By Alan T . Bull Geoffrey Holt Malcolm D . Lilly Organisation for Economic Co – Operation and Development

2 The Organisation for Economic Co–operation and Development (OECD) was set up under a Convention signed in Paris on 14th December 1960, which provides that the OECD shall promote policies designed: − to achieve the highest sustainable growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; − to contribute to sound economic expansion in Member as well as non–member countries in the process of economic development; and − to contribute to the expansion of world trade on a multilateral, non–discriminatory basis in accordance with international obligations. The opinions expressed and arguments employed in this publication are the responsibility of the authors and do not necessarily represent those of the OECD.