The report looks at structural reforms in policy areas that have been identified as priorities to lift growth in OECD and selected non-OECD countries. The selection of priorities is supported by a database of internationally comparable indicators that enable countries to assess their economic performance and structural policies in a wide range of areas, and a newly developed policy prioritisation model.

Details on the priorities to be addressed across countries covered can be found in the individual country notes, including Australia.

Revisiting the foundations of growth has become increasingly relevant over the past two decades, as potential growth has declined significantly in many countries (and across the OECD), driven by a sharp slowdown in labour productivity growth. This trend has coincided with a decline in structural reform momentum.

The report identifies structural reform priorities that can be organised into three key policy areas: 

1. enabling factors: including human capital, governance, infrastructure and macroeconomic policy
2. market incentives and allocative efficiency: spanning taxation, product and labour market regulation, trade and Foreign Direct Investment.
3. targeted and sectoral measures: including innovation and energy security support.