4417123
Description
Flashcards by Misch Heerr, updated more than 1 year ago
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Created by Misch Heerr
over 8 years ago
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| Question | Answer |
| Forms of protectionism | Tariffs, Quotas, Technical regulations, subsidies .... |
| Cost of protectionism | Reduces overall welfare. Unfair for other countries (destroying comparative advantage) |
| WTO 1. Goals: 2. Pillars: | Multilateral agreements are made. 1. Open markets, support free trade 2.1. GATT: Traded goods 2.2. GATS: Traded services 2.3. TRIPS: Intellectual property |
| IMF 1. Goals 2. Cost | 1. Support members in financial crisis 2.Contribution rate being paid Kind of an insurance-cost |
| World Bank Goals: | 1. Grants credits to development projects, 2. increase development, 3. enable private investments in development |
| OECD Goals: | 1. Increase free trade 2. Help development 3. create studies and recommendations |
| Trade liberalisation | Measures to encourage free trade, removal of tariffs and other trade barriers |
| Forms of trade liberalisation | 1. Multilateral (All countries) 2. Regional (geographically close countries) 3. Bilateral (between two countries) |
| Domestic Treatment | WTO principle, whereby domestic products can not be granted regulatory preference to products from other WTO member states. |
| Most Favoured Nation | Principle of the WTO, whereby the removal of a trade barrier in a member state is followed by the removal for all other WTO member states. |
| Integration: Free Trade Area | No Tariffs between members |
| Integration: Costums Union | No tariffs, common import tariffs |
| Integration: Common market | No tariffs, common import tariffs, mobility of production factors |
| Integration: Currency union | No tariffs, common import tariffs, mobility of production factors, common currency |
| Integration: Complete economic union | No Tariffs, common import tariffs, common currency, mobility of production factors, common economic policy |
| The four freedoms | Free trade of: Goods, services labour and capital |
| Pillars of the EU | 1. European Community, economic treaty 2. Common foreign and security policy 3. Justice and police cooperation |
| Pillars of the swiss trade policy | 1. Support market entry abroad (exports) 2. Support of entry in swiss market (import) 3. Supporting countries in integrate in world economy |
| development aid advantage: | Helping the poorest, building infrastructure, advancement of women |
| development aid disadvantages: | is needed where it doesn't work, people get dependent, failure of politics, not creating jobs IT ONLY WORKS WITH A GOOD GOVERNMENT! |
| Micro Loan | Giving a credit to the poorest, they start a business, pay 35% interest rate, start to develop firms. --> CREATING JOBS! |
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