Glossary: Organisation for Economic Co- operation and Development (OECD)
DEFINITION:
Established in 1961 to replace the Organisation for European Economic Co-operation (OEEC), the OECD is an international organization composed of the industrialized market economy countries (twenty-four full members as of 1993). The OECD seeks to promote economic and social welfare in member countries, as well as in developing countries, by providing a forum in which to establish and coordinate policies.