- Industry: Education
- Number of terms: 31274
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A measure, in terms of real resources, of the opportunity cost of producing or saving foreign exchange. It is an ex ante measure of comparative advantage, used to evaluate projects and policies. The term was introduced to the economics literature by Bruno (1963, 1972).
Industry:Economy
A policy that assists domestic industry, including a subsidy to production, payment not to produce, price support, and other means of increasing the income of producers.
Industry:Economy
A changing pattern of comparative advantage over time due to changes in factor endowments or technology.
Industry:Economy
A form of increasing returns to scale in which average cost declines over time as producers accumulate experience, so that average product rises with total output of the firm or industry accumulated over time. See learning by doing, infant industry protection.
Industry:Economy
A term, in trade negotiations, for agreeing to accept the results of a portion of the negotiations before the rest of the negotiations are completed.
Industry:Economy
A leading Development finance institution with an overriding objective of promoting development in East Africa, EADB is a development bank for its five member countries: Burundi, Kenya, Rwanda, Tanzania, and Uganda.
Industry:Economy
A monetary policy that is expansionary, thus with low interest rates for borrowing. Contrasts with tight money.
Industry:Economy
A useful variant of the Ricardian Trade Model in which a continuum of producers or industries have randomly chosen differences in productivities. Due to Eaton and Kortum (2002).
Industry:Economy
A set of equations that have been estimated by econometric methods and that are then used, together, to forecast the economy or to calculate effects of changes in the economy. Thus, an economic model whose equations are econometrically estimated.
Industry:Economy
