Economic and Development Review Committee (EDRC) Mr. Svein Gjedrem

1. What is the mission and mandate of your Committee?

The mission of the EDRC is "to improve the economic performance of Members and non-Members on a sustainable basis by promoting a better understanding of their key economic challenges and to help strengthen their economic policies."

2. You have been designated Committee Chair. What is your background and what has convinced you to take up this post? How do you consider your background and experience contribute to such a role and function?

I have been Governor of the Central Bank in Norway (Norges Bank) for 12 years and also served for a number of years as a civil servant at the Ministry of Finance, as well as as Permanent Secretary in the latter over two periods. I have participated in international cooperation within and beyond international multinational organisations. I participated in my first OECD meeting back in 1979, and have followed developments in the Organisation since then.

3. What is your main priority as Chair?

My main priority is to help bring forward the best economic analysis and advice to the countries that the knowledge and experience of the Committee and its Secretariat can provide.

4. How would you define the added value of your Committee in relation to the work of the OECD in an international context? How does it differ from other international fora dealing with the same topic?

The Committee and the Secretariat have broad insight into macroeconomic analysis and policies. Organisations like the IMF and BIS have the same staff. What is really different is the OECD and the EDRC focus on structural policies, structural reforms and broader measures relating to people’s wellbeing.

5. Are you facing any specific major challenge derived from the current multilateral environment?

Yes, we have frank and open discussions in the Committee, for example on trade policies, currentaccount developments and the balance between fiscal and monetary policies

6. How do you encourage, and ensure national experts engage productively in the work of your Committee?

The Secretariat approaches both official and independent experts in their preparations for the Committee Meetings and their work on the surveys. Government representatives and experts participate at the meetings and bring forward their views on the draft Economic Surveys.

7. How do you help maximise policy coherence through the work of the Committee?

We try to be consistent in our analysis and advice on economic policies over time and between countries.

8. How do you ensure effective decisionmaking by the Committee?

My "instruments" are to chair meetings and draw conclusions from discussions. Efficiency, transparency and equal treatment of the Members of the Committee are very important.

9. Could you mention the most important documents/reports that the Committee/Group has issued in the last 2 years? Why are these important, and what has been their impact?

The products of the EDRC are Economic Surveys of OECD Members and non-Members. They are all important, and it is difficult to rank them.

10. How can you encourage synergies between policy communities?

Representatives from the IMF, BIS and the EU Commission participate in the meetings. In addition, there is obviously a close relationship between experts from the OECD Secretariat and from other organisations.

11. How do you see the role played by the Secretariat?

The good work of the Committee would not be possible without preparatory work and professional contributions on the part of the staff of the OECD Secretariat. They have accumulated expertise on a broad menu of economic issues over the years. The overview and knowledge in macroeconomic issues are maintained, but in addition the staff are also able to bring forward research and Policy Recommendations on a wide range of structural issues. The Committee’s task is to tap into this knowledge as advice is given to individual countries.

12. In relation to the standard-setting role, what do you suggest to maintain the relevance and impact of OECD standards over time? Which areas need strengthening?

The quality of the OECD experts and country representatives is definitely the key. In addition, I think it is important that account be taken of the fact that the Committee is not a "think tank". Since Committee Members are representatives of Member States, we like to view the process and the conclusions as a peer review of economic policies and developments in the individual countries. Furthermore, we review current policies and put forward practical policy advice. The discussions in the Committee are frank, but proposals should have some resonance in the country and in the Ministries that are supposed to implement them. The dialogue between the Committee, the Secretariat and officials from the examined country is important in achieving this goal.

13. How have you ensured a contribution of your actions or influence to continuous improvement within the Organisation?

I focus on the work of the Committee. I try to engage its Members in an open, frank and efficient discussion that achieves high professional standards and reaches sound and workable policy conclusions.

14. What are the practical implications of the work of your Committee/Group?

The Committee is responsible for the Economic Surveys of Members and non-Member countries. We believe firmly that the advice the Committee has to offer - based on the work of the Secretariat - has improved the economic policies pursued by many countries.

15. What would be your key advice for a person taking up the post of Chair of an OECD Committee/Group?

Be open and frank, and offer equal opportunities to all Members to contribute and be