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OECD and the Korean Economy

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Frame of Image ment to twenty nine today including Korea. The function has also expanded to include the contribution to world economic development, economic aid to developing countries and the expansion of free trade as well as economic growth among member countries. Now, as the share of member countries' GDP is more than 80% of the world economy, the OECD is playing a leading role in forming a new world economic order.
Nature
The OECD has a few characteristic features which distinguish it from other international organizations. First, the OECD is not an organization for trade negotiation but rather a forum for policy dialogue and exchange of information and experience that covers almost every area of economic and social policy making. Members discuss various issues of trade, investment, taxation, macroeconomic policies, environment, agriculture, science and technology, health and education. In this respect, the OECD is different from the WTO, which focuses on negotiations over market opening, trade liberalization and international dispute settlement. The OECD normally derives its conclusions from policy discussions, based on consensus rather than voting. Although member countries can be temporarily exempt from the application of rules, decisions and
recommendations of the OECD, peer pressure may push countries in the right direction as a whole. The second distinguishable feature of the OECD is the comprehensiveness of issues
with which it deals. Other international organizations, such as t


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Title OECD and the Korean Economy
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Material Type Reports
Author(English)

Cho, Yong-Kyun

Publisher

[Seoul]:The Institute of Foreign Affairs and National Security

Date 1997-02
Journal Title; Vol./Issue IFANS Review:vol.5(no.1)
Pages 49
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Holding IFANS; KDI School