GNU Emacs Lisp Reference Manual
The global value of a variable with buffer-local bindings is also called the default value, because it is the value that is in effect except when specifically overridden.
The functions default-value and setq-default access and change a variable's default value regardless of whether the current buffer has a buffer-local binding. For example, you could use setq-default to change the default setting of paragraph-start for most buffers; and this would work even when you are in a C or Lisp mode buffer that has a buffer-local value for this variable.
The special forms defvar and defconst also set the default value (if they set the variable at all), rather than any local value.
symbol-value (see Accessing Variables).default-boundp tells you whether symbol's default value is nonvoid. If (default-boundp 'foo) returns nil, then (default-value 'foo) would get an error. default-boundp is to default-value as boundp is to symbol-value.
setq-default form is value. If a symbol is not buffer-local for the current buffer, and is not marked automatically buffer-local, setq-default has the same effect as setq. If symbol is buffer-local for the current buffer, then this changes the value that other buffers will see (as long as they don't have a buffer-local value), but not the value that the current buffer sees.
;; In buffer `foo': (make-local-variable 'local) => local (setq local 'value-in-foo) => value-in-foo (setq-default local 'new-default) => new-default local => value-in-foo (default-value 'local) => new-default ;; In (the new) buffer `bar': local => new-default (default-value 'local) => new-default (setq local 'another-default) => another-default (default-value 'local) => another-default ;; Back in buffer `foo': local => value-in-foo (default-value 'local) => another-default
setq-default, except that symbol is evaluated. (set-default (car '(a b c)) 23)
=> 23
(default-value 'a)
=> 23