We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Economics in an International Context - Assignment Example

Comments (0)
Summary
A paper "Economics in an International Context" reports that restrictive trade practices adopted by companies are not good for growth in international trade. International trade has the impact on a country’s economy in terms of stability in the exchange rate of its currency…
Download full paper
GRAB THE BEST PAPER
Economics in an International Context
Read TextPreview

Extract of sample
Economics in an International Context

Download file to see previous pages... Similarly, the policies of the central government and the central bank are aimed at improving international trade and they have an impact on country’s economy and its international trade. Corporate social responsibility calls for balancing positive and negative externalities in businesses for sustainable growth and development in the long run. 1. International trade International trade is an important component in GDP of several nations. ‘The World Trade Organization (WTO) deals with the global rules of trade between nations.’ (World Trade Organization, 2013) Trade between nations has the potential to benefit all participating countries due to several reasons like import of technologically advanced machineries, materials for manufacturing products for exports and export of surplus agricultural produce. Reuvid & Sherlock (2011, p. 23) stated, ‘Between 2001 and 2008, world merchandise trade exports increased steadily from $4.7 trillion to $12.1 trillion, while trade in commercial services rose from 1.5 trillion to 3.8 trillion.’ Market structure and economic systems: According to Rivera-Batiz & Oliva (2003, p. 392) ‘Differences in market structure create different incentives affecting production decisions and trade behavior.’ Monopoly in various countries has given way to monopolistic structure or oligopoly with the smaller number of firms controlling the markets indirectly, circumventing the regulations on restrictive trade practices. The structure of markets in any country is influenced by the economic system adopted in the countries like the capitalist, socialist or communist. Traditionally, the imposition of tariffs and quota system in closed economies increased the prices that affected imports negatively. Under the free trade regime, the complexities have considerably increased. However, new trade models are not in a position to dispense with the subsidies and tariff, since various countries have various economic agenda that may not be consistent with free trade policy. Restrictive trade practices: In the international trade, import controls are the important tools adopted by governments to regulate the countries’ foreign trade. ‘The main objectives of import controls have been to protect domestic industry, raise revenue, and improve the balance of payments.’ (Thomas, V. & Nash, J. 1991, p.5) Though the objectives are reasonable, under globalization drive pursued by the countries in the recent years their economies cannot be kept insulated from the developments in the international economy. Krishna (1985, p. 1) stated ‘Voluntary export restraints (VER's) have been increasingly used to restrict imports recently’ and the malady still persists. Such problems mainly arise due to worsening balance of payments position in developing and underdeveloped countries. The impact of regional trade agreements on international trade cannot be underestimated. Kurihara (2011, p.846) argues ‘RTAs are not an efficient way to promote international trade.’ Restrictive trade practices in the international trade will be detrimental to the development of global competitiveness in the industries. Collusion among the producers could lead to the formation of cartels and differential pricing. ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
International economics ECON-370
GL1= 1- |88.2-228.2| 88.2+228.2 = 0.5575 GL2= 1- |50.3-27.0| 50.3+27.0 = 0.6986 GL= GL1+ GL2 = 1- |138.5-255.2| 138.5+255.2 = 0.7036 The indexes for the individual sectors are less than the total sector. These results show that both the intra-industry trade and inter-industry trade do not exist.
7 Pages(1750 words)Assignment
Economics in an International Context
Conclusion 7 6. Reference 8 1. Introduction: The Socialist and the Communist economic system are very much associated with the command economy. Before we discuss in detail about the command economy, here is a brief discussion about the role of the communist concept in economy.
4 Pages(1000 words)Assignment
Economics: Global Context of Business
One way to calculate a nation’s GDP is to find the total of all expenditure of a country. Nominal GDP is the GDP which is adjusted, by dividing the nominal GDP by the real price. Suppose that inventories fall by $2 billion, consumption increases by $8
3 Pages(750 words)Assignment
International economics
While absolute advantage gives a nation an almost monopoly power over certain goods and services, comparative advantage ensures quality goods readily affordable at low price. According to Ricardo, economic
25 Pages(6250 words)Essay
International economics
If the cost of acquiring the garment abroad is cheaper than the cost of acquiring such product locally, then the company experiences cost savings by buying the product
3 Pages(750 words)Assignment
Assignment of International Economics
These markets direct the wealth of investors to those who transform it to capital and use it to develop the economy such as companies and governments. This is a long term investment; investors get
4 Pages(1000 words)Assignment
International economics
scary since the low-skilled workers were likely to suffer from the intensified linkages among the countries that were developed and those that were not developed. The major problem that was caused by the emergence globalization was that it threatened the position of the
2 Pages(500 words)Assignment
International Business Economics
The term ‘economic growth’ is often applicable in the context of describing short-term economic performances. In general, economic growth refers to an increase in capital over a comprehensive period. It
16 Pages(4000 words)Essay
International economics
Conversely, a current account surplus. 3. A financial account is a constituent of the balance of payments of a country. The financial account represents loans and investments while the current account represents the trade balance which includes imports
2 Pages(500 words)Assignment
Economics in an international context
Advancement in technology, such as that of GPRS has enabled the use of roads to be easy to man, hence easy to charge for road-space (Frankena, 2003). Congestion of roads results into travelers paying high costs for travelling, increase in business cost and some road users for
5 Pages(1250 words)Essay
Let us find you another Assignment on topic Economics in an International Context for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us