IEI Final PDF

Final Monday, December 2, 2024 4:39 PM 1. What is key principle of WTO which aims to reduce info asymmetry in markets and foster greater stability in global trading system? Nondiscrimination & Most Favored Nation (MFN) 2. How WTO can ensure accountability among its members for i...

Final Monday, December 2, 2024 4:39 PM 1. What is key principle of WTO which aims to reduce info asymmetry in markets and foster greater stability in global trading system? Nondiscrimination & Most Favored Nation (MFN) 2. How WTO can ensure accountability among its members for its trade actions? Enforceable commitments 3. What is the purpose of WTO annual trade monetary report? Provide comprehensive analysis of current global trade trends, policy challenges, and the overall state of the multilateral trading system 4. What does the WTO do to support developing countries in addition to special and preferential treatment? - Providing technical assistance and training programs to improve trade capacity and access to info about global trade rules - Greater flexibility in sectoral coverage within service agreements that include developing countries, - The Special and Differential Treatment = help overcome issues relates to sanitary and phytosanitary measures and technical barriers to trade 5. What does the GATS framework? What services does it provide? GATS framework refers to banks, insurance firms, telecommunications, companies, tour operators, hotel chains, and transport companies looking to do business abroad enjoy the same principles that originally only applied to trade in goods 6. In context of service trade, what does the term "behind the borders" barriers refer to? "behind the borders" barriers refer to instruments that target production, investments, consumption, or the R&D expenditures themselves  6. In context of service trade, what does the term "behind the borders" barriers refer to? "behind the borders" barriers refer to instruments that target production, investments, consumption, or the R&D expenditures themselves 7. What are the 4 models of delivery for services classified under the GATS system? Cross-border trade, consumption abroad, commercial presence, and presence of natural persons 8. What is the key aspect of TRIPS agreement in the context of intellectual property right? TRIPS agreement establishes minimum standards of protection for various IPRs, like patents, copyrights, trademarks, etc 9. How does the TRIPS agreement address relationship between IPR and development for developing countries? Developing countries have more time to phase in the obligations under the agreement, they have more flexibilities to implement IPR rules in a way that suits their specific conditions 10. What is often referred as the "crown jewel" of the WTO and considered a success of multilateral trading system? (check) The Dispute Settlement "DS" system 11. What is the primary purpose of WTO dispute settlement process? Enforceable means for WTO members to resolve disputes arising under binding provisions; Interpreting agreements and commitments and how to ensure that members' trade policies conform with them (reduces potential political or military conflict) 12. In dispute settlement process, what do WTO members commit regarding violation of WTO obligations? Settle complaints about alleged violations under DSU rules and procedures 13. What is the role of dispute settlement body (DSB) in WTO? Plenary committee of the WTO that oversees the panels and adopts the recommendation of a DS or AB panel 14. What is the one example of the gradual transition from GATT to WTO? (Mentioned in lecture) Trade Policy Review Mechanism: members adopted in "early  the recommendation of a DS or AB panel 14. What is the one example of the gradual transition from GATT to WTO? (Mentioned in lecture) Trade Policy Review Mechanism: members adopted in "early harvest" and was fully operational six years before WTO came into being 15. What is the purpose of the panel under the DSU? DSU provides for Appellate Body (AB) review of panel reports in event decision is repealed Acts as neutral body that investigates and makes finding to assist DSB 16. What is the significance of the WTO's agreements? Establish a legal framework for international trade, setting rules and started for countries 17. What is a distinguished feature of pluri-lateral agreements compared to multi-lateral agreements in WTO? Pluri-laterial agreements are negotiated by a subset of WTO members and often focus on a specific sector, multi-lateral agreements are ones that all members subscribe to 18. How do participants in pluri-lateral agreement grant benefits to other WTO members? MFN- negotiating group forms critical mass of world trade in product/sector of negotiation to avoid free rider problem Non-MFN/conditional MFN- participants undertake obligations themselves but do not extend to other members unless they directly participate 19. What is the key feature of the Government Procurement Agreement (GPA)? Provides market access for various nondefense government projects to contractors of its signatories 20. How are decisions typically made in the WTO? Taken by consensus among all members and they are ratified by members' parliaments 21. Under the "enabling clause" of WTO, what does it enable developed country members to do in relation to developing countries? Enables developed country members to grant differential and more  Taken by consensus among all members and they are ratified by members' parliaments 21. Under the "enabling clause" of WTO, what does it enable developed country members to do in relation to developing countries? Enables developed country members to grant differential and more favorable treatment to developing countries that is not extended to other members 22. What is inter-sectoral structural change in the context of economic development? A process of sustained growth in developing countries that benefits everyone by shifting their economies away from the primary sector 23. How does the manufacturing sector contribute to economic prosperity according to text? Provides material basis for wealth, provides equipment that enable further development of primary sector, generates value added by transformation of raw materials 24. What role does the manufacturing sector play in stimulating other economic activities? Forward and backward linkages 25. What is a key factor in the process of sustained growth in developing countries according to the text? Transformation of the primary sector 26. What has been the dominant view regarding government involved in industrial development in recent decades? (proactive v limit itself, etc) The government should limit themselves to removing obstacles to industrial development and correcting market failures; no favoring manufacturing activities 27. What is the key characteristic of the multi-stake holder approach to industrial policymaking of UNIDO? They are at center stage in industrial development process 28. United Nations has the 5 regional economic commissions. TRUE 29. (Short Answer, 4-6 sentences) While the US Dollar continues to dominant the world economy, its share in global reserves is undergoing a relevant decline. What factors contribute to this decline? Diversification in reserves 28. United Nations has the 5 regional economic commissions. TRUE 29. (Short Answer, 4-6 sentences) While the US Dollar continues to dominant the world economy, its share in global reserves is undergoing a relevant decline. What factors contribute to this decline? Diversification in reserves Rise of Chinese Yuan Economic sanctions 30. From UNIDO POV, what does the assessment of the attractiveness of industries involve? How do they figure out which industries are attractive and can be supported? Attractiveness of industry is a multidimensional comparative assessment: find out by analyzing growth dimension, pro-poor dimension, environmental dimension. 31. What does strategic visibility/feasibility involve in the context of assessing industries? Uses technological capabilities and other policy relevant country factors; country factors 32. What is the purpose of assessing the strategic feasibility of industries by UNIDO staff/members? Makes it possible to identify and select industries that have an immediate of future strategic feasibility combined with low or high attractiveness 33. What is the primary focus of UNIDO's strategic approach to development as mentioned in then text? Government interventions aimed at steering economic activity towards areas that offer better prospects for economic development 34. (Have to know, in lecture, what the UN publications are). Know names and purpose of publications. Which publication would address the scenario in the question? World Investment Report: focuses on trends in foreign direct investment global, regional, and county levels Least Developed Countries Report: socioeconomic analysis and data on the world's most impoverished countries Information Economy Report: monitors trends and policies related to access, use, and impact of digital technologies from development perspective Technology and Innovation Report: examines how technological advancements, like green innovations, can impact developing countries  Information Economy Report: monitors trends and policies related to access, use, and impact of digital technologies from development perspective Technology and Innovation Report: examines how technological advancements, like green innovations, can impact developing countries 35. What role do stakeholders play in UNIDO's strategic industrial policy (SIP) approach? UNIDO facilitates industrial development dialogue among all key public and private stakeholders in a country impartially; have to 'own' it 36. (Short Answer) What are the three roles that UNIDO plays in implementing SIP project? Facilitator: helps to initiate and stimulate the industrial development dialogue among all key public and private sector and stakeholders in country Adviser: from the dialogue and vast experience and research, UNIDO distils recommendations for the process and content of strategic industrial policy Developer: help the actors to develop their skills, knowledge, administrative and managerial capacities to enable them to realize the strategy 37. What is the overarching goal of UNIDO's SIP approach in the context of the country's economy? help government identify to identify and initiate interventions that will guide country's economy towards sustainable growth by encouraging structural change 38. What is the primary consideration for UNIDO in implementing SIP project? The needs of a specific country and their economic, social, and environmental sustainability 39. (Short Answer) Is it accurate to say that all 5 UN economic commission pursue a unified agenda? If yes/no, explain. Yes, they do. Each regional commission is established to promote economic and social development in various regions of the world. They have a common agenda to promote regional economic cooperation and integration, conduct research and analysis on economic and social issues, and provide technical assistance to member states to support development efforts. Further, they provide a platform for member states to exchange ideas and share  economic and social development in various regions of the world. They have a common agenda to promote regional economic cooperation and integration, conduct research and analysis on economic and social issues, and provide technical assistance to member states to support development efforts. Further, they provide a platform for member states to exchange ideas and share the best practices. They also all develop regional policies and strategies to address common challenges. 40. What is the primary focus of UNIDO as a facilitator in the context of SIP projects? Facilitator: helps to initiate and stimulate the industrial development dialogue among all key public and private sector and stakeholders in country 41. What is the role of UNIDO as a policy advisor in SIP projects? From the dialogue and its vast experience and research, UNIDO distils recommendations for the process and content of a strategic industrial policy 42. What is emphasized in tailoring industrial policies according to the text? Tailored to specific needs of the country 43. (Short Answer) List at least three reasons for the US has formal and informal influence on IMF and World Bank. Explain. Formal: voting power; US has single largest share. Need 85% majority for major decisions so US can essentially veto on it own Leadership in IMF and World Bank: US controls key staff and positions in IMF and president of WB is usually an American Informal: geopolitical leverage: US is the worlds largest economy and plays central role in global trade, finance, etc. Overall lots of influence 44. What is the primary task during the implementation stage of SIP projects provided in the text? Creating the institutions and coordination mechanisms for the implementation 45. What is emphasized as a complex task during the implementation stage of an SIP according to text? Strategy 46. What was the primary motivation for establishment of UNCTAD in early 1960s? Growing concerns about the place of developing countries in  an SIP according to text? Strategy 46. What was the primary motivation for establishment of UNCTAD in early 1960s? Growing concerns about the place of developing countries in international trade led many countries to call for the convening of conference devoted to tackling problems and identify actions 47. When was the first UNCTAD held and where did it take place? Date & Location Geneva 1964 48. What is the Group of 77, and when was it established? Developing nations established group to be able to voice their concerns at same time; 1964 49. What global challenges does UNCTAD analyze, particularly focusing on their impact on developing countries? Broadened the scope of its activities to assist developing countries in their efforts to integrate into the world trading system: technical assistance, trade efficiency, rescheduling of official debt 50. In addition to sustainable development, what is another key focus of UNCTAD's economic and trade agenda according to text? Ending extreme poverty 51. What are the four main types of regional economic integration? Free trade area, customs union, common market, economic union 52. Common market: read statement and answer TF. Know how do common markets work. Common market: allows for creation of economically integrated markets between member countries. Trade barriers and restrictions to movement of labor and capital between member countries are removed; common trade policy with nonmember nations 53. What does the single market with the EU allow for free flow of? What can flow freely in EU market? Free flow of goods, services, capital, and people 54. What advantage do businesses operating in the Euro Zone experience in terms of currency exchanges? No currency-exchange rate risk No need to convert currencies within euro markets > reduction in  Free flow of goods, services, capital, and people 54. What advantage do businesses operating in the Euro Zone experience in terms of currency exchanges? No currency-exchange rate risk No need to convert currencies within euro markets > reduction in transaction costs 55. NAFTA/USMCA: What are the governing rules of NAFTA? How is it governed? Rules governing origin of content Member countries can establish their own rules with nonmember countries; ensure that foreign exporter wont just ship to NAFTA country with lowest tariffs; require at least 50% of net cost of products must come from/ be incurred in NAFTA region 56. What is a drawback associated with regional economic agreements? Trade diversion, employment shifts and reductions, loss of national sovereignty 57. What is the content of Stability Programs (SPs) and Convergence Programs (CPs) submitted by EU member states? Stability Programs (member states using euro) lay out fiscal plan for next 3 years Convergence Programs (non-euro users) lay out plan and additional info about monetary policies 58. What is the Medium Term Objective (MTO) in the context of SPs and CPs? MTO is budgetary target set for member states defined in structural terms; also must set out yearly targets on way towards MTO 59. How does the EU address the risks of non-compliance with SPs and CPs? The Commission assesses SPs and CPs both before and after implementation so they can identify and discuss any risks 60. What triggers the Excessive Deficit Procedure for a member state in the EU rules? When a member state runs an excessive budget deficit of more than 3% of GDP or fail to reduce their excessive debts at a sufficient pace 61. What are the potential consequences of trade diversion in regional agreements? Increased trade with less efficient/more expensive member country; new barriers with countries outside the trading bloc  3% of GDP or fail to reduce their excessive debts at a sufficient pace 61. What are the potential consequences of trade diversion in regional agreements? Increased trade with less efficient/more expensive member country; new barriers with countries outside the trading bloc 62. What are the economic criteria for countries seeking to join EU? Is it Amsterdam, Lisbon, Maastery, or Copenhagen? Copenhagen 63. How does the Common Effective Preferential Tariff (CEPT) scheme function within ASCEAN? ASEAN members can impose tariffs on goods entering outside ASEAN based on its national schedules, but ASEAN members are to apply tariff rate of 0-5% for good originating within the bloc. 64. What year was BRICS New Development Bank established? July 2014 65. The financial of architecture of BRICS consisted of the following institutions: New development bank, contingent reserve arrangement 66. What characteristics informal international economic institutions? Why are they informal? Groups of countries/organizations that collaborate and coordinate their economic policies outside of formal, legally-binding agreements, or institutions. Formed to address specific issues that are not being adequately addressed by formal institutions 67. See names of orgs: pick right answer to say "This one" is an example of informal economic institutions. G7, G20, Paris Club, London Club, World Economic Forum 68. Know Paris Club of Creditors: what are they and what do they do. TF Paris Club of Creditors: provide debt relief and restructuring to developing countries facing debt difficulties; 22 member countries; goal to restore debtor's access to international capital markets 69. Know cumulative GDP of G7 and BRICS, which one is larger and by what percentage (TF?) BRICS: 31.5, G7: 30.7. BRICS by 0.8%.