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A set of economic practices and reforms deemed by international financial institutions (located in Washington, D. C. ) to be helpful for financial stability and economic development; often imposed as conditions for economic assistance by these institutions. Phrase coined by John Williamson (1990).
Industry:Economy
1. The extent to which a tariff is higher than necessary to be prohibitive. 2. The extent to which an applied tariff is below the bound tariff.
Industry:Economy
A basis, usually quantitative, for judging whether one state of the world or of an economy is better than another, for use in welfare economics and in evaluation of policies.
Industry:Economy
A set of government programs that attempt to provide economic security for the population by providing for people when they are unemployed, ill, or elderly.
Industry:Economy
A tax on income that is levied at the source, thus diverted to the government before the recipient of the income ever sees it. Used in international tax treaties to assist tax collection.
Industry:Economy
A group that is delegated to study an issue. Used by the WTO as a first step in considering a new issue that may later become the subject of negotiations.
Industry:Economy
A group of five closely associated international institutions providing loans and other development assistance to developing countries. The five institutions are IBRD, IDA, IFC, MIGA, and ICSID. As of July 2010, the largest of these, IBRD, had 187 member countries.
Industry:Economy
A self-described "independent, international organization incorporated as a Swiss not-for-profit foundation" that brings together leaders from business, government, academia, and civil society to seek solutions to the world's economic problems.
Industry:Economy
A global international organization that specifies and enforces rules for the conduct of international trade policies and serves as a forum for negotiations to reduce barriers to trade. Formed in 1995 as the successor to the GATT, it had 153 member countries as of July 2010.
Industry:Economy
A group of currencies, if it exists, whose values are tied more to the Japanese yen than to the US dollar.
Industry:Economy
