A comprehensive record of all economic transactions between residents of a country and the rest of the world, including trade balance, foreign investments, and financial transfers.
An economic policy aimed at benefiting one country at the expense of others, often through measures like tariffs, quotas, or currency devaluation. Known as 'beggar-thy-neighbour' as well.
An in-depth examination of bilateral trade, its mechanisms, advantages, disadvantages, and its comparison with multilateral trade.
A comprehensive guide to bilateral trade agreements, including their history, types, key events, importance, and more.
Bilateral Transfer involves a reciprocal exchange where both parties provide something of value. This term is commonly seen in trade agreements between countries.
The BP Curve depicts the balance of payments equilibrium within the IS-LM model framework. It is crucial for understanding how gross domestic product and interest rates achieve an equilibrium in an open economy. This article covers its historical context, types, key events, mathematical models, and much more.
An in-depth look at the movement of capital between countries, encompassing foreign direct investment, shares, and loans, and its relevance to the balance of payments.
Exploring the concept of Competitive Devaluation, where nations engage in devaluing their currencies to improve their trade competitiveness. Delving into historical context, key events, economic models, and implications.
Counter-Trade is a form of international trade involving the exchange of goods and services between countries without the use of money. Examples include barter, counter-purchase, and buyback. It is particularly used in military sales and with countries lacking hard currency.
Currency Appreciation refers to a rise in the price of a country's currency in terms of foreign currency, affecting trade balance, inflation, and economic dynamics.
A comprehensive look at what a current account surplus is, its historical context, types, key events, explanations, models, importance, and applicability.
Devaluation is the official lowering of a country's currency value relative to foreign currencies within a pegged exchange rate regime, often to correct a balance of payment deficit.
An exploration of Drawing Rights in the context of the International Monetary Fund (IMF), including the historical development, types, key events, and its importance in global economics.
An in-depth exploration of economic unions, their types, key events, importance, applicability, and more, with a focus on the European Union as a primary example.
An in-depth look at Euromarkets, their historical context, key features, and importance in global finance.
Export Quotas involve the direct limitation on the quantity of goods that can be exported to another country, imposed by the exporting country to regulate trade balance, domestic supply, or international agreements.
Export-Led Growth (ELG) is a strategy where a country's economic growth is driven primarily by exporting goods and services. This strategy leverages competitive advantages and increases foreign income, fostering national economic expansion.
An in-depth exploration of Factor Endowment, its historical context, types, key events, mathematical models, and its importance in international economics.
Incomes received by residents of a country from activities carried out abroad, including remittances, profits, and interest.
Areas where goods may be imported, stored, and exported with reduced customs regulations. Goods may be handled, manufactured, or reconfigured, and re-exported without customs intervention.
A detailed exploration of Free-Trade Agreements, their historical context, types, key events, detailed explanations, and much more.
An in-depth exploration of FTAAP, a proposed free-trade area among APEC member economies.
Global Equity refers to the investment in companies listed on stock exchanges across multiple countries, providing a diverse and comprehensive approach to portfolio management and exposure to global economic growth.
The Heckscher-Ohlin Theorem posits that countries export goods that use their abundant and cheap factors of production, and import goods that require factors in short supply. This article explores the historical context, key events, detailed explanations, models, and importance of this theorem in the context of international economics.
The Heckscher-Ohlin Theory explains international trade patterns based on a country's factor endowments, predicting that nations will export goods that utilize their abundant resources.
A detailed overview of the International Monetary Fund, its purpose, functions, and impact on global economic growth and stability.
IMF Quotas are the capital subscriptions, or financial contributions, made by member countries to the International Monetary Fund. These quotas determine a country's financial commitment, voting power, and access to financing.
A comprehensive guide to understanding import quotas, including historical context, types, key events, detailed explanations, mathematical models, charts and diagrams, importance, applicability, examples, related terms, comparisons, interesting facts, famous quotes, FAQs, and references.
A detailed overview of import surcharges, their purpose, historical context, key events, applicability, and importance in global economics.
An import tariff is a tax imposed by a government on goods and services imported into the country, influencing the price and competitiveness of foreign products. This guide covers the historical context, types, key events, detailed explanations, models, and more.
Inter-Industry Trade involves the exchange of different types of goods between countries based on differences in factor endowments. It is characterized by the export of goods where countries have a relative advantage and the import of goods that are costly to produce domestically.
A stock measure reflecting the value of overseas assets owned by a nation minus the value of domestic assets owned by foreigners, providing insights into a country's financial relationships with the rest of the world.
Intra-Industry Trade involves the simultaneous import and export of goods within the same classification, driven by factors like product differentiation and scale economies.
An in-depth exploration of the invisible balance, which accounts for the trade of services like transport, tourism, and consultancy, and its impact on the economy.
An observation in international trade that contradicts the Heckscher-Ohlin theory, suggesting that a country does not always export goods that use its abundant factors intensively.
The Leontief Paradox observes that the US, despite being the world's most capital-rich country, had exports that were labor-intensive rather than capital-intensive, challenging the Heckscher-Ohlin model of international trade.
An in-depth look into the Most-Favored-Nation (MFN) principle, a key concept in international trade ensuring non-discriminatory treatment among World Trade Organization (WTO) members.
Non-Tariff Barriers (NTBs) are various forms of trade restrictions that do not involve tariffs, aiming to impose limitations or controls on imports and exports to protect domestic industries or achieve other policy objectives.
An economy engaged in transactions with the rest of the world, encompassing trade in goods and services, capital movements, information transfer, technical know-how, and labor migration.
An in-depth exploration of Preferential Trade Agreements (PTAs), which involve granting trade advantages to select countries, often creating exceptions within the broader Most Favored Nation (MFN) rules.
A comprehensive guide to understanding prohibitive tariffs, their impact on international trade, and their historical and modern-day applications.
A detailed explanation of the quota system used by the International Monetary Fund (IMF), including historical context, types, key events, and implications.
The portion of a member country's required quota that can be accessed without conditions, within the International Monetary Fund (IMF) framework.
The Rybczynski Theorem examines the effects of an increase in one factor of production in a two-good, two-factor economy, leading to a rise in the output of the good intensive in the increased factor and a reduction in the output of the other good.
A provision in the original rules of the International Monetary Fund (IMF), aimed at addressing potential shortages of a particular currency, the Scarce Currency Clause allowed member countries to discriminate against the country's goods in their trade policies.
The Smithsonian Agreement was an international accord reached in 1971 aimed at restoring a Bretton Woods-style system of pegged exchange rates. The agreement, named after the Smithsonian Institute in Washington, DC, where it was signed, sought to stabilize international currencies but lasted only a few months.
The Stolper-Samuelson Theorem explains the relationship between factor prices and output prices, predicting that trade liberalization benefits the abundant factor and harms the scarce factor.
Detailed exploration of tariffs, including their definition, types, historical context, and economic implications.
Goods and services that can be traded across international borders, even if not always traded. Understanding the dynamics of tradable items in the context of global economics and trade.
Exploring the concept of under-valued currency, its historical context, economic impacts, and key considerations for global trade and finance.
A detailed exploration of Voluntary Export Restraint (VER), its historical context, types, key events, implications, and more.
An economic concept that describes the ability of a producer to produce a good using fewer resources than any other producer.
A detailed examination of the Balance of Payments (BOP) system of recording all economic transactions between residents of a country and the rest of the world within a given time period, encompassing the current, capital, and official reserves accounts.
An in-depth look at the Dollar Drain phenomenon and its significance in international trade and economics. Understanding how imports and exports affect a country's dollar reserves.
Foreign Investment involves the investment by citizens or governments of one country into industries of another country, or within a country by foreigners, including the implications of income tax treatment governed by tax treaties.
The Foreign Trade Multiplier is a measure in economics that quantifies the increase in a country's Gross Domestic Product (GDP) resulting from the efficiencies and activities associated with foreign trade.
An in-depth look at the term 'Import,' its definitions, historical context, practical applications, and significance in various fields such as economics, information technology, and data management.
Explore the International Monetary Fund (IMF), its structure, roles, and impacts on the global economy. Understand its history, applications, and relevance in the 21st century.
An in-depth analysis of tariff wars, their components, history, economic impact, and strategic implications.
Learn about the Comorian Franc (KMF), its historical context, current value, and significance to the island nation of Comoros.
An in-depth examination of the financial account as a component of a country’s balance of payments, exploring its definition, components, and implications for asset ownership.
A comprehensive exploration of foreign exchange reserves, detailing their definition, purpose, types, historical context, and relevance in global economics.
Comprehensive guide to Foreign Investment, including its definition, how it works, different types, historical context, and practical examples. Learn about the mechanisms of capital flows between nations, ownership stakes in domestic companies, and the economic impact.
An in-depth exploration of the Home Market Effect, including its definition, theoretical framework, real-world applications, and economic implications.
An in-depth exploration of Nominal Effective Exchange Rate (NEER), its calculation methods, practical uses, historical context, and significance in the global economy.
A comprehensive guide on protectionism, exploring its various types, significant examples, and the impacts of trade protection measures on domestic and international economies.
Explore the concept of Relative Purchasing Power Parity (RPPP) in economics, focusing on how inflation differences between two countries influence their exchange rate. Learn about the theory, its applications, and historical context.
A comprehensive guide to tariffs, exploring their significance, types, effects on global trade, and related economic concepts.
