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1. In the context of trade policy, this refers to policies such as tariffs and quotas that enhance profits and employment in a domestic industry, as opposed to other policies such as production subsidies that might have similar effects without restricting trade. 2. Measures to prevent unwanted entry across a nation's border of illegal or harmful goods or people.
Industry:Economy
Acronym for four large low-income countries, Brazil, Russia, India, and China, that were growing rapidly in the early years of the 21st century. Term was coined by researchers at Goldman Sachs in 2003, reflecting their expectation that the BRICs would eventually dominate the world economy.
Industry:Economy
A town in New Hampshire at which a 1944 conference launched the IMF and the World Bank. These, along with the GATT/WTO became known as the Bretton Woods Institutions, and together they comprise the Bretton Woods System.
Industry:Economy
A payment made to person, often a government official such as a customs officer, to induce favorable treatment.
Industry:Economy
A rise in the price of an asset based not on the current or prospective income that it provides but solely on expectations by market participants that the price will rise in the future. When those expectations cease, the bubble bursts and the price falls rapidly.
Industry:Economy
1. For an individual or household, the condition that income equals expenditure (in a static model), or that income minus expenditure equals the value of increased asset holdings (in a dynamic model). 2. For a country, the condition that the value of exports equals the value of imports or, if capital flows are permitted, that exports minus imports equals the net capital outflow. It is equivalent to income from production equaling expenditure on goods plus net acquisition of foreign assets. 3. The curve, usually a straight line, representing either of these conditions.
Industry:Economy
A large quantity of a commodity held in storage to be used to stabilize the commodity's price. This is done by buying when the price is low and adding to the buffer stock, selling out of the buffer stock when the price is high, hoping to reduce the size of price fluctuations. See international commodity agreement.
Industry:Economy
A US law enacted in 2000 requiring that revenues from anti-dumping duties and countervailing duties be given to the US domestic producers who had filed the cases.
Industry:Economy
1. Navigation and trade by ship along a coast, especially between ports within a country. Restricted in the U. S. By the Jones Act to domestic shipping companies. 2. Air transportation within a country. Often restricted to domestic carriers, in an example of barriers to trade in services.
Industry:Economy
