The Organization for Economic Cooperation and Development (OECD) is a group of 34 member countries that discuss and develop economic and social policy. OECD members are democratic countries that support free market economies.

The OECD is called a “think tank” or monitoring group. Its stated goals include fostering economic development and cooperation; Fight against poverty; And the environmental impact of growth and social development is always taken into account. Over the years, it has been concerned with a number of issues, including raising living standards in member countries, contributing to the expansion of world trade, and promoting economic stability.

The OECD was established on December 14, 1960 by 18 European nations plus the United States and Canada. It has expanded over time to include members from South America and the Asia-Pacific region. Includes most highly developed economies.

In 1948, in the aftermath of World War II, the Organization for European Economic Cooperation (OEEC) was created to administer the Marshall Plan funded primarily by the United States for post-war reconstruction on the continent. The group emphasized the importance of working together for economic development, with the aim of avoiding more decades of European war. The OEEC was instrumental in helping the European Economic Community (EEC), which has since become part of the European Union (EU), to establish a European free trade area.

In 1961, the United States and Canada joined the OEEC, which changed its name to OECD to reflect the larger number of members. Fourteen other countries have since joined as of 2016. It is headquartered at the Château de la Muette in Paris, France.

The OECD publishes economic reports, statistical databases, analyzes and forecasts on the prospects for economic growth worldwide. The reports are global, regional or national in orientation. The group analyzes and reports on the impact of social policy issues such as gender discrimination on economic growth and makes policy recommendations designed to foster environmentally sensitive growth. The organization also seeks to eliminate bribery and other financial crimes around the world.

The OECD maintains a so-called “black list” of nations that are considered uncooperative tax havens. He led a two-year effort with the Group of 20 (G20) nations to encourage tax reform around the world and eliminate tax avoidance by profitable corporations. Recommendations presented at the end of the project included an estimate that such evasion costs the world’s economies between US$100 billion and US$240 billion in tax revenue per year. The group provides advice and assistance to Central and Eastern European nations implementing market-based economic reforms.