Friday, May 10, 2013

ECONOMICAL TERMS


Ad valorem duties (tariffs) Is calculated as a percentage of the value of the dutiable items. Contrasts with a specific tariff.


Anti-dumping duties May be imposed if export dumping causes injury to producers of competing goods in an importing country. The duties should be equal to the difference between the export price and the normal value of the dumped goods.


Balance of trade Refers to the difference between the value of exports and imports. It is calculated as the value of exports of goods and services minus the value of imports of goods and services.


Blue Box Comprises measures regarded as exceptions to the general rule that all subsidies linked to production must be reduced or kept within defined minimal levels. Covers payments directly linked to land size or livestock as long as the activity being supported limits production.


Dumping Occurs when goods are exported at a price less than their normal value, generally meaning that they are exported for less than they are sold in the domestic market or thirdcountry markets, or at less than cost of production.


Green Box Contains income support and subsidies that are expected to cause little or no trade distortion. Subsidies have to be funded by governments but must not involve price support. Environmental protection subsidies are included. No limits or reductions are required for such income support or subsidies.


Trade-Related Aspects of Intellectual Property Rights (TRIPS) Is an international treaty under the World Trade Organization (WTO), which sets down minimum standards of intellectual property for all products and services, covering copyrights, trademarks,geographical indications, industrial designs,
integrated circuits, patents and trade secrets.


Venture Capital Fund Is a pooled investment vehicle (often a partnership) that primarily invests the financial capital of third-party investors in enterprises that are too risky for the standard capital markets or bank loans.


Trade liberalization Is the removal of barriers to free trade, such as tariffs, quotas, nominal and effective rates of protection and exchange controls.


Intellectual property rights Is a generic phrase encompassing intangible property rights, including, among others, patents, trade and service marks, copyrights, industrial designs, rights in semiconductor chip layout designs, and rights in trade secrets.


Headcount ratio Is also known as the poverty incidence or headcount index. It measures the share of the total population in a given area whose consumption is below the poverty line. In other words, it is the proportion of the population who cannot afford to purchase the basic basket of goods and services.










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