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Balance of trade is the difference between the monetary value of a nation's exports and imports of goods over a certain time period. [1] Sometimes services are also considered but the official IMF definition only considers goods. The balance of trade measures a flow variable of exports and imports over a given period of time. The notion of the ...
It is defined as the sum of the balance of trade (goods and services exports minus imports), net income from abroad, and net current transfers. A positive current account balance indicates the nation is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower from the rest of the world.
Empirical investigations of the J curve have sometimes focused on the effect of exchange rate changes on the trade ratio, i.e. exports divided by imports, rather than the trade balance, exports minus imports. Unlike the trade balance, the trade ratio can be logarithmically transformed regardless of whether a trade deficit or trade surplus ...
Balanced trade is an alternative economic model to free trade. Under balanced trade, nations are required to provide a fairly even reciprocal trade pattern; they cannot run large trade deficits or trade surpluses. The concept of balanced trade arises from an essay by Michael McKeever Sr. of the McKeever Institute of Economic Policy Analysis.
This is a list of international trade topics. Absolute advantage; Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) Asia-Pacific Economic Cooperation (APEC) Autarky; Balance of trade; Barter; Bilateral Investment Treaty (BIT) Bimetallism; Branch plant economy; Bretton Woods conference; Bretton Woods system; British ...
The United Nations Conference on Trade and Development (UNCTAD) notes that this means that “even small changes in agricultural employment opportunities, or prices, can have major socio-economic effects in developing countries”. Thus whatever the development strategy a particular country adopts, the role of agriculture will often be crucial.
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Pollution control costs have an impact at the margins, where they exert some effect on investment decisions and trade flows. Pollution control costs are important enough to measurably influence trade and investment. Countries set their environmental standards below socially-efficient levels in order to attract investment or to promote their ...