Organization for Economic Co-operation and Development (OECD)
International body setting policies on economic, tax, and social issues.
Detailed Description
Organization for Economic Co-operation and Development (OECD)
What is the main purpose of the OECD?
The primary purpose of the OECD is to promote policies that enhance economic growth, stability, and social progress among its member countries.
When was the OECD established?
The OECD was established in 1961, evolving from the Organization for European Economic Co-operation (OEEC) created in 1948.
How many member countries are currently in the OECD?
The OECD currently comprises 38 member countries.
What are some key functions of the OECD?
The OECD performs key functions such as data collection, analysis, peer reviews, and developing guidelines on various economic issues.
What challenges does the OECD face?
The OECD faces criticism for focusing on developed countries, the voluntary nature of compliance, and adapting to rapid changes in the global economy.