|
|
Open economy |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Open economyAn economy that permits transactions with the outside world, at least including trade of some goods. Contrasts with closed economy.Similar MatchesEmerging economyEmerging economy1. Originally this term was applied to countries that had recently ceased to be part of the Soviet Union and its satellites, and thus emerging from centrally planned communist economies. The term drew attention to their transition to becoming market economies. 2. Rather quickly, perhaps acknowledging the importance of central planning and the failure of markets in many other countries, the term has expanded to encompass also developing countries, not necessarily ever communist, as they expanded the role of markets. Integrated World EconomyIntegrated World EconomyA hypothetical, theoretical benchmark in which both goods and factors move costlessly between countries. The IWE is associated with a retangular diagram depicting allocation of factors to countries, showing conditions for FPE. The name was coined by Dixit and Norman (1980), but the concept and technique was introduced by Travis (1964). Barter economyBarter economyAn economic model of international trade in which goods are exchanged for goods without the existence of money. Most theoretical trade models take this form in order to abstract from macroeconomic and monetary considerations. Mature economyMature economyThe economy of a nation with a stable population and slowing economic growth. External diseconomyExternal diseconomyNegative externality. Further SuggestionsOpen-economy multiplierSmall open economy Non-market economy Political economy Newly Industrializing Economy Bubble economy Ministry of Economy, Trade and Industry Goldilocks economy Command economy Tiger economy Pure exchange economy old economy stocks Mixed economy Market economy Closed economy Goldilocks economy Radical political economy New Economy black economy Political economy of protection External economy |
|
|
|