Term
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Definition
| financial market liberalization |
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Term
| Financial Market Liberalization means |
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Definition
-Free capital mobility regime
and Capital account convertibillity (forgetting regulations on capital flows) |
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Term
| What has FML been part of? |
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Definition
| This has been a part of IMF's prescription for developing nations, balanced budget, free trade, and privatization. |
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Term
| What did trade liberalization have over FML? |
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Definition
| empirical evidence in favor of it |
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Term
| What year did european countries drop FM controls? |
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Definition
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Term
| Which country did not need to attract foreign capital due to its high savings rate? |
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Definition
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Term
| Who said that FML is part of the "Washington conseses" and who then called it "the Wall-Street- Treasury complex" ? |
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Definition
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Term
| Free capital flows is subject to... |
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Definition
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Term
| Who talked about speculation and its influence on enterprise and capital development? |
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Definition
| JM Keynes (quoted by Bhagwati) |
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Term
"The visualimageof a seaofliquid capital strikes me asapt—the big and inevitablestormsthroughwhich a greatlinerlike the U.S.S.UnitedStatesof America can safelysailwillsurelycapsizeeven the sturdiest South Pacific canoe."
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Definition
| Paul Volker quoted by Bhagwati |
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Term
| How did Malaysia avoid the 97 crisis? |
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Definition
| By imposing selective exchange controls and maintaining a lower interest rate for capital. |
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Term
| Financial markets suffer from lack of regulations and what also suffers from being under-regulated? |
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Definition
| Stock Markets (Equity markets) |
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Term
| What is the race to the bottom? |
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Definition
| a race among competing manufacturers from around the world to find the LOWEST WAGES, LOWEST OVERHEADS(manufacturing costs), and the weakest heath & safety reguirements in order to remain competitive |
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Term
| What country would be considered when viewing the race to the bottom? |
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Definition
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Term
| Steady of increasing demand for labor leads to... |
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Definition
| increased wages and more labor disputes |
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Term
| International "Concept 1" inequality: |
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Definition
| compares national mean incomes |
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Term
| International "concept 2" inequality |
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Definition
| compares population-weighted national mean incomes |
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Term
| Global "concept 3" (global) inequality: |
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Definition
| compares household incomes across the globe |
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Term
| Who wrote the income inequalities distinguished |
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Definition
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Term
| Between 1982-1995, the Gini coefficient dains what? |
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Definition
| a 20% increase in international inequality |
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Term
| Why did C-1 inequality increase between 1960 and 2000? |
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Definition
in 1960-82 the rest of the developingworld’sgrowth made up for
Africa’sslowergrowth (compared to the richcountries), after
1982, first South American & thenEasternEuropeancountries’
growthstalled. |
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Term
| Which 3 areas affect world income inequality? |
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Definition
1. rich countries in the west (US)
2. urban incomes in China and India
3. Rural incomes in china in india |
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Term
| Which country does not affext global inequality but has an increasing population? |
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Definition
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Term
| Is GDP per capita inequality a problem? |
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Definition
| The problem is the migratory pressures on rich countries that won't go away |
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Term
| What is Milanovic's suggestion for Aiding poorer countries? |
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Definition
| prioritize aid to poorest countries based by GDP per capita |
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Term
| What has been stated to be the possible soluction to inequality? |
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Definition
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Term
| Inequality is HEAVILY due to... |
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Definition
| the inequalities in rural/urban China and India |
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