International Political Economy: Terms and Concepts, Quizzes of International Relations

Download International Political Economy: Terms and Concepts and more Quizzes International Relations in PDF only on Docsity! TERM 1 International Political Economy DEFINITION 1 The study of the politics of trade, monetary, and other economic relations among nations, and their connection to other transnational forces. TERM 2 Bretton-Woods System: DEFINITION 2 A post-World War II arrangement for managing the world economy, established at a meeting in Bretton Woods, New Hampshire, 1944. Its main institutional components are the World Bank and the International Monetary Fund (IMF). TERM 3 IMF DEFINITION 3 International Monetary fund, The IMF coordinates international currency exchange, the balance of international payments, and national accounts TERM 4 World Bank: DEFINITION 4 formally the international bank for reconstruction and development (IBRD), an organization that was established in 1944 as a source of loans to help reconstruct the Europeans economies. later the main borrowers were third world countries and, in the 1990s, Eastern European ones. TERM 5 Fixed Exchanged Rate DEFINITION 5 the official rates of exchange for currencies set by governments; not a dominant mechanism in the international monetary system since 1973 TERM 6 Floating Exchange Rate DEFINITION 6 the rates determined by global currency markets in which private investors and governments alike buy and sell currencies TERM 7 Gold Standard DEFINITION 7 a system in international monetary relations, prominent for a century before the 1970s, in which the value of national currencies was pegged to the value of gold or other precious metals. TERM 8 Balance of Payments DEFINITION 8 a summary of all the flows of money into and out of a country. it includes three types of international transactions: the current account (including the merchandise trade balance), flows of capital, and changes in reserves TERM 9 Centrally planned Economy DEFINITION 9 and economy in which political authorities set prices and decide on quotas for production and consumption of each commodity according to a long-term plan. TERM 10 Comparative Advantage DEFINITION 10 the principle that says states should specialize in trading goods that they produce with the greatest relative efficiency and at the lowest relative cost (relative, that is, to other goods produced by the same state) TERM 21 (economic) Liberalism DEFINITION 21 an alternative approach, generally shares with liberal internationalism a belief in the possibility of cooperation to realize common gains. TERM 22 NAFTA DEFINITION 22 North American Free Trade Agreement, a free trade zone encompassing the United States, Canada, and Mexico since 1994 TERM 23 Balance of Trade DEFINITION 23 the value of a state's exports relative to its imports. TERM 24 Reserve Currency DEFINITION 24 hard-Currency stockpiles kept by states. TERM 25 Newly industrialized Countries DEFINITION 25 (NICs) third world states that have achieved self-sustaining capital accumulation, with impressive economic growth. the most successful are the four tigers or four dragons of east Asia: South Korea ,Taiwan, Hong Kong, and Singapore. TERM 26 Less-Developed Countries DEFINITION 26 (LDCs) the world's poorest regions-the global south-where most people live; also called underdeveloped countries or developing countries. TERM 27 Colonialism DEFINITION 27 the establishment, maintenance, acquisition without formal political control. TERM 28 Dependency Theory DEFINITION 28 A Marxist-oriented theory that explains the lack of capital accumulation in the third world as a result of the interplay between domestic class relations and the forces of foreign capital. TERM 29 Import-Substituting industrialization DEFINITION 29 a strategy of developing local industries, often conduct behind protectionist barriers, to produce items that a country had been importing. TERM 30 Export-oriented industrialization DEFINITION 30 an economic development strategy that seeks to develop industries capable of competing in specific niches in the world economy. TERM 31 Structural adjustment DEFINITION 31 Implementation of the IMF conditionality TERM 32 integration DEFINITION 32 refers to the process by which supranational institutions replace national ones-the gradual shifting upward of sovereignty from state to regional or global structures. TERM 33 Functionalism DEFINITION 33 growth of specialized technical organization that cross national borders. focused on technological and economic. TERM 34 Neofunctionalism DEFINITION 34 Political consequences, modification of functional theory by IR scholars to explain developments. TERM 35 European Union DEFINITION 35 (EU) the official term for the European Community and associated treaty organization. The EU has 25 Members states and is negotiating with other states that have applied for membership TERM 46 Sustainable Development DEFINITION 46 Develop new technology and a new way of life so we can be self sustaining from all the depleting resources. TERM 47 Global Warming DEFINITION 47 Global warming is the increase in the average temperature of Earth's near-surface air and oceans since the mid-20th century and its projected continuation. TERM 48 Ozone Depletion DEFINITION 48 Ozone depletion describes two distinct, but related observations: a slow, steady decline of about 4% per decade in the total volume of ozone in Earth's stratosphere (the ozone layer) since the late 1970s, and a much larger, but seasonal, decrease in stratospheric ozone over Earth's polar regions during the same period. TERM 49 Biodiversity: DEFINITION 49 The tremendous diversity of plants and animal species making up the earth's (Global, Regional, and local) ecosystems. TERM 50 Greenhouse gasses DEFINITION 50 Carbon dioxide and other gases that, when concentrated in the atmosphere, act like the class in a green house, holding energy in and leading to global warming TERM 51 Resource Curse DEFINITION 51 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. TERM 52 Kyoto Protocol DEFINITION 52 1997, the main international treaty on global warming, which entered into effect in 2005 and mandates cuts in carbon emissions in 2008-2012. almost all the world's major countries, except the United States, are participants. TERM 53 Globalization DEFINITION 53 The increasing integration of the world in terms of communications, culture, an economics; may also refer to changing subjective experiences of space and time. TERM 54 Global Governance DEFINITION 54 Global governance or world governance is the political interaction of transnational actors aimed at solving problems that affect more than one state or region when there is no power of enforcing compliance. TERM 55 Terrorism DEFINITION 55 political violence that targets civilians deliberately and indiscriminately. TERM 56 State-Sponsored terrorism DEFINITION 56 the use of terrorist groups by states-usually under control of the state's intelligence agency-to achieve political aims. TERM 57 Exchange Rate DEFINITION 57 The rate at which one state's currency can be exchanged for the currency of another state. since 1973, the international monetary system has depended mainly on floating rather than fixed exchange rates. TERM 58 Cartel DEFINITION 58 OPEC, oil producing. an association of producers or consumers of a certain product, formed for the purpose of manipulation its price on the world market. TERM 59 Armed Islamic Group DEFINITION 59 Anti-American and Anti-Western sentiments in predominantly Islamic countries have accelerated the growth of violent Islamic groups as well.