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Publications & Documents


  • 30-March-2020

    English

    Structural developments in global financial intermediation: The rise of debt and non-bank credit intermediation

    This paper examines global credit intermediation through the lens of financial markets and financial intermediaries in the post-crisis period during which highly accommodative monetary policies contributed to investors’ search for yield. It reviews the extent to which non-bank intermediation contributed to the rise of sovereign and corporate debt levels and exuberance in global credit markets. It also assesses forms of market-based finance that are contributing to financial vulnerabilities, including leverage loans and collateralised loan obligations (CLOs), fixed-income investment funds, and bank contingent convertible debt. Post-crisis policy frameworks should adapt to the shift toward market-based finance in many countries to allow better consideration of the interactions between monetary, prudential, and regulatory tools with respect to credit intermediation and risks. Policies should also consider the optimal combination of macroprudential and activities-based tools in non-bank credit intermediation to address vulnerabilities without undermining the benefits of market-based finance.

  • 14-March-2020

    English

    OECD International Direct Investment Statistics 2019

    Driven by technological change, global competition and the liberalisation of markets, international direct investment plays a key role in the process of global economic integration. OECD compiles and disseminates reliable and up-to-date statistics which are essential for a meaningful interpretation of investment trends for informed policy making. These statistics are based on official reports by OECD countries for investments world-wide. Internationally comparable data makes it possible to measure the degree of economic integration and competitiveness of markets.

  • 28-January-2020

    English

    The Impact of Big Data and Artificial Intelligence (AI) in the Insurance Sector

    While much benefit can be expected from big data and AI, there are also a number of risks that require policy considerations. General guidance or regulation related to the use of big data and application of AI could eventually be developed by governments, and the insurance sector should be prepared to incorporate them in their specific context.

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  • 30-October-2019

    English, PDF, 3,637kb

    Pension Markets in Focus 2019

    29 October 2019 - Pension assets have been growing over the last decade, reaching USD 44.1 trillion worldwide at the end of 2018, despite a decline relative to end-2017. This trend is attributable to positive real net returns over the long term, and to increased contributions paid as more people are being covered by a pension plan in a number of countries, especially in those with recent mandatory or auto-enrolment programmes

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  • 9-September-2019

    English

    OECD Reviews of Pension Systems: Peru

    This review assesses Peru’s pension system in its entirety, looking at both public and private, pay-as-you-go (PAYG) financed and funded pension provisions. The review then provides policy options to help tackle old-age poverty; establish a solid framework for the contributory pension system to meet its objectives; improve the coverage and level of pensions; and optimise the design and improve the regulation of the funded private pension component. A further goal of these proposals is to improve the Peruvian population’s trust that the country’s pension system will be able to deliver secure retirement income in old age. The review is the fifth in a series of country reviews of pension systems [Ireland (2014), Mexico (2016), Latvia (2018), and Portugal (2019)]. These reviews provide countries with policy options that will help them improve the functioning of their overall pension system. Tailored policy options are proposed based on the specificities of the national pension system, and on international best practices regarding reforms, design and regulation of pension systems.

  • 2-July-2019

    English, PDF, 2,801kb

    Will future pensioners work for longer and retire on less? (Policy Brief)

    This policy brief analyses the impact of reforms in recent decades on pension systems, including comparisons of the pensions people starting work today can expect compared to the pensions of people who retired recently.

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  • 31-May-2019

    English, PDF, 1,301kb

    Pension Funds in Figures 2019

    31/05/2019 - Preliminary data for 2018 show that assets in pension funds amounted to USD 27.6 trillion in the OECD area, close to 4% lower than in 2017. Calculated in national currencies, pension fund assets declined in 12 out of 34 reporting OECD countries, including some of the largest pension markets: Japan (-1.1%), the Netherlands (-1.2%), Switzerland (-0.7%), the United Kingdom (-0.3%) and the United States (-5.0%).

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  • 29-May-2019

    English

    Objectives and challenges in the implementation of a universal pension system in France (Working Paper)

    The mission of the French High Commission for Pension Reform is to prepare the reform introducing a universal pension points system in France. This paper explains why implementing a universal points system in France would increase transparency, reduce inequality and generate efficiency gains for the whole economy.

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  • 20-March-2019

    English

    OECD Reviews of Pension Systems: Portugal

    This review provides policy recommendations on how to improve the Portuguese pension system, building on the OECD’s best practices in pension design. It details the Portuguese pension system and identifies its strengths and weaknesses based on cross-country comparisons. The Portuguese pension system consists of an old-age safety net, a pay-as-you-go defined benefit scheme and voluntary private savings. The safety net includes an old-age social pension and a complement (the so-called Complemento Solidário para Idosos or CSI), both of which pursue similar objectives but have different eligibility criteria. The defined benefit scheme has two main components: the general social security scheme (regime geral da Segurança Social) and the civil-servant pension scheme (Caixa Geral de Aposentações or CGA). The latter has been closed to new entrants since 2006 with new civil servants contributing to the general scheme. Funded voluntary pensions make up a very small share of total pension entitlements. The OECD Reviews of Pension Systems: Portugal is the fourth in the series, after Ireland (2014), Mexico (2016) and Latvia (2018), with a fifth review on Peru under preparation. 

  • 20-December-2018

    English

    Working Better with Age: Japan

    Currently, Japan has the highest old-age dependency ratio of all OECD countries, with a ratio in 2017 of over 50 persons aged 65 and above for every 100 persons aged 20 to 64. This ratio is projected to rise to 79 per hundred in 2050. The rapid population ageing in Japan is a major challenge for achieving further increases in living standards and ensuring the financial sustainability of public social expenditure. However, with the right policies in place, there is an opportunity to cope with this challenge by extending working lives and making better use of older workers' knowledge and skills. This report investigates policy issues and discusses actions to retain and incentivise the elderly to work more by further reforming retirement policies and seniority-wages, investing in skills to improve productivity and keeping up with labour market changes through training policy, and ensuring good working conditions for better health with tackling long-hours working culture.
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