This 2008 edition of OECD's periodic review of Australia's economy focuses on key challenges including raising the labour supply, enhancing educational performance, enhancing the functioning of product and labour markets, and improving water management.
Executive Summary Assessment and Recommendations Chapter 1. Key Challenges -In the Short Term, the Key Challenge is to Stem the Rise in Inflationary Pressures -Monetary and Financial Conditions Have Become Tighter -In the Short-Term, Fiscal Policy Will Moderate Demand Pressures -Medium-Term Fiscal Management Needs to be Improved -A Comprehensive Review of the Tax System is Under Way -Raising Productive Capacity and Enhancing Market Flexibility -Annex 1.A1. Progress in Structural Reform Chapter 2. Raising Labour Supply -Meeting the Supply Potential -Immigration: An Additional Potential Source of Skilled Labour -Summing Up Chapter 3. Enhancing Educational Performance -The Provision of Educational Services -Certain Educational Outcomes are Good, but there is Scope for Improvement -Reforms to Enhance the Performance of the Education System -Summary of Recommendations Chapter 4. Enhancing the Functioning of Product and Labour Markets -Product Market Regulations should be Improved -Regulations Must Be Further Simplified and Harmonised -Develop and Modernise Infrastructure in a more Integrated Nationwide Framework -The Labour Market Must Remain Flexible -Evaluation and Recommendations Chapter 5. Improving Water Management -Water Resources are Over-Exploited and Poorly Used -Reforms and their Implementation -Accelerating the Implementation of Reforms -Conclusions and Recommendations -Annex 5.A1. Definition of some Technical Terms Glossary