International economics

International economics

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

Industry: Economy

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International economics

Rollback

Economy; International economics

1. The phasing out of measures that are not consistent with an agreement. 2. In the Uruguay Round, the agreement to remove all GATT-inconsistent trade-restricting and trade-distorting measures by the ...

Redundant tariff

Economy; International economics

A tariff that, if changed, will not change the quantity of imports, either because the tariff is prohibitive, or because some other policy such as a quota or an embargo is limiting quantity.

Regional aid

Economy; International economics

A subsidy directed at a geographic region within a country to assist its development. Such subsidies are non-actionable under WTO rules.

Regional trade agreement

Economy; International economics

1. A preferential trade agreement among countries that are geographically close together. 2. (As the term is used by the WTO) any preferential trade agreement among countries regardless of their ...

Rent

Economy; International economics

1. Economic rent: The premium that the owner of a resource receives over and above its opportunity cost. 2. The payment to the owner of land or other property in return for its use.