Western Balkans region has come a long way over the last two decades in achieving economic and social progress. With a population of 17.6 million, the region today boasts a combined gross domestic product (GDP) of close to EUR 100 billion, an average GDP per capita of about EUR 5 400 and a...

This paper discusses the main challenges faced by resource-rich nations in promoting equity; describes policy tools available for managing exhaustible natural resources; and analyzes the relationship between resource wealth and state fragility. It is argued that human capital accumulation,...

This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We combine data on government debt, fiscal...

This volume is the first of the OECD Development Pathways, a new series that looks at multiple development objectives beyond an exclusive focus on growth. The series starts with Myanmar, a country to be covered for the first time by the OECD. This initial assessment shows that Myanmar’s...