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The Organization for Economic Cooperation and Development

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Publication Date: January 2009

Publisher(s): Library of Congress. Congressional Research Service

Series: RS21128

Topic: Economics (Economic relations)

Abstract:

The Organization for Economic Cooperation and Development (OECD) is an intergovernmental economic organization in which the 30 member countries discuss, develop and analyze economic and social policy. While all of the member countries are considered to be economically advanced and collectively produce two-thirds of the world's goods and services, membership is limited only by a country's commitment to a market economy and a pluralistic democracy. The member countries rely on the OECD Secretariat in Paris to collect data, monitor trends, analyze and forecast economic developments, research social changes and patterns in trade, environment, agriculture, technology, taxation and other areas to inform their discussions and to assist them in pursuing their efforts to develop common policies and practices.

The U.S. has sparred periodically with other OECD member countries over various issues, including U.S. antidumping laws. The OECD Members recently selected Angel Gurria of Mexico to serve as the next Secretary General, who began his term in May 2006. Key issues for Congress include OECD work on coordinating national approaches to curtailing bribery and the illicit use of tax havens. The Bush Administration proposed appropriating $92 million to the OECD in FY2007, an 8% increase from the $85 million appropriated in the FY2006 budget. This report will be updated as events warrant.