Organisation for Economic Co-operation and Development in the context of "Circular flow of income"

⭐ In the context of the circular flow of income, the Organisation for Economic Co-operation and Development (OECD) played a key role in…

Ad spacer

⭐ Core Definition: Organisation for Economic Co-operation and Development

The Organisation for Economic Co-operation and Development (OECD; French: Organisation de coopération et de développement économiques, OCDE) is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum whose member countries describe themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and coordinate domestic and international policies of its members.

The majority of OECD members are generally regarded as developed countries, with high-income economies, and a very high Human Development Index.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<

👉 Organisation for Economic Co-operation and Development in the context of Circular flow of income

The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. between economic agents. The flows of money and goods exchanged in a closed circuit correspond in value, but run in the opposite direction. The circular flow analysis is the basis of national accounts and hence of macroeconomics.

The idea of the circular flow was already present in the work of Richard Cantillon. François Quesnay developed and visualized this concept in the so-called Tableau économique. Important developments of Quesnay's tableau were Karl Marx's reproduction schemes in the second volume of Capital: Critique of Political Economy, and John Maynard Keynes' General Theory of Employment, Interest and Money. Richard Stone further developed the concept for the United Nations (UN) and the Organisation for Economic Co-operation and Development to the system, which is now used internationally.

↓ Explore More Topics
In this Dossier

Organisation for Economic Co-operation and Development in the context of List of cities and towns in Albania

This is a list of cities and towns in Albania categorised by municipality, county and population, according to the criteria used by the Institute of Statistics (INSTAT). As of 2014, there were 74 cities classified as urban areas and 2,972 villages as rural areas in Albania. The legislation of Albania provides no official classification on the criteria of how to define a city or urban area. Furthermore, according to the methodology for cities conducted by the Organisation for Economic Co-operation and Development (OECD), five areas, including Tirana, Durrës, Elbasan, Shkodër and Vlorë, can be classified as urban audit cities.

↑ Return to Menu

Organisation for Economic Co-operation and Development in the context of Demographics of Istanbul

Throughout most of its history, Istanbul has ranked among the largest cities in the world. By 500 CE, Constantinople had somewhere between 400,000 and 500,000 people, edging out its predecessor, Rome, for world's largest city. Constantinople jostled with other major historical cities, such as Baghdad, Chang'an, Kaifeng and Merv for the position of world's most populous city until the 12th century. It never returned to being the world's largest, but remained Europe's largest city from 1500 to 1750, when it was surpassed by London.

The Turkish Statistical Institute estimates that the population of Istanbul Metropolitan Municipality was 15,701,602 at the end of 2024, hosting 18 percent of the country's population. Then about 97–98% of the inhabitants of the metropolitan municipality were within city limits, up from 89% in 2007 and 61% in 1980. 64.9% of the residents live on the European side and 35.1% on the Asian side. While the city ranks as the world's 5th-largest city proper, it drops to the 24th place as an urban area and to the 18th place as a metro area because the city limits are roughly equivalent to the agglomeration. Today, it forms one of the largest urban agglomerations in Europe, alongside Moscow. The city's annual population growth of 3.45 percent ranks as the highest among the seventy-eight largest metropolises in the Organisation for Economic Co-operation and Development. The high population growth mirrors an urbanization trend across the country, as the second and third fastest-growing OECD metropolises are the Turkish cities of İzmir and Ankara.

↑ Return to Menu

Organisation for Economic Co-operation and Development in the context of Official statistics

Official statistics are statistics published by government agencies or other public bodies such as international organizations as a public good. They provide quantitative or qualitative information on all major areas of citizens' lives, such as economic and social development, living conditions, health, education, and the environment.

During the 15th and 16th centuries, statistics were a method for counting and listing populations and State resources. The term statistics comes from the Neo-Latin statisticum collegium (council of state) and refers to science of the state. According to the Organisation for Economic Co-operation and Development (OECD), official statistics are statistics disseminated by the national statistical system, excepting those that are explicitly not to be official".

↑ Return to Menu

Organisation for Economic Co-operation and Development in the context of Global Financial Centres Index

The Global Financial Centres Index (GFCI) ranks the competitiveness of financial centres based on over 29,000 assessments from an online questionnaire and over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the Economist Intelligence Unit. It was first published in March 2007. It has been jointly published twice per year by the London-based think tank Z/Yen and the China Development Institute since 2015. It is widely quoted as a top source for ranking financial centres.

↑ Return to Menu

Organisation for Economic Co-operation and Development in the context of Non-formal education

Non-formal learning includes various structured learning situations which do not either have the level of curriculum, institutionalization, accreditation or certification associated with 'formal learning', but have more structure than that associated with 'informal learning', which typically take place naturally and spontaneously as part of other activities. These form the three styles of learning recognised and supported by the OECD.

Examples of non-formal learning include swimming sessions for toddlers, community-based sports programs, and programs developed by organisations such as the Boy Scouts, the Girl Guides, community or non-credit adult education courses, sports or fitness programs, professional conference style seminars, and continuing professional development. The learner's objectives may be to increase skills and knowledge, as well as to experience the emotional rewards associated with increased love for a subject or increased passion for learning.

↑ Return to Menu

Organisation for Economic Co-operation and Development in the context of Arm's length principle

The arm's length principle (ALP) is the condition or the fact that the parties of a transaction are independent and on an equal footing. Such a transaction is known as an "arm's-length transaction". It is used specifically in contract law to arrange an agreement that will stand up to legal scrutiny, even though the parties may have shared interests (e.g., employer-employee) or are too closely related to be seen as completely independent (e.g., the parties have familial ties).

An arm's length relationship is distinguished from a fiduciary relationship, where the parties are not on an equal footing, but rather, power and information asymmetries exist. It is also one of the key elements in international taxation as it allows an adequate allocation of profit taxation rights among countries that conclude double tax conventions, through transfer pricing, among each other. Transfer pricing and the arm's length principle were one of the focal points of the base erosion and profit shifting (BEPS) model developed by the OECD and endorsed by the G20.

↑ Return to Menu

Organisation for Economic Co-operation and Development in the context of Influence peddling

Influence peddling, also called traffic of influence or trading in influence, is the practice of using one's influence in government or connections with authorities to obtain favours or preferential treatment for another, usually in return for payment. Influence peddling per se is not necessarily illegal, as the Organisation for Economic Co-operation and Development (OECD) has often used the modified term "undue influence peddling" to refer to illegal acts of lobbying; however, influence peddling is typically associated with corruption and may therefore delegitimise democratic politics with the general public. It is punishable as a crime in Argentina, Belgium, Bulgaria, Brazil, France, Hungary, Italy, Lithuania, Mexico, Portugal, Romania, Spain, and the United Kingdom.

↑ Return to Menu

Organisation for Economic Co-operation and Development in the context of Polluter pays principle

In environmental law, the polluter pays principle is enacted to make the party responsible for producing pollution responsible for paying for the damage done to the natural environment. This principle has also been used to put the costs of pollution prevention on the polluter.  It is regarded as a regional custom because of the strong support it has received in most Organisation for Economic Co-operation and Development (OECD) and European Union countries, and has a strong scientific basis in economics. It is a fundamental principle in US environmental law.

↑ Return to Menu