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( Organisation for Economic Co-operation and Development)
The Organisation for Economic Co-operation and Development (OECD) (in French Organisation de coopération et de développement économiques, OCDE) is an international organisation of thirty countries that accept the principles of representative democracy and free-market economy. Most OECD members are high-income economies with a high HDI and are regarded as developed countries. It originated in 1948 as the Organisation for European Economic Co-operation (OEEC), led by Robert Marjolin of France, to help administer the Marshall Plan for the reconstruction of Europe after World War II. Later, its membership was extended to non-European states. In 1961, it was reformed into the Organisation for Economic Co-operation and Development by the Convention on the Organisation for Economic Co-operation and Development. The OECD's headquarters are at the Château de la Muette in Paris. A setting in which governments can compare policy experiences, seek answers to common problems, identify good practices, and co-ordinate domestic and international policies. The mandate of the OECD is broad, covering economic, environmental, and social issues. It is a forum where peer pressure can act as a powerful incentive to improve policy and implement "soft law" — non-binding instruments that can occasionally lead to binding treaties.
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