KYO (Know Your Organization) -OECD The Organization for Economic Co- operation and Development (OECD) is an international economic organization of 34 countries founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members. The OECD originated in 1948 as the Organization for European Economic Co-operation (OEEC), led by Robert Marjolin of France, to help administer the Marshall Plan (which was rejected by the Soviet Union and its satellite states). This would be achieved by allocating American financial aid and implementing economic programs for the reconstruction of Europe after World War II, where there had been similar efforts in the Economic Cooperation Act of 1948 of the United States of America, which stipulated the Marshall Plan that had also taken place elsewhere in the world to war-torn Republic of China and post-war Korea,but the American recovery program in Europe was the most successful one. In 1961, the OEEC was reformed into the Organization for Economic Co-operation and Development by the Convention on the Organization for Economic Co-operation and Development and membership was extended to non-European states. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries. The OECDs headquarters are at the Château de la Muette in Paris, France.
Posted on: Fri, 19 Dec 2014 09:50:25 +0000
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