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Doha Round

a series of negotiations under the world trade organization that began in 2001. followed the uruguay round. has focused on agricultural subsidies, intellectual property, and other issues

Bretton-Woods System

a post world war 2 arrangement for managing the world economy. its main institutional components are the world bank and the imf


a world organization established in 1947 for freer trade on a multi-lateral basis, was more of a negotiating framework than an administrative institution

land reform

policies that aim to break up large land holdings and redistribute land to poor peasants for use in subsistence farming

Common Agriculture Policy

a European union policy based on the principle that a subsidy extended to farers in any member country should be extended to farmers in all member countries

Common Market

a zone in which labor and capital (as well as goods) flow freely across borders

Generalized System of Preferences

a mechanism by which some industrialized states began in the 1970s to give tariff concessions to third world states on certain imports, an exception to the most favored nation principle


an economic theory and a political ideology opposed to free trade. it shares with realism the belief that each state must protect its own interests without seeking mutual gains through international organizations

Customs Union

a common external tariff adopted by members of a free trade area. that is, participating states adopt a unified set of tariffs with regard to goods coming in from outside


an organization created by the treaty of rome in 1957 to coordinate nuclear power development by pooling research, investment, and management

cultural imperialism

term critical of US dominance of the emerging global culture

Single European Act

An act that set a target date of the end of 1992 for the creation of a true common market (free cross-border movement of goods capital people and services) in the european community


an IGO that coordinates international currency exchange, the balance of international payments, and national accounts

Treaty of Rome

the founding document of the european economic community or common market, now subsumed by the european union

special drawing right

a world currency created by the IMF to replace gold as a world standard valued by a basket of national currencies, it has been called the paper gold

security community

a situation in which low expectations of violence permit a high degree of political cooperation (NATO)

managed float

a system of occasional multinational government interventions in currency markets to manage otherwise free floating currency rates


the tendency to see one's own group (in group) in favorable terms, and an outgroup in unfavorable terms


splitting of a common area or good into privately owned pieces, giving individual owners and incentive to manage resources responsibly

Transitional economies

countries in Russia and Eastern Europe that are trying to convert from communism to capitalism, with various degrees of success


the sale of products in foreign markets at prices below the minimum level necessary to make a profit (or below cost)


the continuation, in a former colony, of colonial exploitation without formal political control

Millenium Development Goals

UN targets for basic needs measures such as reducing poverty and hunger, adopted in 2000 with a target date of 2015

World System

a view of the world in terms of regional class divisions, with industrialized countries as the periphery and other areas as the semiperiphery

discount rate

the interest rate charged by governments when they lend money to private banks. its set by countries central banks

digital divide

the gap in access to information technologies between rich and poore people, between the global north and south

international integration

the process by which supranational institutions come to replace national ones. the gradual shifting upward of some sovereignty from the state to regional or global structures

mixed economies

economies such as those in the industrialized west that contain both some government control and some private ownership

world bank

formally the international bank for reconstruction and development, an organization that was established in 1944 as a source of loans to help reconstruct the european economies, later, the main borrowers were third world countries, and in the 1990s, eastern european countries

intellectual property rights

the legal protection of the original works of inventors, authors, creators, and performers under patent, copyright, and trademark law, such rights became a contentious area of trade negotiations in the 1990s

economic surplus

surplus created by investing money in productive capital rather than using it for consumption

central bank

an institution common in industrialized countries whose major tasks are to maintain the value of the state's currency and to control inflation

most favored nation

a principle by which one state, by granting another state MFN status promises to give it the same treatment given to the first state's most favored trading partner


the acquisition of colonies by conquest or otherwise. Lenin's theory of this argued that European capitalists were investing in colonies then using part of those profits to buy off part of the working class back home

Uruguay Round

a series of negotiations under the General Agreement of Tariffs and Trade that lasted from 1986-1994 with agreement to create the world trade organization. followed the kennedy round and tokyo round

Service Sector

the part of an economy that concerns services (as opposed to production of tangible goods) the key focus in international trade negotiations is on banking, insurance, and related financial services

Lisbon Treaty

a European Union agreement, not yet approved in 2009, that would replace a failed attempt at an EU constitution with a similar set of reforms strengthening central EU authority and modifying voting procedures among the EU's expanded membership

Cycle Theories

an effort to explain tendencies toward war in the international system as cyclical, for example, by linking wars with long waves in the world economy

Industrial policy

the strategies by which a government works actively with industries to promote their growth and tailor trade policy to their needs

Truth commisions

governmental bodies established in several countries after internal wars to hear honest testimony and bring to light what really happened during those wards and in exchange to offer most of the participants asylum for punishment


larger institutions and groupings such as the EU to which state authority or national identity is subordinated


a form of nationalism, whose goal is to regain territory lose to another state. it can lead directly to violent interstate conflict

montreal protocol

an agreement on protection of the ozone layer in which states pledged to reduce and then eliminate the use of CFCs. it is the most successful environmental treaty to date

council of the EU

a EU institution in which the relevent ministers (foreign, economic, agriculture, etc). of each member state meet to enact legislation and reconcile national interests. formerly known as the council of ministrers. when the meeting takes place among the state leaders, it is called the European Council

European Court of Justice

a judicial arm of the European union, based in luxembourg. the court has actively established its jurisdiction and its right to overrule national law when it conflicts with EU

Balance of payments

a summary of all the flows of money into and out of a country. it includes three types of international transactions: the current account, flows of capital, and changes in reserve

Maastricht Treaty

commits the EU to monetary union and to a common foreign policy

Free Trade area

a zone in which there are no tariffs, or other restrictions, in principle (if not always in practice) was a key aspect of britains policy after 1846 and of US policy after 1945


a policy of self-reliance, avoiding or minimizing trade and trying to produce everything one needs (or the most vital things) by oneself


a government policy that encourages or forces child bearing and outlows or limits access to contraception


the use of fossil-fuel energy to drive machinery and the accumulation of such machinery along with the products created by it

centrally planned economy

an economy in which political authorities set policies and decide on quotas for production and consumption of each commodity according to a long term plan

Kyoto Protocol

the main international treaty on global warming which entered into effect in 2005 and madates cuts in carbon emissions in 2008-2012. almost all the world major countries except the US are participants

European Commission

a European UNion body whose members, while appointed by states, are supposed to represent EU interests, supported by a multinational civil service in Brussels, the commision's role is to identify problems and propose solutions to the council of ministers

balance of trade

the value of a state's exports relative to its imports

state owned industries

industries such as oil-production companies and airlines that are owned wholly or partially by the state because they are thought to be vital to the national economy

world trade organization

an organization begun in 1995 that expanded the GATT's traditional focus and manufactured goods and created monitoring and enforcement mechanisms

resource curse

the difficulties faced by resource-rich developing countries, including dependence on exporting one or a few commodities whose prices fluctuate, as well as potentials for corruption and inequality


an association of producers or consumers or both, of a certain product, formed for the purpose of manipulating its price on the world market

demographic transition

the pattern of falling death rates, followed by falling birth rates, that generally accompanies industrialiation and economic development

neo functionalism

a theory that holds that economic integration (functionalism) creates a spillover effect, resulting in increased political integration


a unilateral move to reduce the value of a currency by changing a fixed or official exchange rate

economic liberalism

in the context of IPE, an approach that generally shares the assumption of anarchy, but does not see this condition as precluding extensive cooperation to realize common gains from economic exchanges. it emphasizes absolute over relative gains and, in practice, a commitment to free trade free capital flows, and an open world economy


a world organization established in 1947 to work for freer trade on a multilateral basis, was more of a negotiating framework than an administrative institution

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