Test #2 Vocab Flashcards
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Institutions that help their members cooperate military in the event of a war
alliances
a situation in which the military capabilities if two states or groups of states are roughly equal
balance of power
a strategy in which states join forces with the stronger side of a conflict
bandwagoning
the risk of being dragged into an unwanted war because of the opportunistic actions of an ally
entrapment
An alliance formed in 1949 among the US, Canada, and most of Western Europe in response to the threat posed by the Soviet Union… attack on any is an attack on all
NATO (North Atlantic Treaty Organization)
A collective security organization founded in 1919 after WW1, the league ended in 1946 and then was replaced by the UN.
League of Nations
A collective security organization founded in 1945 after WW2, With over 190 recognized member states
United Nations
Broad-based institutions that promote peace and security among their members. Examples include the League of Nations and the UN
collective security organization
Intentional and systematic killing aimed at eliminating an identifiable group of people, such as ethnic or religious group
genocide
Interventions designed to relieve humanitarian cries stemming from conflicts or large-scale human rights abuses
humanitarian interventions
The main governing body of the UN, which has the authority to identify threats to international peace and security and to prescribe the org’s response including military or economic santions
Security Council (UNSC)
the five members of the UN security council: US, Great Britain, France, Russia (formerly USSR), and Chine
permanent 5 (P5)
the ability to prevent the passage of a measure through a unilateral act, such as a single negative vote
veto power
a military operation in which force is used to make and/or enforce peace among warring parties that have not agreed to end their fighting
peace-enforcement operation
an operation in which troops and observers are deployed to monitor a cease-fire or peace agreement
peacekeeping operation
a war in which the main participants are within the same state, such as the government and a rebel group
civil war
the use or threatened use of violence against noncombatant targets by individuals or nonstate group for political ends
terrorism
armed conflict between actors with highly unequal military capabilities, such as when rebel groups or terrorists fight strong states
asymmetrical warfare
an actor that seeks to create an independent state on territory that carved from an existing state
separatist
an actor that seeks to detach from a region from on country and attach it to another, usually because of shared ethnic or religious ties
irredentist
conflicts in which tow opposing states “fight” by supporting opposite sides in a war, such as the government and rebels in a third state
proxy war
a military strategy in which small, often lightly armed units engage in hit-and-run attacks against military government and civilian targets
insurgency
actors whose interests are not widely shared by others; individuals or groups that are politically weak relative to the demands they make
extremists
a strategy of imposing or threatening to impose costs on other actors in order to induce a change in their behavior
coercion
a strategy of terrorist attacks intended to PROVOKE the target government into making disproportionate response that alienates moderates in the terrorists’ home society or in our sympathetic audiences
provocation
a strategy of terrorist attacks intended to sabotage a prospective peace between the target and moderate leadership from the terrorists’ home society
spoiling
a strategy of terrorist attacks designed to demonstrate superior capability and commitment relative to other groups devoted to the same cause
outbidding
the ability of a country or firm to produce a particular good or service more efficiently than other goods or services that it can produce
comparative advantage
the ability for a country or a firm to produce more of a particular good or service than other countries do with the same amount of effort and resources
absolute advantage
the theory that a country will export goods that make intensive use of the factors of production in which it is well endowed
- land
- labor
- capital for investment
- human capital
Heckscher-Ohlin trade theory
the imposition of barriers to restrict importsty998
protectionism
government limitations on the international exchange on goods
trade barriers
a tax imposed on imports
tarrifs
a limit placed on the amount of a good that is allowed to be imported
quota or quantitative restrictions
obstacles to imports other than tariffs
non-tarrif barriers to trade
the theorem that more protection benefits the scare factors of production
Stopler-Samuelson Theorem
an implicit or explicit arrangement for one government to exchange trade policy concessions with another
reciprocity
a status established by most modern trade agreements in which signatories extend to each other all other countries as well
most-favored nation (MFN) status
an institution created in 1995 to take place of the GATT and govern international trade relations. multilateral reduction to barriers to trade
World Trade Organization (WTO)
an international institution created in 1947 in which member countries are committed to reduce barriers to trade and provide similar trading conditions to all
-it was too loose of a system
General Agreement on Tariffs and Trade (GATT)
an agreement amongst three or more countries in a region to reduce barriers to trade among themselves
regional trade agreements (RTAs)
examples of RTA’s
NAFTA, EU
- investment in a foreign country via the purchase of stock (equities), bonds or other financial instruments
- do not exercise managerial control of the foreign operation
portfolio investment
loans from private financial institutions in one country to sovereign governments in other countries
sovereign lending
- investment in a foreign country via the acquisition of a local facility or the establishment of a new facility
- direct investors maintain managerial control of the foreign operation
foreign direct investment (FDI)
an important international institution that provides loans at below-market interest rates to developing countries , in an effort to try and make them carry out development projects
world bank
a sharp slowdown in the rate of economic growth and economic activity
recession
a severe downturn in the business cycle, associated with major decline in economic activity, production and investment; a severe contraction of credit; and sustained high unemployment
depression
to fail to make payments on a debt
default
the application of policies to reduce consumption, typically by cutting gov’t spending, raising taxes, and restricting wages
austerity
one of the oldest international financial organizations created in 1930. its members include the world’s principal central banks, and under its auspices they attempted to cooperate in the financial realm
Bank for International Settlements
A major international economic institution that was established in 1944 to manage international monetary relations sand has gradually reoriented itself to focus on the international financial system (debt and currency crisis)
International Monetary Fund (IMF)
an enterprise that operates in a number of countries, with production or service facilities outside its country of origin
Multinational Corporation (MNC)
an agreement between 2 countries about the conditions for private investment across borders
bilateral investment treaty
the price at which one currency is exchanged for another
exchange rate
in terms of a currency, to increase its relative value compared to others
appreciation
to decrease the value relative to other countries
depreciation
ro reduce the value of one currency relative to others
devalue
a tool used by national governments to raise or lower the interest rate
monetary policy
the institution that regulates monetary conditions in an economy
-usually via interest rates or money supply changing
central bank
an exchange-rate policy under which a government commits itself to keep its currency at or around a specific value relative to another currency or a commodity, such as gold
fixed exchange rate
the monetary system that prevailed between 1870 and 1914, in which countries tied their currencies to gold at a legally fixed price
gold standard
an exchange-rate policy under which a government permits its currency to be traded on the open market without direct government control or intervention
floating exchange rate
the monetary negotiated among WW2 allies in 1944, ended in the 70’s the the loss of the gold standard, was based on the US dollar tied to gold
Bretton Woods Monetary System
a monetary system of fixed but adjustable rates: gov’ts expected to keep their currencies fixed for extended periods but are allowed to adjust the exchange rate bc of changing economic conditions
adjustable peg rate
a formal or informal arrangement among governments to govern relations among their currencies: the agreement is shared by most countries in the world
international monetary regime
