OECD Development Co-Operation Peer Reviews - United States 2016 [electronic resource]
- Corporate Author:
- Organisation for Economic Cooperation and Development: Development Assistance Committee
- Paris : Organization for Economic Cooperation & Development Dec. 2016 Lanham : Rowman & Littlefield Publishers, Incorporated [Distributor]
- Physical Description:
- 133 p. 11.000 x 08.000 in.
- Restrictions on Access:
- License restrictions may limit access.
- Annotation The population of the United States in July 2015 was 321.4 million people, while its gross domestic product (GDP) per capita was USD 55 798 (at purchasing power parity exchange rates). Growth in GDP averaged 2% between 2011 and 2015 - which is above the OECD average - and is projected to continue at the same pace in 2016 and 2017. The US remains the most resilient of the large economies in the developed world. Eight years after the 2008 financial crisis, the US economy has rebounded thanks to robust monetary policy support and the well-timed expansion of fiscal policy. Output has surpassed its pre-crisis peak by 10%, solid private-sector employment gains sharply reduced unemployment to 5.3% in 2015, and fiscal sustainability has been largely restored. After peaking at 10.5% of GDP in 2009, the general government budget deficit had narrowed to 4.4% by 2015, reflecting both the improving economy and a period of sustained and substantial consolidation since 2011. The regained fiscal space will allow for higher public investments to boost productivity growth and address increasing income inequalities. The United States is successfully deploying its global leadership, including through its economic and diplomatic power, to advance the development agenda internationally. In 2015, for instance, the US played a significant role in the international negotiations on Agenda 2030 for Sustainable Development, the Addis Ababa Action Agenda and the Paris Climate Agreement. US leadership in this arena has been strengthened with the elevation of development as a core pillar of US foreign policy alongside diplomacy and defence; underpinned by the 2010 Presidential Policy Directive on Global Development (PPD-6). Targeted diplomatic actions, combined with support from the top, demonstrate a renewed commitment by the US to tackle key development challenges. The US-China deal on carbon emissions, for example, was an essential milestone in reaching the Paris Climate Agreement and their formal entry into the agreement is a major step towards bringing it into effect. Similarly, the President's repeated calls for ending extreme poverty paved the way for raising the level of ambition of the sustainable development goals (SDGs).
9264266968 (Trade Paper)
- Audience Notes:
- Scholarly & Professional Organization for Economic Cooperation & Development
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