دانلود کتاب OECD Economic Surveys : Luxembourg 2017

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Table of contents Basic statistics of Luxembourg, 2016 Executive summary Economic growth is strong Financial sector is the backbone of the economy A better skills strategy is needed to make growth more inclusive Skills mismatch is high Improving integration of immigrants would boost well-being Non-EU immigrants face higher unemployment Assessment and recommendations Figure 1. Life is good in Luxembourg Macroeconomic developments Economic growth is projected to stay strong Table 1. Macroeconomic indicators and projections Figure 2. Macroeconomic developments are healthy Figure 3. Evolution of macro-financial vulnerabilities since 2007 Box 1. Medium-term vulnerabilities of the Luxembourg’s economy Risks facing the financial sector need to be addressed Figure 4. Financial services contribute strongly to GDP growth Figure 5. Assets under management are at a record high Table 2. Implementation of OECD recommendations on the financial sector Figure 6. Tax revenues from the financial sector are volatile The constrained supply of housing is fuelling strong price growth Figure 7. Real house prices are growing strongly Figure 8. Increasing price to rent ratio points to overvaluation Figure 9. Household indebtedness is increasing The short-term fiscal space is being used for a tax reform Figure 10. There is ample fiscal space Figure 11. Public debt is low and sustainable Figure 12. Tax revenues rely on corporate income taxes Further reforms are needed to contain age-related spending Figure 13. Ageing costs are projected to rise Figure 14. Net pension replacement rates are high Table 3. Implementation of OECD recommendations on fiscal and tax policies and on age-related spending Figure 15. Average effective age of labour-market exit is low Green growth requires further investment Figure 16. Green growth indicators Investment into renewable energy needs to be stepped up Table 4. Comparison of installed capacity for renewable energy generation Better public transport infrastructure is needed for inclusive and sustainable growth Figure 17. Congestion times are among the highest in Europe Table 5. Implementation of OECD recommendations on green growth Better skills for more inclusive growth The importance of skills for inclusive growth Figure 18. Labour market polarisation is changing the demand for skills Box 2. Third industrial revolution is taking off in Luxembourg Figure 19. Some measures of skill mismatch are high Figure 20. Unemployment rates are higher for low-skilled workers Analysing and anticipating changing skill needs Improvements in the education system Figure 21. Grade repetition rate is among the highest in the OECD Improving lifelong learning Figure 22. Better educated adults participate more in lifelong learning Developing entrepreneurial skills for innovation Figure 23. The number of start-ups is lagging the best EU performers Figure 24. Obstacles to doing business still exist in some areas Figure 25. Insolvency costs are high Figure 26. Gender gap in perception on access to entrepreneurial training is pronounced Making better use of existing skills Improving the job matching Figure 27. Share of training in active labour market policy spending is low Figure 28. Young workers often work on temporary contracts Figure 29. Employment protection for permanent workers is above the OECD average Increasing incentives to work Figure 30. Most part-time workers are women Improving the labour market and social integration of immigrants Luxembourg has benefited a lot from immigrants, but their integration could improve Figure 31. The large immigrant population has a high employment rate Figure 32. Luxembourg has long attracted immigrants Figure 33. Non-EU immigrants face higher unemployment Figure 34. Children of immigrants underperform by a wide margin Policies for better labour market and social integration Improving the educational outcomes of the children of immigrants Figure 35. Performance and immigrant background of students differ by secondary education tracks Table 6. Implementation of OECD recommendations on education system Bibliography Annex. Progress in structural reform Macroeconomic policies Financial sector Raising human capital and enhancing resource allocation Thematic chapters Chapter 1. Harnessing skills for more inclusive growth The importance of skills and main challenges Figure 1.1. High labour productivity reflects high level of skills Figure 1.2. Language and computer skills are above average Figure 1.3. Labour market polarisation is changing the demand for skills Box 1.1. The restructuring of Luxembourg’s steel industry, 1975-1987 Figure 1.4. Some measures of skill mismatch are high Figure 1.5. The overall PISA results show a persistent gap Figure 1.6. There is room for further improvement of skills Figure 1.7. Upskilling of the labour force is lagging behind the best performers Figure 1.8. Participation rates are low for the youngest and the oldest Figure 1.9. Female unemployment rate exceeds male Policies ensuring flexible and continuously improving supply of skills Analysing and anticipating changing skill needs Addressing future skill shortages through improvements in the education and training system Figure 1.10. Successful completion rates in secondary education are low Figure 1.11. Enrolment in Vocational Education and Training is high Figure 1.12. Perceived vocational education and training image and quality are modest Figure 1.13. The share of tertiary-educated population is high Figure 1.14. Students are not interested in science and engineering careers Figure 1.15. Career guidance is widespread Improvements in life-long learning Figure 1.16. For older workers studying is more costly than workplace training Developing entrepreneurial skills and innovation Policies ensuring better use of existing skills Improving the job matching Figure 1.17. Young workers often work on temporary contracts Improving the incentives for labour market participation Figure 1.18. High marginal tax rates create an inactivity trap Figure 1.19. High participation tax rates create an unemployment trap Figure 1.20. Work disincentives for second earners are high Recommendations to improve skills for more inclusive growth Bibliography Chapter 2. Reaping the benefits of a diverse society through better integration of immigrants Luxembourg benefits a lot from the large immigrant population, but integration could improve Figure 2.1. Migration flows have long been substantial, leading to a large foreign-born population Figure 2.2. Immigrants have mainly come from Europe Figure 2.3. Immigrants have a high overall employment rate Figure 2.4. Immigrants have a higher proportion of prime-age workers Figure 2.5. Non-EU prime-age immigrants have an employment rate disadvantage Figure 2.6. The risk of poverty is high among non-EU immigrants Policies for better labour market and social integration Foundations for successful integration: social capital, languages and recognition of skills Box 2.1. Luxembourg’s diversity charter Fostering civic and public sector participation Figure 2.7. Immigrants are strongly under-represented in public sector jobs Figure 2.8. Very few immigrants take Luxembourgish citizenship Figure 2.9. Citizenship indicators, 2016 Migration and asylum policies: attracting talent and removing barriers to employment Figure 2.10. The processing time for immigration of highly-skilled workers is high Improving the educational outcomes of the children of immigrants Figure 2.11. Children of immigrants underperform by a wide margin Figure 2.12. Socio-economic status has a large impact on student performance The place to start: more and better early childhood education and care Tackling early tracking and grade repetition Figure 2.13. Performance and immigrant background of students differ by secondary education tracks Figure 2.14. Grade repetition is high, especially among immigrant students Improving the performance of disadvantaged schools and students Figure 2.15. Disadvantaged schools face greater shortages of educational resources Recommendations to improve the integration of immigrants Bibliography