Organisation for Economic Co-operation and Development (OECD)

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Definition of 'Organisation for Economic Co-operation and Development (OECD)'

The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation of 38 countries, founded in 1961 to stimulate economic progress and world trade. It is a forum of countries committed to democracy and market economies. The OECD provides a platform for governments to compare policy experiences, identify good practices, and develop joint solutions to common challenges.

The OECD has a wide range of activities, including:

* Promoting economic growth, employment, and financial stability
* Improving the efficiency of public services
* Fostering trade and investment
* Promoting sustainable development
* Improving the quality of life for citizens

The OECD is headquartered in Paris, France. It has a staff of over 2,500 people from all over the world.

The OECD is a respected source of economic data and analysis. It publishes a wide range of reports and statistics, including the OECD Economic Outlook, the OECD Employment Outlook, and the OECD Development Report.

The OECD also plays a role in international policy development. It is a member of the G20, the Group of Twenty, which is a forum of the world's major economies. The OECD also participates in the United Nations Economic and Social Council.

The OECD is a valuable resource for governments, businesses, and individuals around the world. It provides information and analysis that can help to improve economic performance and promote social progress.

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