BADEN BADEN, Germany, March 17 Reforms to boost
productivity are slowing in many countries, raising the risk
that some industrialised nations will fall into a trap of low
growth, the Organisation for Economic Co-operation and
Development said on Friday.
With productivity growth in a persistent and widespread
decline for years, some of the world's top economies are failing
in their reform efforts, a risk to wages and living standards,
the OECD said in a regular report called 'Going for Growth'.
"The pace of reform has slowed in countries which have been
particularly active in the previous two-year period, such as
Mexico, Greece, Ireland, Portugal, Poland and Spain, as well as
in a number of countries where reform activity was not so
intense, including Australia, Indonesia and Slovenia," it said.
But the group also found praise for several countries,
including Austria, Belgium, Brazil, Chile, Colombia, France
Israel, Italy and Sweden.
"The recipe for reform varies by country, but the
ingredients include measures to promote business dynamism and
the diffusion of innovation, to help workers to cope with the
rapid turnover of firms and jobs, and to better prepare youth
for the labour market of the future," the OECD said.
(Reporting by Balazs Koranyi)