OECD Economic Surveys - Austria 2017.

144 Pages·4.287 MB·English

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OECD Economic Surveys:
Austria
2017
This document and any map included herein are without prejudice to the status of or
sovereigntyoveranyterritory,tothedelimitationofinternationalfrontiersandboundaries
andtothenameofanyterritory,cityorarea.
Pleasecitethispublicationas:
OECD(2017),OECDEconomicSurveys:Austria2017,OECDPublishing,Paris.
http://dx.doi.org/10.1787/eco_surveys-aut-2017-en
ISBN978-92-64-27875-2(print)
ISBN978-92-64-27876-9(PDF)
ISBN978-92-64-27877-6(epub)
Series:OECDEconomicSurveys
ISSN0376-6438(print)
ISSN1609-7513(online)
OECDEconomicSurveys:Austria
ISSN1995-3127(print)
ISSN1999-0189(online)
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ofsuchdatabytheOECDiswithoutprejudicetothestatusoftheGolanHeights,EastJerusalemandIsraeli
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TABLEOFCONTENTS
Table of contents
BasicstatisticsofAustria,2016............................................... 7
Executivesummary......................................................... 9
Assessmentandrecommendations........................................... 13
Growthispicking-upanddigitalisationbringsnewchallengesandopportunities... 14
Growthispickingup .................................................... 21
Macroeconomicpolicyhasbeensupportive................................. 25
Raisingmedium-termgrowth............................................. 34
Seizingopportunitiesandaddressingthechallengesarisingfromdigitalisation... 39
Challengesforgreengrowth.............................................. 49
Bibliography............................................................ 51
Annex.Progressinstructuralreform........................................... 55
Thematic chapters
Chapter1.Austria’sdigitaltransition:Thediffusionchallenge.................... 61
Austriaisinanintermediarypositioninthedigitaltransition................. 62
Convergencewiththeglobaltechnologicalfrontierisunevenacrosssectors
andfirms .............................................................. 65
Digitalisationtrendsinthebusinesssector................................. 68
Digitalisationtrendsinhouseholds........................................ 84
Publicstrategiestofosterdigitaltransitioncallforbroadsocialsupport ........ 91
RecommendationstofacilitateICTdiffusion.................................. 97
Bibliography............................................................ 97
Chapter2.Inclusivelabourmarketsinthedigitalera............................ 101
Thefutureofwork ...................................................... 102
Gettingskillsright ...................................................... 113
Usingskillseffectivelyinthelabourmarket ................................ 129
Recommendationsforinclusivelabourmarketsinthedigitalera.................. 137
Bibliography............................................................ 138
Boxes
1. Consideringthetax-and-benefitsystemasawhole ...................... 16
2. TheJanuary2017policypackage....................................... 26
3. ImplementationofafiscalinitiativeintheEuropeancontext.............. 28
4. Capacityadjustmentsinthebankingsector............................. 32
5. Austria’s“DigitalRoadmap”........................................... 39
OECDECONOMICSURVEYS:AUSTRIA©OECD2017 3
TABLEOFCONTENTS
1.1. Specialeconomicimpactsofdigitalisation.............................. 64
1.2. TheOpenInnovationStrategyanddigitalisation-orientedprogrammes ..... 82
1.3. HagenbergSoftwarePark ............................................. 84
1.4. AirbnbandUberinAustria:Vienna’sapproachtothe“sharing”economy.... 95
2.1. Statutorydifferencesbetweennon-standardandstandardwork ........... 109
2.2. Educationreform2015 ............................................... 116
2.3. Singapore’sSkillsFutureprogramme ................................... 128
2.4. Labourmarketmismatch:evidencefromPIAAC ......................... 133
Tables
1. Macroeconomicindicatorsandprojections.............................. 24
2. Possibleshocksandtheireconomicimpact ............................. 24
3. Pastrecommendationstopromotegenderequalityandactionstaken ...... 35
4. Pastrecommendationstopromotegrowth.............................. 38
Figures
1. Well-beingishigh ................................................... 15
2. Redistributionplaysanimportantrole.................................. 16
3. Divergencesinlifesatisfaction ........................................ 17
4. Thelow-educatedfacespecialpressures................................ 18
5. Migrationinflowshavefosteredlaboursupply........................... 19
6. Jobtenureislongandgeographicmobilitylow .......................... 20
7. Austria’smarketshareinmainexportdestinations ...................... 22
8. Recentdevelopments ................................................ 23
9. Evolutionofmacro-financialvulnerabilitiessince2007 ................... 25
10. Fiscalbalanceshaveimprovedbutdebtremainshigh..................... 26
11. Long-termfiscalpressuresarisingfromageingarehigh................... 29
12. Thepublicdebtpathishighlyuncertain ................................ 29
13. Revenueandspendingstructuresofferroomforreform .................. 30
14. Bankprofitabilityandcapitaladequacyarerelativelylow ................. 32
15. Monetarypolicytransmissionoperateswellbuttherearesignsoffriction... 33
16. Potentialgrowthhasweakened........................................ 34
17. Participationincreasedbutmainlyinpart-timejobs...................... 35
18. Labourproductivitygrowthbysector................................... 37
19. Retailandprofessionalservicesremainover-regulated ................... 39
20. AdvanceddigitalinfrastructuresarelessusedinAustria.................. 41
21. EnterpriseslagbehindpeersinmostICTapplications .................... 42
22. Theoveralldegreeofdigitalisationisbehinditsexpectedlevel............. 43
23. SmallfirmsdisplaydistinctweaknessesinICTs ......................... 44
24. ICTadoptiongapsbetweenpopulationgroups:thecaseofe-commerce..... 46
25. DifferencesinskillsuseatworkbetweenAustriaandpeercountries ....... 47
26. Theadultpopulation’sdigitalproficiencyislowerthaninpeercountries.... 48
27. Greengrowthindicators:Austria....................................... 50
1.1. Austriaintheinternationaldigitaltransition............................ 63
1.2. Austriaisaninnovationleaderine-governmentbutdiffusionisslow
amonghouseholds................................................... 64
1.3. ICTusageacrossindustries ........................................... 67
4 OECDECONOMICSURVEYS:AUSTRIA©OECD2017
TABLEOFCONTENTS
1.4. Machine-to-machinemobilecellularsubscriptions....................... 68
1.5. Broadbandconnectivity .............................................. 69
1.6. Digitalmarketing.................................................... 71
1.7. Digitalmanagement ................................................. 72
1.8. Cloudcomputing.................................................... 73
1.9. Theadultpopulation’sdigitalproblemsolvingproficiencyislowerthan
inpeercountries .................................................... 75
1.10. ToofewAustrianshaveadvanceddigitalskills........................... 76
1.11. Austria’spositioninICT-specialistskills ................................ 78
1.12. Austrianfirms’workprocessesarelessinformation-intensive............. 79
1.13. TheorganisationofICTfunctionsinfirmsdiffersfrompeercountries ...... 80
1.14. Firmdemographicsmaybeaffectingthemodernisationofbusinessmodels ... 82
1.15. Broadbandconnectivityofhouseholds ................................. 85
1.16. Averageadvertiseddownloadspeeds................................... 86
1.17. Useofcomputersandinternetbyhouseholds ........................... 86
1.18. Specificinternetapplicationsusedbyhouseholds........................ 87
1.19. Influenceofage ..................................................... 88
1.20. Influenceofeducation ............................................... 89
1.21. Influenceofgender .................................................. 90
1.22. Influenceofimmigrationorigin........................................ 90
1.23. Fibresubscriptionsamongcountries ................................... 93
2.1. Changeinemploymentsharesbetween1998and2015 ................... 103
2.2. EmploymentratesinAustriabyageandlevelofeducation................ 103
2.3. Automationwillaffectalargeshareofjobs ............................. 104
2.4. Estimatedeffectofskilluseatworkonautomatibilityofjobs.............. 105
2.5. DifferencesinskillsuseatworkbetweenAustriaandpeercountries ....... 106
2.6. “Brightoutlookoccupations”intheUnitedStates........................ 107
2.7. Shareof“brightoutlookoccupations”byeducationalattainment .......... 107
2.8. Structureofgeneralgovernmentrevenues .............................. 112
2.9. Thetax-and-transfersystemisstronglyredistributive.................... 113
2.10. Many15-year-oldslackbasicscientificskills ............................ 114
2.11. Attitudestowardsscience............................................. 117
2.12. Problem-solvingbyeducationalattainment ............................. 119
2.13. Statusofthe20-24year-olds .......................................... 120
2.14. Uppersecondaryenrolmentratesof15-19year-olds...................... 121
2.15. Timetofirstemploymentbytypeofeducation .......................... 124
2.16. Medianmonthlyearningsbytypeofeducationaltrack.................... 125
2.17. Participationrateineducationandtraining ............................. 127
2.18. Employmentbygenderandageofyoungestchildinhousehold............ 129
2.19. Employmentratesof55-64yearolds ................................... 130
2.20. Educationalattainmentandlabourmarketstatusbyplaceofbirth......... 131
2.21. Field-of-studymismatchbyfieldandoccupationalgroup ................. 132
2.22. Policyreformscanreduceskillsmismatch .............................. 134
2.23. DifferencesintheuseofICTatwork ................................... 136
2.24. Differenceintheprevalenceoflearningandflexibilityatwork............. 136
OECDECONOMICSURVEYS:AUSTRIA©OECD2017 5
ThisSurveyispublishedontheresponsibilityoftheEconomicandDevelopment
ReviewCommittee(EDRC)oftheOECD,whichischargedwiththeexaminationofthe
economicsituationofmembercountries.
TheeconomicsituationandpoliciesofAustriawerereviewedbytheCommittee
on19June2017.Thedraftreportwasthenrevisedinthelightofthediscussionsand
givenfinalapprovalastheagreedreportofthewholeCommitteeon28June2017.
The Secretariat’s draft report was prepared for the Committee by Rauf Gönenç
andVolkerZiemann,withhelpfromVincenzoSpiezia(STI),underthesupervisionof
VincentKoen.KamranKazemzadeh(MinistryofFinance)andMichaelKraft(Federal
Chancellery), seconded to the OECD Secretariat, provided very valuable inputs.
ResearchassistancewasprovidedbyBéatriceGuérardandsecretarialassistanceby
SisseNielsenandMercedesBurgos.
ThisSurveyispublishedundertheresponsibilityoftheSecretary-Generalofthe
OECD.
ThepreviousSurveyofAustriawasissuedinJuly2015.
InformationaboutthelatestaswellaspreviousSurveysandmoreinformation
abouthowSurveysarepreparedisavailableatwww.oecd.org/eco/surveys.
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BASICSTATISTICSOFAUSTRIA,2016
(NumbersinparenthesesrefertotheOECDaverage)*
LAND,PEOPLEANDELECTORALCYCLE
Population(million) 8.6 Populationdensityperkm2 105.5 (37.2)
Under15(%) 14.3 (17.9) Lifeexpectancy(years,2014) 81.6 (80.6)
Over65(%) 18.9 (16.6) Men 79.2 (77.9)
Foreign-born(%,2014) 17.5 Women 84.0 (83.3)
Latest5-yearaveragegrowth(%) 0.4 (0.6) Latestgeneralelection(presidential) December2016
ECONOMY
Grossdomesticproduct(GDP) Valueaddedshares(%)
Incurrentprices(billionUSD) 386.4 Primarysector 1.3 (2.5)
Incurrentprices(billionEUR) 349.4 Industryincludingconstruction 28.1 (26.7)
Latest5-yearaveragerealgrowth(%) 1.1 (1.9) Services 70.7 (70.8)
Percapita(000USDPPP) 50.1 (42.1)
GENERALGOVERNMENT
PercentofGDP
Expenditurea 51.1 (40.9) Grossfinancialdebt(2015) 106.2 (109.0)
Revenue 49.5 (38.9) Netfinancialdebt(2015) 57.1 (70.0)
EXTERNALACCOUNTS
Exchangerate(EURperUSD) 0.904 Mainexports(%oftotalmerchandiseexports,2015)
PPPexchangerate(USA=1) 0.798 Machineryandtransportequipment 39.9
InpercentofGDP Manufacturedgoods 32.5
Exportsofgoodsandservices 52.1 (53.9) Chemicalsandrelatedproducts,n.e.s. 12.4
Importsofgoodsandservices 48.6 (49.4) Mainimports(%oftotalmerchandiseimports,2015)
Currentaccountbalance 1.7 (0.3) Machineryandtransportequipment 34.2
Netinternationalinvestmentposition 4.9 Manufacturedgoods 30.7
Chemicalsandrelatedproducts,n.e.s. 13.7
LABOURMARKET,SKILLSANDINNOVATION
Employmentratefor15-64year-olds(%) 71.6 (67.0) Unemploymentrate,LabourForceSurvey
(age15andover)(%) 6.0 (6.3)
Men 75.4 (74.7) Youth(age15-24,%) 11.2 (13.0)
Women 67.7 (59.3) Long-termunemployed(1yearandover,%) 1.9 (2.0)
Participationratefor15-64year-olds(%) 76.2 (71.7) Tertiaryeducationalattainment25-64year-olds(%,2015) 30.6 (35.0)
Averagehoursworkedperyear(2015) 1625 (1766) GrossdomesticexpenditureonR&D(%ofGDP)a 3.1 (2.4)
ENVIRONMENT(2015)
Totalprimaryenergysupplypercapita(toe) 3.8 (4.1) CO2emissionsfromfuelcombustionpercapita
(tonnes,2014) 7.1 (9.4)
Renewables(%) 29.2 (9.6) Municipalwastepercapita(tonnes) 0.6 (0.5)
Exposuretoairpollution(morethan10µg/m3
ofPM2.5,%ofpopulation) 86.5 (75.2)
SOCIETY
Incomeinequality(Ginicoefficient,2013) 0.280 (0.311) Educationoutcomes(PISAscore,2015)
Relativepovertyrate(%,2013) 9.0 (11.1) Reading 485 (493)
Mediandisposablehouseholdincome(000USDPPP,2013) 29.3 (22.0) Mathematics 497 (490)
Publicandprivatespending(%ofGDP) Science 495 (493)
Healthcare(2015) 10.4 (9.0) Shareofwomeninparliament(%) 30.6 (28.7)
Pensions(2013) 14.0 (9.1) Netofficialdevelopmentassistance(%ofGNI) 0.41 (0.39)
Education(primary,secondary,postsec.nontertiary,2013) 3.2 (3.7)
Betterlifeindex:www.oecdbetterlifeindex.org
**WheretheOECDaggregateisnotprovidedinthesourcedatabase,asimpleOECDaverageoflatestavailabledataiscalculatedwhere
dataexistforatleast29membercountries.
a) 2015fortheOECDaverage.
Source: Calculationsbasedondataextractedfromthedatabasesofthefollowingorganisations:OECD,InternationalEnergyAgency,
WorldBank,InternationalMonetaryFundandInter-ParliamentaryUnion.