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OECD, 2005 - Austria - 133 pages
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This 2005 edition of OECD's periodic survey of Austria's economy finds two challenges needing attention: first, fiscal peformance must be improved reducing government debt and improving fiscal federal relations and second, growth is held back by low participation of older workers. This issue's special feature focuses on innovation and education's effect on innovation.Table of contents in English?Executive Summary?Assessment and Recommendations?Chapter 1. Economic issues and Policy Challenges?-A Protracted Cyclical Downturn is Coming to an End?-Maintaining Good Economic Performance Requires Further Policy Initiatives?Chapter 2. Fiscal Policy Issues?-Rising Deficits Require a New Phase of Fiscal Consolidation?-Recent Pension Reform Marks Substantial Progress?-Spending Programmes, Notably Family Benefits, Would Also Benefit from Reform?-Reaping the Full Benefits Associated with Tax Reform Rests on Fiscal Sustainability?Chapter 3. Reforming Federal Fiscal Relations?-Main Features of the Austrian Federal Fiscal System?-Issues in Funding Across Layers of Government?-Issues in the Allocation of Spending Responsibilities?-Towards Higher Accountability of the Budgeting Process?Chapter 4. Fostering Productivity Growth and Innovation?-Innovation Activity is Catching Up?-Regulatory Reform Can Strengthen Productivity Growth and Innovation?-Allocation of Public Sector Support for Innovation Can Be Improved?-The Education System Needs Institutional Reform?Glossary

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