International economics

International economics

International trade theories, policies, finances and their effects on economic activities.

Industry: Economy

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International economics

liberalization

Economy; International economics

1. The process of making policies less constraining of economic activity. 2. Reduction of tariffs and/or removal of nontariff barriers.

licensing

Economy; International economics

1. The requirement that importers and/or exporters get government approval prior to importing or exporting. Licensing may be automatic, or it may be discretionary, based on a quota, a performance ...

linear cut

Economy; International economics

A reduction in tariffs in which the size of the reduction is linearly related to the initial size of the tariff: %''t'' = ''a'' + ''bt'', where %''t'' is the percent reduction in the tariff, ...

linear regression model

Economy; International economics

A linear relationship between a dependent variable and one or more independent variables plus a stochastic disturbance: ''Y i =b'' 0 +''b'' 1 ''X'' 1''i +. . . +b n X ni +u i . ''

linking scheme

Economy; International economics

A requirement that, in order to get an import license, the importer must buy a certain amount of the same product from local producers.

A financial crisis that occurs due to lack of liquidity. In international finance, it usually means that a government or central bank runs short of international reserves needed to peg its exchange ...

liquidity trap

Economy; International economics

A situation in which expansionary monetary policy fails to stimulate the economy. As used by Keynes (1936), this meant interest rates so low that expectations of their increase made people unwilling ...