Economic Policy ReformsGoing for Growth© OECD 2010
Responding to the Crisis whileProtecting Long-term Growth
OECD countries have taken a wide range of measures in response to the crisis,notably in the areas of infrastructure investment, taxes, the labour market,regulatory reforms and trade policy. This chapter assesses the expected effects of these measures on long-run income levels, and examines structural policychallenges to deliver strong and sustainable growth going forward. The mainconclusions are that OECD countries have so far avoided major mistakes – in particular concerning trade and labour market policies – but some risks remain. Thecrisis has in general reinforced the need for structural reforms. These reforms couldhelp to speed up the ongoing recovery, strengthen public finances while protectinglong-term growth and, in some cases, contribute to the resolution of global currentaccount imbalances.