OECD: developing countries need to adapt policy as wages rise in their nations

6 Oct 17

Developing countries need to adapt national and international policies to cope with the rising wages in their nations, OECD members have said.  

Policy makers in developing economies are confronted with new challenges and complex decisions as income levels rise, the OECD development centre governing board concluded at a meeting in Paris on Tuesday.  

They needed to find ways to cope with the “new challenges and demands from an emerging middle-classes” as they continue to try to balance their economic, social and environmental agendas, the board found. 

Officials from 52 countries, international organisations and civil society representatives met to discuss the opportunities and challenges faced by countries “transitioning” to higher income levels, the consequences of international migration for developing countries and the drivers of gender inequality. 

“New partnerships, more dialogue, better measurements and more innovative tools will all be necessary for a sustained transition,” said Mario Pezzini, OECD development centre’s director and special advisor of the OECD secretary general on development, in a statement issued on Tuesday. 

“Our priority now is to translate ‘development in transition’ into ‘development in action’, which expands opportunities for all countries and people.” 

The board called for a broad set of development and well-being indicators, beyond income-based metrics, to better assess progress and needs of countries at different levels of development.

They also noted the importance of adapting international cooperation to current development realities, to sustain successful development trajectories.

The participants agreed to provide tools to measure development through the launch of a new open platform, with the aim to exchange knowledge and best practice, and develop concrete proposals. 

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