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| A tarrif levied as a fixed charge for each unit of good imported. |
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| A tarrif levied as a proportion of the value of an imported good. |
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| Government financial assistance to a domestic producer. |
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| A direct restriction on the quantity of some good that may be imported into a country. |
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| Voluntary Export Restraint (VER) |
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| A quota on trade imposed by the exporting country, typically at the request of the importing country's government. |
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| Local Content Requirement |
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| A requirement that some specific fraction of a good be produced domestically. |
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| Administrative Trade Policies |
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| Bureaucratic rules designed to make it difficult for imports to enter a country. |
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| Selling goods in a foreign market at below their costs of production or below their "fair" market value. |
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| Policies designed to punish foreign Firms that engage in dumping and thus protect domestic producers from unfair foreign competition. |
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| New industries in developing countries must be temporarily protected from international competition to help them reach a Position where they can compete on world markets with the firms of developed nations. |
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| Government policy aimed at improving The competitive position of a domestic industry or domestic firm in the world market. |
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| The amount of FDI undertaken over a given time period (normally a year). |
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| The total accumulated value of foreign-owned assets at a given time. |
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| The flow of FDI out of a country. |
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| The flow of FDI into a country. |
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| Gross Fixed Capital Formation |
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| Summarizes the total amount of capital invested in factories, stores, office buildings, and the like. |
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| Argument that combining location-specific assets or resource endowments and the firm's own unique assets often requires FDI; it requires the firm to establish production facilities where those foreign assets or resource endowments are located. |
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| Sale of products produced in one country to residents of another country. |
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| Occurs when a firm (the licensor) licenses the right to produce its product, its production process, or its brand name or trademark to another firm (the licensee); in return for giving the licensee the rights, the licensor collects a royalty fee on every unit the licensee sell. |
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| The argument that firms prefer FDI over licensing to retain control over know-how manufacturing, marketing, and strategy or because some firm capabilities are not amenable to licensing; also known as the market imperfections approach. |
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| An industry composed of a limited number of large firms. |
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| Arises when two or more enterprises encounter each other in different regional markets or industries. |
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| Location-Specific Advantages |
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| Advantages that arise from utilizing resource endowments or assets that are tied to a particular foreign location and that a firm finds valuable to combine with its own unique assets (such as a a firms technological, marketing, or management capabilities) |
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| Balance-of-Payment Accounts |
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| National accounts that track both payments to and receipts from other countries |
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| In the balance of payments, records transactions involving the export and import of goods and services. |
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| FDI undertaken to serve the home market. |
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| Regional Economic Integration |
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| Agreements among countries in a geographic region to reduce, and ultimately remove tariff and nontariff barriers to the free flow of goods, services and factors of production between each other. |
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| A group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies. |
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| European Free Trade Association |
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| A free trade association including Norway, Iceland, Liechtentstein, and Switzerland |
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| A group of countries committed to removing all barriers to the free flow of goods and services between each other and the pursuit of a common external trade policy. |
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| A group of countries commited to removing all barriers to the free flow of goods, services, and factors of production, between each other and the pursuit of a common external trade policy. |
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| a group of countries committed to removing all barriers to the free flow of goods and services and factors of production; the adoption of a common currency, the harmonization of tax rates and the pursuit of a common external trade policy. |
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| A central political apparatus that coordinates economic social and foreign policy. |
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| Trade created due to regional economic integration; occurs when high-cost domestic producers are replaced by low-cost foreign producers in a free trade area. |
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| Trade diverted due to regional economic integration when low-cost foreign suppliers outside a free trade area are replaced by higher-cost foreign suppliers in a free trade area. |
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| An economic group of 27 European nations; established as a customs union, it is moving toward economic union; formerly known as the European Community. |
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| Body responsible for proposing EU legislation implementing it and monitoring compliance. |
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| Elected EU body that consults on issues proposed by the European Commission. |
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| Treaty signed in 2007 that made the European parliament the co-equal legislator for almost all European laws and also created the position of the president of the European Union. |
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| Supreme appeals court for EU law |
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| An 1987 act adopted by members of the European Community, that committed member countries to establishing an economic union. |
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| Treaty agreed to in 1991 but not ratified until January 1st 1994, that committed the 12 member states of the European Community to adopt a common currency. |
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