UPSC Articles
Organisation for Economic Cooperation and Development
Part of: Prelims and GS-II International Relations
Context: Organisation for Economic Cooperation and Development has estimated that The Ukraine crisis could knock more than a percentage point off global growth this year and add two-and-a-half percentage points to inflation.
- It has called for targeted government spending increases in response.
- Well-targeted increases in government spending by OECD countries of the order of 0.5% of GDP could reduce the war’s economic impact by about half without significantly adding to inflation.
Organisation for Economic Cooperation and Development
- The OECD is an intergovernmental economic organisation, founded to stimulate economic progress and world trade.
- Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.
- Founded: 1961.
- Headquarters: Paris, France.
- Members: 38 countries
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- India is not a member, but a key economic partner.
- Reports and Indices by OECD
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- Government at a Glance 2017 report.
- International Migration Outlook.
- OECD Better Life Index.
News Source: TH
