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Concept
OECD
Summary
The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental organisation with 38 Member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum whose member countries describe 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.
The majority of OECD Members are high-income economies ranked as "very high" in the Human Development Index, and are regarded as developed countries. Their collective population is 1.38 billion. , OECD Member countries collectively comprised 62.2% of global nominal GDP (US54.2 trillion) at purchasing power parity. The OECD is an official United Nations observer.
In April 1948, the Organisation for European Economic Co-operation (OEEC) was established to help administer the Marshall Plan, which was rejected by both the Soviet Union and its satellite states. This would be achieved by allocating the United States' financial aid and implementing economic programs for the reconstruction of Europe after World War II. Only Western European states were members of the OEEC. Its Secretaries-General were the Frenchmen Robert Marjolin (1948–1955) and René Sergent (1955–1960). On 14 December 1960, the OEEC was reformed into the Organisation for Economic Co-operation and Development, which came into force in late September 1961, and the membership was extended to non-European states, the first of which were the United States and Canada.
The OECD's headquarters are at the Château de la Muette in Paris, France. The OECD is funded by contributions from Member countries at varying rates and had a total budget of € 338.3 million in 2023, and is recognised as a highly influential publisher of mostly economic data through publications as well as annual evaluations and rankings of Member countries.
Official source
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