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1. A free trade agreement initiated 2006 among Albania, Bosnia and Herzegovina, Croatia, the former Yugoslav Republic of Macedonia, Moldova, Montenegro, Serbia and the United Nations Interim Administration Mission in Kosovo. 2. A free trade agreement initiated 1993 among the Czech Republic, Hungary, Poland, Slovakia, and Slovenia, later also including Bulgaria and Romania. Its purpose was in part to reverse the bias against trade among these neighboring countries that had developed during the process of transition. This was superseded by the accession of these countries to the Europeann Union.
Industry:Economy
1. In NAFTA, this portion deals with foreign direct investment. Most controversially, it includes a provision for a firm from one member country that has invested in another to bring action against a unit of government in that country if it has acted to reduce the value of its investment. 2. A portion of U. S. Bankruptcy law under which a firm can file for protection while it reorganizes.
Industry:Economy
A system for organizing, recording, and reporting data of a particular kind, such as international trade, industrial output, etc. Typical systems divide data into categories, each assigned numbers. These may be subdivided, using an additional digits, so that more digits mean a finer, or more disaggregated, classification.
Industry:Economy
An arrangement among financial institutions for carrying out the transactions among them, including canceling out offsetting credits and debits on the same account.
Industry:Economy
A commitment to take or make delivery of a currency in the future that is covered by a contract in the forward market; opposite of an open position.
Industry:Economy
1. A number or symbol multiplied by a variable. 2. In a regression analysis, the estimated numerical association between one variable and another, usually taken to represent the sign and size of the causal effect of one on the other.
Industry:Economy
A currency that is shared by more than one country. Thus the currency of a currency area.
Industry:Economy
A group of countries that eliminate all barriers to movement of both goods and factors among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the group. Equivalent to a customs union plus free mobility of factors.
Industry:Economy
1. Applied to a market or industry, this usually means perfectly competitive. Contrasts with imperfectly competitive. 2. Applied to a firm or the products of a country, this usually means having low price, high quality, or other characteristics that make it attractive to purchasers compared to products from other firms or countries. See competitiveness.
Industry:Economy
A legal requirement for the owner of a patent to let other firms produce its product, under specified terms. Countries sometimes require foreign patent holders to license domestic firms so as to improve access to the patented product at lower cost. This is permitted by the TRIPs Agreement for certain purposes, such as protecting public health.
Industry:Economy
