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How Globalization and Liberal Economic Idea have Influenced Today's Monetary - Essay Example

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How Globalization and Liberal Economic Idea have Influenced Today's Monetary

Bringing together of the global markets, play a paramount role, in the enhancement of economic performances for the countries that are involved in this system. According to the concepts presented in globalization, various activities are integrated, which may comprise economic systems, product flow within different countries, as well as, services. Consequently, globalization directs to trade liberalization that leads to the growth of international trade for commodities, as well as, different services around these countries (Ognivtsev 1). Currently, it has become evident that the liberal ideologies within the economic context together with the fundamental concepts that emerge from globalization markedly influence the monetary structure of different economies around the globe. Similar to globalization, liberal ideologies offer appreciable support to the concepts of trade liberalization. In accordance to the liberal ideologies, it offers substantial support to openness within the global markets in relation to conducting trade. The ideologies encourage openness since it aims at reducing or eliminating trading obstacles. This implies that the elimination of these obstacles assists in the distribution of commodities through international boundaries. Therefore, this indicates that the liberal economic concepts props up the thought that international trade places countries and populaces taking part in international trade at an advantage. The countries that participate in this trade also benefits

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from the commodities that are exported to different destinations or imported from certain countries, where the commodities or services are in surplus. Consequently, these flows of commodities in and out of the trading system produce certain effects to monetary structure within the economy. Globalization and liberal economic viewpoints have a similar goal, which is trade liberalization that ensures that a state realizes elevated growth rates in terms of foreign gains. These gains ensure that a country has a steady stream of capital within the monetary institutions thus influencing the monetary structure of these countries. Globalization together with the liberal thoughts has achieved this influence on the monetary structure through the flow of monetary resources from foreign countries. Interconnections of different countries that possess diverse comparative advantage have profoundly affected the monetary structure, since countries have the opportunity to purchase the commodities that they have no comparative advantage over (Ognivtsev 1). Monetary structure is regarded as an exceptional institutions structure that performs, contrary to other institutional structures. Monetary structure involves all diverse economic activities that deal with merchandise and services and depend on this exceptional institutional arrangement. The monetary structure bears the responsibility of offering steady stream of monetary resources to all sectors within the financial system. Therefore, situations that occur within the economy and affect the supply of monetary resources can impose either positive or negative impacts to the monetary structure. Economic activities that enhance the flow or supply of monetary resources within the financial system augment the performance of the monetary institutions and thus the monetary stru

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Name Instructor Task Date How Globalization and Liberal Economic Idea have Influenced Today’s Monetary Structure Introduction In accordance to the liberal economic ideologies, countries that are liberalized in terms of its undertakings take part in commerce and other related activities at domestic and international levels…
How Globalization and Liberal Economic Idea have Influenced Todays Monetary
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