Library: Globalization by Credo Reference: Economics

International Blocs and Organizations

Asia Pacific Economic Cooperation
From The Princeton Encyclopedia of the World Economy
The Asia Pacific Economic Cooperation (APEC) process was the first structured forum for intergovernmental cooperation among the economies of East Asia and their main trading partners in North America, Australasia, and Russia.
Association of Southeast Asian Nations
From The Princeton Encyclopedia of the World Economy
The Association of Southeast Asian Nations (ASEAN) was formed in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Brunei joined in 1984 and Vietnam in 1995. Originally an anticommunist alliance, ASEAN is now an organization for economic cooperation composed of the fastest growing "Asian tigers."
European Union: Topic Page
An economic and political grouping that was formed (1993) to extend the European Community by adding common foreign and security policies to the single market. MORE
International Monetary Fund: Topic Page
An international financial organization set up to promote trade by keeping currencies stable and having a fund of money from which member states may borrow. MORE
West African Economic and Monetary Union
From Webster's New World Finance and Investment Dictionary
A monetary agreement between eight countries in Western Africa: Benin, Burkina Faso, Cote d’Ivôire, Guinea-Bissau, Mali, Niger, Senegal and Togo. The common currency of the WAEMU is the CFA franc, or franc de la Communauté Financiére de l’Afrique.
World Bank
From The Hutchinson Unabridged Encyclopedia
Specialized agency of the United Nations that borrows in the commercial market and lends on commercial terms. It was established in 1945 under the 1944 Bretton Woods agreement, which also created the International Monetary Fund (IMF). The International Development Association is an arm of the World Bank.
World Trade Organization: Topic Page
An international body concerned with promoting and regulating trade between its member states; established in 1995 as a successor to GATT.

Schools of Thought

Economic Nationalism
From Encyclopedia of Nationalism: Leaders, Movements, and Concepts
This particular brand of nationalism is premised on the belief that the overall success of the nation lies in, or at the very least is intimately connected with, the successful control of the national economy.
Free Trade: Topic Page
The basic argument for free trade is based on the economic theory of comparative advantage: each region should concentrate on what it can produce most cheaply and efficiently and should exchange its products for those it is less able to produce economically.
Mercantilism: Topic Page
Advocacy of the mercantile system, an old economic strategy based on the theory that a nation’s interests were best served by development of overseas trade and restriction of imports.
Protectionism
From Collins Dictionary of Economics
A deliberate policy on the part of governments to erect trade barriers such as tariffs and quotas in order to protect domestic industries from foreign competition.

Policies

Free Trade Zone
From The Penguin Dictionary of Economics
A customs-defined area in which goods or services may be processed or transacted without attracting taxes or duties or being subjected to certain government regulations.
Economic Integration
From The Dictionary of Human Geography
A term often coupled with globalization, and typically associated with claims about the virtues of free trade and unregulated capital markets.
Trade Barrier
From The Penguin Dictionary of Economics
A general term covering any government limitation on the free international exchange of merchandise.