13/06/2005 10:47:24 am
OECD: Liberalisation = Higher Incomes. These are the conclusions in a new OECD working paper:

"Boosting market liberalisation by reducing trade, investment and competition barriers to "best practice" levels could significantly raise GDP per head in the European Union and the United States...

The paper estimates that reducing such barriers could increase GDP per head over the medium term by the following amounts:

2 to 3½ per cent in the European Union.
1¼ to 3 per cent in the OECD area as a whole.
1 to 3 per cent in the United States.
½ to 1½ per cent in the OECD area outside the United States and the European Union.

These higher levels of GDP, once in place, would have a cumulative effect on earnings. The study estimates that the benefit to workers in OECD countries could amount to the equivalent of a full year′s income across a working lifetime."

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