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A multilateral free trade agreement is between several countries all treated equally, and creates a free trade area. Every customs union, common market, economic union, customs and monetary union and economic and monetary union is also a free trade area, and are not included below.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The home bias in trade puzzle is a widely discussed problem in macroeconomics and international finance, first documented by John T. McCallum in an article from 1995. [ 1 ] McCallum showed that for the United States and Canada, inter-province trade is 20 times larger than international trade, holding other determinants of trade fixed.
Unequal exchange shows the continuation of a pattern of appropriation that characterized the colonial period, which has expanded in the post-colonial era and characterizes the structure of today’s world economy. Among the factors that enable the continuation of these patterns of appropriation, Hickel et al. identify price inequalities and power.
While the Swiss National Bank continued to practice currency interventions to stop the influx of foreign money during economic crisis, the State Bank of Vietnam as well said that its foreign exchange rate policy "is a way to contain inflation, ensure macro stability and not to create an unfair trade advantage". A senior U.S. treasury official ...
International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications. International trade policy has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies.
An investigation into the limits of Fair Trade as a development tool and the risk of clean-washing, HEI Working Papers, vol. 6, Geneva: Economics Section, Graduate Institute of International Studies, October. Mohan, S. (2010), Fair Trade Without the Froth – a dispassionate economic analysis of 'Fair Trade', London: Institute of Economic Affairs.
Examinations of the Linder hypothesis have observed a "Linder effect" consistent with the hypothesis.Econometric tests of the hypothesis usually proxy the demand structure in a country from its per capita income: It is convenient to assume that the closer are the income levels per consumer the closer are the consumer preferences. [2]