Title: Delphi Economic Forum: Keynote address in the Opening Session
Date: 10 April 2024
Speaker: OECD Secretary General.Mathias Cormann
Event: Delphi Economic Forum
Venue: European Cultural Centre of Delphi
https://youtu.be/XkvDVZgigdU?si=jpGHjC3I52DIaGKb
https://www.oecd.org/en/about/news/speech-statements/2024/04/delphi-economic-forum-keynote-address-in-the-opening-session.html
Glossary:
1. OECD Centre for Population Dynamics OECD 인구역학센터
:OECD가 설립한 연구기관으로, 출산율, 고령화, 이민 등 인구 변화가 경제와 사회에 미치는 영향을 연구함.
2. Crete Centre 크레타 센터
:그리스 크레타 섬에 있는 OECD 인구역학센터의 지역 사무소.
3. Crete Conference for Dialogue on Population
인구대화 크레타 국제회의
:OECD와 델피경제포럼이 공동 주최하는 국제회의로, 고령화가 재정·생산성·이민에 미치는 영향을 논의함.
4. competition enforcement 경쟁법 집행
:정부가 독점, 담합, 불공정 거래를 막기 위해 경쟁법(공정거래법)을 조사하고 제재하는 활동.
(448 words)
앞부분 인사말 + 첫 번째 정책 우선순위 부분은 편집함.
A second policy priority is to confront the challenge of population ageing.
The combination of declining fertility rates and rising life expectancies is shifting the composition of the workforce towards older workers:
Back in the year 2000, across the OECD there were 23 adults aged 65 and over for every 100 people of working age.
Today that number has grown to 34, and by 2050 it is expected to reach 53 – that is, the group of adults aged 65 and over across OECD countries is expected to be more than half the size of the working-age population.
This development affects labour markets by reducing the number of workers. Lower workforce participation levels, all other things being equal will mean lower growth and hence lower incomes for governments at a time when public demand for social and health care services and pensions will continue to go up and up.
We will need to address the challenge of population ageing through a combination of measures – including by boosting workforce participation by underrepresented groups in the labour market. We need to boost workforce participation by women, as well as younger and older workers.
That means reforms of policies which better support balancing work and care responsibilities, to promote longer working lives and to ensure the sustainability of the pension, healthcare and long-term care systems.
International migration can also help address population ageing, but it needs to be well managed and requires a commitment to effective economic and social integration.
The new OECD Centre for Population Dynamics – the Crete Centre – strengthens our understanding of demographic challenges, including those related to ageing and migration.
We are looking forward to working with the Delphi Economic Forum on the first international Crete Conference for Dialogue on Population, which will deepen our understanding of the impact of ageing on public finances, the interactions between ageing, productivity and growth, and migrant entrepreneurship.
Boosting productivity growth will be a key step to further enhance living standards among a declining population.
Especially so in Greece, which is still about a third less productive than the average OECD economy.
But productivity growth across OECD economies has also significantly declined over the last 20 years.
Action in several areas is necessary to reverse this trend.
Effective competition enforcement and reduced regulatory barriers to entry are important to help ensure that markets are genuinely contestable by new innovative firms.
Digital infrastructure – such as broadband access – needs to be enhanced to help firms reach their potential, including through fostering competition among digital service providers and streamlining administrative procedures for network deployment.
Improving the quality of education and skills will ensure that we have the human capital required to underpin productivity growth.