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18 Cards in this Set
- Front
- Back
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Decoupling |
a fundamental global shift in which industrialized country-dependent developing economies begin to grow based on their own underlying economic strengths rather than the ups and downs of the world’s richest countries |
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institutions |
the rules, enforcement mechanisms, and organizations that support market transactions |
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antitrust laws |
national laws aimed at maintaining competition in all sectors of the economy and preventing monopolistic behavior of firms |
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Globalization |
the socio-economic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries, which in turn can lead to increased economic growth and geo-political integration and interdependence among nations of the world |
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international monetary system |
the system of exchange rates and international payments that enables countries and their citizens to purchase goods and services from one other |
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economic reforms |
economic policy changes that promote private sector development, competitive markets, market-pricing, freer trade, and deregulation |
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emerging market economies |
countries that are implementing more open trade and free-market policies |
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capital markets |
a stock exchange where longterm financial instruments such as stocks and bonds can be bought and sold |
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digital era |
the period of transformation that adjusts lifestyles to make the Internet and wireless technologies a part of everyday life |
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accountability |
a system of responsibility in which an authority, such as the government, is answerable for its actions |
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multi-polar world |
a world economy in which the engines of growth could comprise several major industrialized and emerging market economies such as the United States, the European Union, China, India, Brazil, Russia, and South Africa rather than the United States alone |
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digital divide |
the perceived economic gap between countries or people with easy access to digital and information technology (and its benefits) and those with very limited access, or none at all |
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transparency |
a system of full disclosure and openness that aims to avoid any semblance of corruption and cronyism |
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adaptive institutions |
government organizations that create strong incentives for private investment and operate under a system of checks and balances |
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bandwidth |
the amount of data and other information that can be transferred in a second via the Internet |
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liberalization of the trading system |
lowering and/or removing trade barriers such as tariffs, quotas, and subsidies |
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sustainable development |
economic development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs, whether environmentally, socially, or economically |
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the web |
the world wide web, abbreviated as “www” and commonly known as the web; a system of interlinked documents contained and accessed via the Internet |
