OECD

The Organisation for Economic Co-operation and Development (OECD; French: Organisation de coopération et de développement économiques, OCDE) is an intergovernmental organization with 38 member countries,[1] founded in 1961 to stimulate economic progress and world trade. It is a forum. The members are countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices and coordinate domestic and international policies of its members.

Organisation for Economic Co-operation and Development
Organisation de coopération et de développement économiques
  Founding member countries (1961)
  Other member countries
Abbreviation
  • OECD
  • OCDE
Established
  • 16 April 1948 (1948-04-16) (as OEEC)
  • September 1961 (1961-09) (as OECD)
TypeIntergovernmental organisation
HeadquartersChâteau de la Muette
Paris, France
Membership
Official languages
  • English
  • French
Mathias Cormann
Deputy Secretaries-General
Budget
€386 million (2019)[3]
Websitewww.oecd.org

The majority of OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries. Their collective population is 1.3 billion[4]. As of 2017, the OECD member countries collectively comprised 62.2% of global nominal GDP (US$49.6 trillion)[5] and 42.8% of global GDP (Int$54.2 trillion) at purchasing power parity.[6] The OECD is an official United Nations observer.[7]

In 1948, the Organisation for European Economic Co-operation (OEEC),[8] led by French economist and politician Robert Marjolin, was established to help administer the Marshall Plan, which was rejected by both the Soviet Union and its satellite states.[9] This would be achieved by allocating United States financial aid and implementing economic programs for the reconstruction of Europe after World War II.[10] In 1961, the OEEC was reformed into the Organisation for Economic Co-operation and Development and membership was extended to non-European states.[11][12]

The OECD's headquarters are at the Château de la Muette in Paris, France.[13] The OECD is funded by contributions from member countries at varying rates and had a total budget of €386 million in 2019.[3]

The OECD is recognised as a highly influential publisher of mostly economic data through publications as well as annual evaluations and rankings of member countries.[14]


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