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What is the OECD?

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24th Nov 2009 by Tobias John Sterling

'OECD' stands for 'Organization for Economic Cooperation and Development'. The OECD is an international organization comprise of 30 countries who subscribe to beliefs in democracy and free market economics. Its goals concern sustainable economic growth, economic development and expansion, and an expansion of world trade. Most of the OECD members are high-income, developed nations such as France, the United States, Australia and South Korea (the current exceptions are Mexico, Turkey and Poland). The OECD is led by its Secretariat, which is located at the headquarters of the OECD in Paris. Aside from the Secretariat, the OECD has a council in which every member state is represented, and about 200 committees, each formed to advance ideas and to review progress within a specific policy area. The OECD doesn't focus solely on economic matters, but considers social and environmental issues as well. It is a forum where 'peer pressure' is often successful in bringing member nations into line in improving their policies.

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19th Nov 2009 In Economics 1 Answers | 554 Views

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