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Organization for Economic Co-operation and Development (OECD)
Practical Law Glossary Item 6-501-9440 (Approx. 2 pages)
Glossary
Organization for Economic Co-operation and Development (OECD)
Established in 1961, the OECD is an organization of developed countries formed to promote the economic health of its members. The mission of the OECD is to bring together the governments of countries committed to democracy and the market economy to:
- Support sustainable economic growth.
- Boost employment.
- Raise living standards.
- Maintain financial stability.
- Assist other countries' economic development.
- Contribute to growth in world trade.
The OECD consists of 30 countries of which 27 are considered high income and three are middle income (Poland, Turkey and Mexico). The 27 High-income countries include France, Japan, the UK, the US, New Zealand and the Czech Republic.