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Organisation For Economic Cooperation And Development

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Chapter Summary

It was in early 1960 that the Marshall Plan for the reconstruction of Europe had completed its role and the Organisation for Economic Cooperation and Development (OECD) succeeded the Organisation for European Economic Cooperation (OEEC). Growing in its membership over the years, the OECD now comprises 30 countries. The formal organizational structure of the OECD is laid down in Articles 7-11 of the Convention on the OECD, adopted on 14 December 1960. The main organs of the body are the council, the executive committee, subsidiary bodies, a secretary-general, and a secretariat. The OECD is completely financed by its member countries and has no income source of its own. Described as "the quintessential host of transgovernmental regulatory networks, as well as a catalyst for their creation", the OECD covers in its ways of working all modes of rule-making in transnational economic governance.

Keywords: executive committee; Organisation for Economic Cooperation andDevelopment (OECD); Organisation for European Economic Cooperation (OEEC); transnational economic governance

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