Increasing the labour force participation rates of older workers is a fundamental component of most OECD （Organization for Economic Cooperation and Development） countries＇ response to the fiscal pressures associate...Increasing the labour force participation rates of older workers is a fundamental component of most OECD （Organization for Economic Cooperation and Development） countries＇ response to the fiscal pressures associated with ageing populations. Both pension reform and employment policies are key elements to achieving such increases in participation and reversing the early retirement trends of recent decades. Econometric modeling results from a panel of 12 OECD countries indicate that labour market variables have a greater influence than social security pension value or the standard age of retirement on the labour force participation rates of males aged 55-64 years. Further results from modeling the potential asymmetric response of participation rates to unemployment rates indicate that a decrease in unemployment rates has a greater impact upon increasing the labour force participation rates of older workers compared to the effect of an increase on unemployment rates has on discouraging participation. We found mixed results for the asymmetric response of participation to an increase or decrease in pension value. Findings thus emphasize the importance of labour market oriented policies to reduce unemployment rates in the developed economies in coming years to address ageing population concerns.展开更多
OECD/NEA （Organization for Economic Cooperation and Development/Nuclear Energy Agency） launched the SERENA （steam explosion resolution for nuclear application） project to resolve internationally the ex-vessel stea...OECD/NEA （Organization for Economic Cooperation and Development/Nuclear Energy Agency） launched the SERENA （steam explosion resolution for nuclear application） project to resolve internationally the ex-vessel steam explosion issue, which is one of major unresolved issues after a TMI-2 （three mile island-2） accident. One of main conclusions of OECD/NEA SERENA Phase 1, which was completed in 2005, was that some damage to the cavity is to be expected for an ex-vessel explosion. One major uncertainty that does not allow for a convergence toward consistent predictions was that there are no data on the component distribution in a pre-mixture at the time of an explosion, especially the level of the void. The other major uncertainty is the explosion behavior of corium melts. Therefore, SERENA Phase 2 was launched on October 1, 2007 to resolve the uncertainties of the coolant void and material effect by performing a limited number of well-designed tests with advanced instrumentation reflecting a large spectrum of ex-vessel melt compositions and conditions, and the required analytical work to bring the code capabilities to a sufficient level for use in reactor case analyses. The recent status of the OECD-SERENA Phase 2 project for the resolution of ex-vessel steam explosion risks will be described.展开更多
As China needs to play a more active role in global energy governance, it must create a diversified, multi-level system to enhance energy security and to alleviate environmental pressures. A China-IEA bilateral relati...As China needs to play a more active role in global energy governance, it must create a diversified, multi-level system to enhance energy security and to alleviate environmental pressures. A China-IEA bilateral relationship exists under an Association Initiative, but a stronger bond is needed. Though it is not an IEA member, China's massive energy needs makes it sensible that the two sides overcome existing obstacles that include OECD membership, statistical information issues and energy autonomy. In this regard an "IEA+China" might be a feasible model.展开更多
Using available data and necessary estimations, this paper provides a tentative picture of the balance sheet of China＇s sovereign account between 2000 and 2010. The main findings indicate that the net worth of China...Using available data and necessary estimations, this paper provides a tentative picture of the balance sheet of China＇s sovereign account between 2000 and 2010. The main findings indicate that the net worth of China＇s sovereign assets had been positive and increasing during the period under review. This implies that the Chinese government has sufficient sovereign assets to cover its sovereign liabilities, therefore the likelihood of a sovereign debt crisis in China is extremely low in the near term. Moreover, although China＇s leverage ratio （total liabilities/GDP） is far lower compared to advanced economies, it seems higher than that of other major emerging economies such as Brazil, Russia, and India （BRIC）. In fact, the leverage ratio has been increasing rapidly over recent years and requires special attention. In particular, according to sector-specific analysis, high corporate liability ratios （percentage to GDP） constitute a major concern of China＇s national balance sheet. In 2010, this liability ratio exceeded l OO percent, which exceeds the 90 percent level observed in OECD countries. Lastly, this paper concludes that a sustainable economic growth and structural transformation of growth model are the fundamental means to taming China＇s balance sheet risks.展开更多
The Organisation for Economic Cooperation and Development （OECD） defines corporate governance as, ＂the way in which boards oversee the running of a company by its managers, and how board members are in turn account...The Organisation for Economic Cooperation and Development （OECD） defines corporate governance as, ＂the way in which boards oversee the running of a company by its managers, and how board members are in turn accountable to shareholders and the company.＂ In recent years the issue of corporate governance and committees related to it and their impacts on corporate performance have continued to gain widespread prominence in the capital market economy. Corporate Governance Rating is meant to indicate the relative level to which an organisation accepts and follows the codes and guidelines of corporate governance practices. The purpose of the paper is to examine the rating reports of 27 companies which have obtained the corporate governance rating by rating agencies. The study highlights that the ＂stakeholders＂ sections of the reports are the most powerful part of the reports whereas the ＂board of directors＂ sections are the weakest. Potential areas for improvements are also identified.展开更多
The increase of inter-boundary transactions brings a number of benefits for enterprises. However, even when benefits of transfer pricing are evident, multinational organizations still face legal challenges, including ...The increase of inter-boundary transactions brings a number of benefits for enterprises. However, even when benefits of transfer pricing are evident, multinational organizations still face legal challenges, including performing parts of transactions in another jurisdiction and motives of tax officials in investigating transfer pricing. This is especially true when countries do not want to lose benefits from tax collection. Therefore, many countries and organizations such as the Organization for Economic Cooperation and Development （OECD）, Pacific Association of Tax Administrators （PATA）, the European Union （EU）, and Vietnam have introduced requirements for transfer pricing documentation to prevent transfer pricing manipulation and maintain benefits from taxes. The aim of this research was to assess the compliance of those requirements of foreign direct investment （FDI） enterprises in Vietnam. This article which is a summary of our research includes the following sections： （1） OECD guidelines of transfer pricing documentation; （2） Vietnam regulations of transfer pricing documentation; （3） results of the research; and （4） discussion and conclusion.展开更多
文摘Increasing the labour force participation rates of older workers is a fundamental component of most OECD （Organization for Economic Cooperation and Development） countries＇ response to the fiscal pressures associated with ageing populations. Both pension reform and employment policies are key elements to achieving such increases in participation and reversing the early retirement trends of recent decades. Econometric modeling results from a panel of 12 OECD countries indicate that labour market variables have a greater influence than social security pension value or the standard age of retirement on the labour force participation rates of males aged 55-64 years. Further results from modeling the potential asymmetric response of participation rates to unemployment rates indicate that a decrease in unemployment rates has a greater impact upon increasing the labour force participation rates of older workers compared to the effect of an increase on unemployment rates has on discouraging participation. We found mixed results for the asymmetric response of participation to an increase or decrease in pension value. Findings thus emphasize the importance of labour market oriented policies to reduce unemployment rates in the developed economies in coming years to address ageing population concerns.
文摘OECD/NEA （Organization for Economic Cooperation and Development/Nuclear Energy Agency） launched the SERENA （steam explosion resolution for nuclear application） project to resolve internationally the ex-vessel steam explosion issue, which is one of major unresolved issues after a TMI-2 （three mile island-2） accident. One of main conclusions of OECD/NEA SERENA Phase 1, which was completed in 2005, was that some damage to the cavity is to be expected for an ex-vessel explosion. One major uncertainty that does not allow for a convergence toward consistent predictions was that there are no data on the component distribution in a pre-mixture at the time of an explosion, especially the level of the void. The other major uncertainty is the explosion behavior of corium melts. Therefore, SERENA Phase 2 was launched on October 1, 2007 to resolve the uncertainties of the coolant void and material effect by performing a limited number of well-designed tests with advanced instrumentation reflecting a large spectrum of ex-vessel melt compositions and conditions, and the required analytical work to bring the code capabilities to a sufficient level for use in reactor case analyses. The recent status of the OECD-SERENA Phase 2 project for the resolution of ex-vessel steam explosion risks will be described.
文摘As China needs to play a more active role in global energy governance, it must create a diversified, multi-level system to enhance energy security and to alleviate environmental pressures. A China-IEA bilateral relationship exists under an Association Initiative, but a stronger bond is needed. Though it is not an IEA member, China's massive energy needs makes it sensible that the two sides overcome existing obstacles that include OECD membership, statistical information issues and energy autonomy. In this regard an "IEA+China" might be a feasible model.
文摘Using available data and necessary estimations, this paper provides a tentative picture of the balance sheet of China＇s sovereign account between 2000 and 2010. The main findings indicate that the net worth of China＇s sovereign assets had been positive and increasing during the period under review. This implies that the Chinese government has sufficient sovereign assets to cover its sovereign liabilities, therefore the likelihood of a sovereign debt crisis in China is extremely low in the near term. Moreover, although China＇s leverage ratio （total liabilities/GDP） is far lower compared to advanced economies, it seems higher than that of other major emerging economies such as Brazil, Russia, and India （BRIC）. In fact, the leverage ratio has been increasing rapidly over recent years and requires special attention. In particular, according to sector-specific analysis, high corporate liability ratios （percentage to GDP） constitute a major concern of China＇s national balance sheet. In 2010, this liability ratio exceeded l OO percent, which exceeds the 90 percent level observed in OECD countries. Lastly, this paper concludes that a sustainable economic growth and structural transformation of growth model are the fundamental means to taming China＇s balance sheet risks.
文摘The Organisation for Economic Cooperation and Development （OECD） defines corporate governance as, ＂the way in which boards oversee the running of a company by its managers, and how board members are in turn accountable to shareholders and the company.＂ In recent years the issue of corporate governance and committees related to it and their impacts on corporate performance have continued to gain widespread prominence in the capital market economy. Corporate Governance Rating is meant to indicate the relative level to which an organisation accepts and follows the codes and guidelines of corporate governance practices. The purpose of the paper is to examine the rating reports of 27 companies which have obtained the corporate governance rating by rating agencies. The study highlights that the ＂stakeholders＂ sections of the reports are the most powerful part of the reports whereas the ＂board of directors＂ sections are the weakest. Potential areas for improvements are also identified.
文摘The increase of inter-boundary transactions brings a number of benefits for enterprises. However, even when benefits of transfer pricing are evident, multinational organizations still face legal challenges, including performing parts of transactions in another jurisdiction and motives of tax officials in investigating transfer pricing. This is especially true when countries do not want to lose benefits from tax collection. Therefore, many countries and organizations such as the Organization for Economic Cooperation and Development （OECD）, Pacific Association of Tax Administrators （PATA）, the European Union （EU）, and Vietnam have introduced requirements for transfer pricing documentation to prevent transfer pricing manipulation and maintain benefits from taxes. The aim of this research was to assess the compliance of those requirements of foreign direct investment （FDI） enterprises in Vietnam. This article which is a summary of our research includes the following sections： （1） OECD guidelines of transfer pricing documentation; （2） Vietnam regulations of transfer pricing documentation; （3） results of the research; and （4） discussion and conclusion.
