Week 6

Question 1

Andreas Dür

Answer 1

“Bringing Economic Interests Back into the Study of EU Trade Policy-Making”- 2008

Question 2

Comparative advantage

Answer 2

David Ricardo

Question 3

Mercantilism

Answer 3

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Question 4

The gold standard

Answer 4

Introduced in nineteenth century

Question 5

RTAA

Answer 5

Regional Trade Agreements Act of 1934

Question 6

Smoot-Hawley of 1930

Answer 6

protectionist

Question 7

Bretton Woods

Answer 7

1944, established International Bank for Reconstruction and Development (WorldBank) and the Internaternational Monetary Fund. It also set in place the international inetntion to create the International Trade Organization

Question 8

Customs Union

Answer 8

all obstacles of free movement of goods and services are removed and a common external tariff is agreed.

Question 9

Common market

Answer 9

Union of partners with free movement of goods, services, and the addition of free movement of labour and capital.

Question 10

Reciprocity

Answer 10

Principle GATT

Question 11

Special and differential treatment (SDT)

Answer 11

Exemptions from the negotiating principle of reciprocity, preferential access for developing country exports to rich country markets and development assistance to help developing countries compete in export markets

Question 12

GATT safeguard provisions

Answer 12

Article XII allows governments to reimpose trade
restrictions in the face of balance-of-payment difficulties while Article XIX
permits governments to raise tariffs for a period of time when a particular
industry is confronting significant problems as a result of tariff
reductions

Question 13

Newly industrializing economies (NIEs)

Answer 13

#

Question 14

Trade-Related Investment Measures

Answer 14

TRIMs. Very limited proportion of the issues raised in the negotiation

Question 15

Trade-Related Aspects of Intellectual Property Rights (TRIPs)

Answer 15

Grant state protection to producers of new ideas.

Question 16

Enabling Clause

Answer 16

permits regional agreements among developing countries on trade in goods

Question 17

Economies of scope

Answer 17

Firms can spread various costs across various products, which may be related.

Question 18

Import-substitution industrialization (ISI)

Question 19

International Financial Institutions (IFIs)

Question 20

New International Economic Order (NIEO)

Answer 20

Set of proposals advocated by developing countries to end economic colonialism and dependency through a new interdependent economy.

Question 21

Collusive delegation argument/hypothesis

Answer 21

Politicians consciously designed the EU’s institutional framework to minimize the influence of societal interests
-> power distribution between societal and public sector skewed in favour of the state

Question 22

Delegation reduces societal actors’ control over trade policies

Answer 22

1. Geographical scale: societal interests are now in the struggle with other societal interests to get access to decision-making stage, as the number of actors has increased
2. Agenda control is delegated to the governments as they are in decision-making bodies- societal interests cannot easily influence or change this
3. Information gets more asymmetric in favour of the government
4. After initial delegation to EU bodies regulated by state actors, they will adjust decision-making practices in favour of their power