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OECD Economic Surveys: Slovenia 2011
OECD Publishing, February 2011, Pages: 134
OECD's 2011 survey of Slovenia's economy. This edition includes chapters covering the aftermath of the crisis, improving educational outcomes, and foreign investment, governance and economic performance.
Slovenia has been deeply affected by the global crisis, but is now recovering gradually along with the rest of the OECD area. As Slovenia is a small open economy within the euro area, it is crucial for it to rapidly rebalance its economy and restore competitiveness. The proposed pension reform is a first step in the right direction to improve fiscal sustainability and boost labour supply. However, a further comprehensive pension reform is needed. To get closer to the technology and efficiency frontiers, reforms of the education system and policies to promote innovation, labour market flexibility and a friendlier environment for foreign direct investment (FDI) would be helpful.
Assessment and recommendations
Chapter 1. The macroeconomy in the aftermath of the crisis
The crisis has taken a heavy toll on the economy
Macro-policy is facing several challenges in the medium term
Raising the productive capacity of the economy requires ongoing structural reform
Annex 1.A1. Progress in structural reform
Chapter 2. Improving educational outcomes
Reforms to improve educational performance
Annex 2.A1. The education system in Slovenia
Annex 2.A2. Private returns to education in Slovenia
Chapter 3. Foreign investment, governance and economic performance
There is scope to significantly raise labour productivity across all sectors of the economy
What is holding back labour productivity growth in Slovenia?
Boosting foreign direct investment will help to raise efficiency
Productivity and FDI would be enhanced by rationalising public ownership and improving governance
Annex 3.A1. Methodological Appendix