IEI final shahoyan
16. What happens if a party declines to comply of the findings of DSB
If a party declines to comply, the parties negotiate over compensation pending full implementation. If there is still no agreement, the DSB may authorize retaliation in the amount of the determined cost of the offending party's measure to the aggrieved party's economy.
66. Definition of informal economic institutions (why we call them informal)
Informal international economic organizations are groups of countries or organizations that collaborate and coordinate their economic policies outside of formal, legally-binding agreements or institutions.
42. What is emphasisized in industrialized policies (Universal application of standerazided projects, unique for countries, environmental factors?)
Is tailored to the specific needs of a country. Pays special attention to economic, social, and environmental sustainability. Puts the stakeholders at the center stage in the industrial development process
55. How does the european commission monitor economic development within the EU
It monitors for potential problems, such as risky or unsustainable policies or declining competitiveness, through: regular analysis of a broad range of national and international economic data forecasts for a wide-range of economic indicators such as GDP growth, inflation, and unemployment assessment of national budgets assessment of stability and convergence programs and national reform programs
2. Have to know how WTO can ensure accountability among their members
Rules and Mechanisms Dispute Settlement mechanism (DSM) Trade Policy Reviews (TPRS) Transparency and Notification Requirements
14. How does the WTO choose the panelists of DSP
The WTO chooses panelists for the Dispute Settlement Body (DSB) through a process involving consultation between disputing parties. If parties cannot agree, the Director-General selects panelists from rosters of experts in relevant fields. The panel, typically composed of three members, submits its report to the DSB for adoption. This process ensures expertise and impartiality in resolving disputes.
3. Purpose of WTO annual trade monitoring report
The WTO's annual trade monitoring report takes stock of trade-restrictive and trade-facilitating measures of the collective body of WTO members.
37. (UNIDO) What is an overarching goal of UNIDO's strategic public policy approach.
promote inclusive and sustainable industrial development (ISID).
11. DSU - Dispute settlement understanding - What does it provide for its members/how is WTO using it
provides an enforceable means for WTO members to resolve disputes arising under the binding provisions.
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62. What are the economic criteria for countries to join the EU (know exactly)
the existence of a functioning market economy the capacity to cope with competitive pressure and market forces within the Union To assess whether countries meet the economic criteria the European Commission monitors the following sub-criteria.
56. What is the purpose of the stability and growth pact in EU
to prevent the emergence or exacerbation of fiscal difficulties
35. What role do stakeholders play in UNIDO SIP approach
1. Inclusive Decision-Making: Active engagement and input. 2. Policy Formulation: Collaboration and alignment with developmental goals. 3. Implementation and Monitoring: Participation in implementation and feedback. 4. Capacity Building: Contribution to training and skills development. 5. Sustainability Considerations: Contribution to environmental and social sustainability. 6. Resource Mobilization: Contribution of financial resources and expertise. 7. Advocacy: Active promotion and advocacy for aligned policies.
27. Key characteristic of multi stakeholder approach to industrial policy making in UNIDO
A key characteristic of the multi-stakeholder approach to industrial policy making in the United Nations Industrial Development Organization (UNIDO) is the inclusion and collaboration of various stakeholders from different sectors, including governments, private sector entities, civil society organizations, and international institutions. This approach emphasizes the importance of involving diverse perspectives and expertise in the formulation and implementation of industrial policies. The aim is to create a more inclusive, transparent, and effective decision-making process that considers the interests and contributions of all relevant stakeholders, fostering a comprehensive and sustainable approach to industrial development.
44. What is a primary task during the implementation stage of SIP
As a first step this will often involve creating the institutions and coordination mechanisms for the implementation. Monitoring mechanisms must also be put in place to check the implementation process and the effects of the strategy
59. How EU addresses the risk of countries not complying with stability and convergence programs
As part of the EU's annual economic governance cycle, the Commission assesses Stability Programs and Convergence Programs both before and after implementation. This allows the Commission to identify and discuss any risks of non-compliance before they occur, and to identify any actual instances of non-compliance that could ultimately warrant sanctions.
54. What is the main advantage of businesses that operate within the eurozone
Businesses conducting business with one country in the EU now find it easier and cheaper, in many cases, to transact business with the other EU countries
12. How does DSU work when any of their members violates its obligations
Consultations: Requested by the complaining party. Request for Panel: If consultations fail, the complaining party can request a WTO panel. Panel Establishment: The Dispute Settlement Body (DSB) establishes a panel composed of experts. Panel Proceedings: The panel examines claims and defenses, issuing a report. Adoption of Report: The DSB considers and adopts the panel report, making it binding. Appeals: Parties can appeal legal issues to the Appellate Body. Implementation: Losing party implements DSB recommendations; non-compliance may lead to countermeasures. Surveillance: The DSB monitors the implementation status of recommendations and rulings.
1.Key principles of WTO
Core principles include nondiscrimination (most-favored nation treatment and national treatment), freer trade, fair competition, transparency, and encouraging development
28. (PPT) List of 5 regional economic commission in umbrella of UN
ECA: Economic Commission for Africa ECE: Economic Commission for Europe ECLAC: Economic Commission for Latin America and the Caribbean ESCAP: Economic and Social Commission for Asia and the Pacific ESCWA: Economic and Social Commission for Western Asia
30. From UNIDO's view, what do they assess to make sure it is attractive to go into a country to industrialize
Economic factors (e.g., specific economic growth effect, size and growth of the world market, competitive pressure) Social factors (e.g., the specific employment and poverty reduction effects and the inclusiveness of the growth path of industries) Environmental factors (e.g., their energy/material efficiency and resource depletion effects)
57. What is the content of stability programs and convergence programs submitted by EU member countries
Every April, EU Member States are required to lay out their fiscal plans for the next three years.
36. (Short Answer) (UNIDO) What are the three basic roles in implementing SIP projects
Facilitator: UNIDO facilitates and stimulates the dialogue on industrial development among all key public and private sector stakeholders in a country. This is done impartially. Policy Adviser: From the dialogue and its extensive experience and research, UNIDO distills recommendations for the process and content of a strategic industrial policy. Capacity Developer: UNIDO assists actors, both individually and as a group, in developing their skills, knowledge, administrative, and managerial capacities to enable them to realize the strategic industrial policy.
29. (Short Answer) Have to read last PPT of US dollar role in economic institutions
Factors contributing to diminishing role of US dollar 4-6 sentences Certainly, here is a concise list of factors contributing to the diminishing role of the U.S. dollar: Rise of Alternative Reserve Currencies: The emergence of alternative currencies like the euro and Chinese yuan provides alternatives for global trade and reserves. Diversification of Foreign Exchange Reserves: Countries seeking to reduce risk and dependency are diversifying their foreign exchange reserves away from the U.S. dollar. Geopolitical Shifts and Tensions: Global geopolitical changes and tensions motivate nations to decrease reliance on the U.S. dollar for trade and financial transactions. Use of Regional Currencies: Increased utilization of regional currencies in trade agreements reduces dependence on the U.S. dollar in certain economic regions. Development of Alternative Financial Systems: The creation of alternative financial systems, including digital currencies and payment mechanisms, diminishes the exclusive role of the U.S. dollar. Multipolar Global Monetary System: Efforts towards a more multipolar and balanced global monetary system contribute to the decline of the U.S. dollar's dominance.
51. What are the 4 main types of regional economic integration
Free trade area Customs union Common market Economic union
41. What is the role of UNIDO as a policy advisor for SIP projects
From the dialogue and its vast experience and research, UNIDO distils recommendations for the process and content of a strategic industrial policy.
67. Which institutions are informal and which institutions are informal to answer this questions
G20, which is composed of the world's 20 largest economies, World Economic Forum, Paris and London clubs of creditors
69. Have to know the cumulative GDP of bricks? And cumulative GDP of G7
G7=$46.3 trillion BRICS=$27.7 trillion
50. In addition to sustainable development which is a key focus of UNCTAD. What else do they focus on?
Research Trade Competition policy
23. How the manufacturing sector contributes to the prosperity of the nation
It provides the material basis for wealth: tools, building materials, clothing, medication, educational materials, etc.; It provides the equipment, chemicals, etc., that enable the further development of the primary sector; It generates value added by the transformation of raw materials into finished products, thus increasing earnings in domestic and export markets; It stimulates other economic activities through forward and backward linkages; It boosts incomes by its demand for new and higher skills; It stimulates the development of technological, managerial and administrative know- how, boosting productivity growth and innovation throughout the economy.
38. What is a primary concern of UNIDO when implementing a SIP project
Legitimation and Monitoring
60. Excessive deficit procedure: What can trigger the excessive deficit procedure for a member country of the EU (what is the percentage?)
Member States which run excessive budget deficits of more than 3% of GDP, or which fail to reduce their excessive debts (above 60% of GDP) at a sufficient pace, follow a particular set of rules known as the Excessive Deficit Procedure (EDP
18. How do the members of plurilateral agreements grant benefits to other WTO members
Members of plurilateral agreements in the WTO grant benefits to other members by providing them with the option to accede or join the agreement voluntarily. Non-participating members can choose to adopt the commitments and benefits of the plurilateral agreement if they decide to join later.
7. (GATS) 4 modes of delivery for services classified under GATS system
Mode 1: Cross-Border Trade (Cross-Border Supply): Mode 2: Consumption Abroad (Consumption Abroad): Mode 3: Commercial Presence (Commercial Presence): Mode 4: Presence of Natural Persons (Movement of Natural Persons):
65. What are the financial institutions that belong to "bricks?" (Look at lecture 8)
New Development Bank, Contingent Reserve Arrangement, BRICS payment system, and BRICS basket reserve currency.
13. DSB - Dispute settlement body - What is the role of this in the WTO
Oversees Dispute Resolution: Manages the entire dispute settlement process among WTO members.
17. Difference between plurilateral agreements vs multilateral agreements in WTO
Plurilateral agreements in the WTO involve only a subset of member countries that voluntarily agree to specific commitments. In contrast, multilateral agreements include all WTO member countries and cover general rules applicable to all, fostering a more comprehensive and inclusive framework for international trade.
25. Main view of last decades of government involvement in manufacturing sector
Should they be involved or not? Views on government involvement in the manufacturing sector vary. Advocates argue for strategic intervention to foster competitiveness, while others favor limited interference for market efficiency. Many countries adopt a mixed approach, recognizing the need for both. Recent challenges like the pandemic underscore the importance of government intervention for resilience. The debate revolves around finding the right balance for sustainable and inclusive economic development.
4. Have to know additional ways WTO is supporting developing countries
Standards and Trade Development Facility (STDF) The Enhanced Integrated Framework (EIF) is the only multilateral partnership dedicated exclusively to assisting least developed countries (LDCs)
31. What does strategic feasability mean for UNIDO when they are assessing industries
Strategic feasibility is derived from an analysis of current technological capabilities and other essential policy-relevant factors (education, incentives, institutions, etc.) as well as relevant country characteristics such as country size, factor endowments and population density
32. What is the purpose of doing strategic feasability analysis (UNIDO)
Strategic feasibility is derived from an analysis of current technological capabilities and other essential policy-relevant factors (education, incentives, institutions, etc.) as well as relevant country characteristics such as country size, factor endowments and population density
9. TRIPS agreement - how the relationship between intellectual property rights and development of developing countries (any exclusions?)
TRIPS includes flexibilities for developing countries allowing longer phase-in periods for implementing obligations and, separately, for pharmaceutical patent obligations—these were subsequently extended for LDCs until January 2033 or until they no longer qualify as LDCs, whichever is earlier.
10. Within the system of WTO what is called the crown jewel of the orgainzation?
The DS system, often called the "crown jewel" of the WTO, has been considered by some observers to be one of the most important successes of the multilateral trading system.
70. What is the primary focus of the future of jobs report by the world economic forum
The WEF publishes an annual report that assesses the impact of emerging technologies on the labor market.
19. What are the key features of the GPA - Government procured agreement
The GPA provides market access for various nondefense government projects to contractors of its signatories. 64 Each member specifies government entities and goods and services (with thresholds and limitations) that are open to procurement bids by foreign firms of the other GPA members. For example, the U.S. GPA market access schedules of commitments cover 85 federal-level entities and voluntary commitments by 37 states.
5.Why was the GATS created:
The General Agreement on Trade in Services (GATS) was created as a part of the Uruguay Round negotiations under the General Agreement on Tariffs and Trade (GATT), leading to the establishment of the World Trade Organization (WTO) in 1995. The GATS was developed with the primary objective of extending the multilateral trading system to cover trade in services. Several reasons contributed to the creation of the GATS
48. What is the Group of 77 (What does it mean and when was it established)
The Group of 77 (G-77) is a coalition of developing countries established in 1964 at the UNCTAD conference in Geneva. With 131 member countries, it aims to promote collective economic interests, enhance bargaining power in international forums, and address issues like trade, development, and climate change.
64. When the bricks? new development bank was established (just the date)
The New Development Bank (NDB), also known as the BRICS Development Bank, was established on July 15, 2014.
40. What is a primary focus of UNIDO as the facilitator of the SIP project
The Organization helps to initiate and stimulate the industrial development dialogue among all key public and private sector stakeholders in a country. It does so impartially.
68. Have to read about the Paris Club of creditors (what it is and how it works?)
The Paris Club is an informal group of official creditors that was established in 1956 to provide debt relief and restructuring to developing countries facing debt difficulties. The Paris Club is made up of 22 member countries, including the United States, France, Germany, Japan, and the United Kingdom. The group works together to coordinate debt restructuring efforts and to negotiate debt repayment plans with debtor countries
20. Primary reason for WTO of designing TFA
The TFA aims to address multiple trade barriers confronted by exporters and importers and reduce trade costs by streamlining, modernizing, and speeding up the customs processes for cross-border trade, as well as making it more transparent.
8. TRIPS agreement - what is the key aspect in terms of intellectual property rights
The TRIPS Agreement marked the first time multilateral trade rules incorporated intellectual property rights (IPR)—legal, private, enforceable rights that governments grant to inventors and artists to encourage innovation and creative output
34. (PPT) Content of UNCTAD reports. Will be about one of the reports
The World Investment Report covers global foreign direct investment (FDI) trends at both regional and country levels, emphasizing emerging measures to enhance its developmental impact. The report also examines global value chains and multinational enterprises, giving special attention to their implications for development. Overviews are available in all official UN languages. Each report includes: 1. Analysis of the previous year's FDI trends, with a focus on development implications. 2. Ranking of the world's largest transnational corporations. 3. In-depth analysis of a selected topic related to FDI. 4. Policy analysis and recommendations. 5. Statistical annex containing data on FDI flows and stocks at the country level. Certainly, here's a reformatted version: Least Developed Countries Report: Purpose: This annual report offers a comprehensive analysis of the economic and social conditions in the world's least developed countries (LDCs). Focus Areas: It addresses concerns such as trade, investment, structural transformation, and provides policy recommendations aimed at supporting the sustainable development of LDCs. Information Economy Report: Purpose: Published biennially, this report examines the evolving trends in the global information economy. Focus Areas: It explores the impact of information and communication technologies (ICTs) on economic development, with a specific emphasis on developing countries. The report provides policy recommendations to harness the benefits of the information economy. Technology and Innovation Report: Purpose: Released periodically, this report concentrates on the role of technology and innovation in fostering economic development. Focus Areas: It scrutinizes trends in technology and innovation globally, particularly their implications for developing countries. The report offers ins
47. Where was the first UNCTAD conference held (which year and which city)
The first UNCTAD conference was held in Geneva, Switzerland, in 1964.
72. What is the focus of the forum of taxation initiated by WEF
The forum brings together leaders from business, government, and civil society to discuss and propose solutions to tax issues, such as tax avoidance and evasion, base erosion and profit shifting, and the taxation of the digital economy.
45. What is considered as a complex task during the implementation stage of SIP
The implementation of a strategy is a complex task because of the different actors and project locations and changes in conditions that may occur over time.
24. How can the manufacturing sector stimulate economic factors of the country
The manufacturing sector can stimulate the economic factors of a country by: Job Creation: Generating employment opportunities, reducing unemployment, and improving living standards. Economic Growth: Contributing to overall economic expansion through increased production and output. Export Revenue: Generating foreign exchange through the export of manufactured goods. Innovation and Technology Transfer: Driving technological advancements, fostering innovation, and transferring know-how to other sectors. Infrastructure Development: Catalyzing infrastructure growth as manufacturing often requires reliable transportation and energy systems. Skills Development: Enhancing the skillset of the workforce and promoting human capital development. Multiplier Effect: Stimulating ancillary industries and creating forward and backward linkages throughout the economy.
46. (PPT Lecture 7) What was the initial primary motivation to create UNCTAD
The primary motivation behind the creation of UNCTAD (United Nations Conference on Trade and Development) in 1964 was to address the development challenges faced by newly independent developing countries in participating in the global trading system.
15. What is the purpose of the panel
The purpose of the panel in the WTO's Dispute Settlement Body is to impartially examine trade disputes, assess compliance with WTO agreements, and provide recommendations for resolution.
6. What does the term behind the border mean (GATS)
The term "behind the border" refers to measures or regulations that affect trade in services but are not directly related to the physical crossing of national borders. In the context of the General Agreement on Trade in Services (GATS), a key component of the World Trade Organization (WTO), "behind the border" measures are those that impact the delivery of services within a country's territory, often involving domestic regulations, policies, or practices.
61. What can be withheld from member states under Excessive deficit procedure as a form of sanction.
They also face the possibility of warnings and ultimately sanctions, such as fines that can reach 0.2% of their GDP, if they persistently fail to take adequate action to address their deficits or debts. Regional subsidies from the EU's 'cohesion fund' may also be withheld.
71. What is the purpose of the global competitiveness reports by WEF
This report provides a comprehensive assessment of the competitiveness landscape of economies around the world.
52. T/F Common Market (What does it mean?)
This type allows for the creation of economically integrated markets between member countries. Trade barriers are removed, as are any restrictions on the movement of labor and capital between member countries. Like customs unions, there is a common trade policy for trade with nonmember nations.
22. What does intersectorial change in terms of economic development
To trigger a process of sustained growth in these countries from which everyone benefits,their economies must shift away from the primary sector. This is known as inter-sectoral structural change.
33. What is the primary focus of UNIDO's strategic approach to development
UNIDO's strategic approach to development involves government interventions focusing on an intersectoral production structure, directing efforts toward areas with promising economic development prospects. The Strategic Industrial Policy Approach (SIP) assists governments in identifying and implementing interventions to guide their economies towards sustainable growth. Emphasizing economic, social, and environmental sustainability, SIP prioritizes stakeholders, placing them at the forefront of the industrial development process.
43. Short answer) (related to US influence powerpoint) List three reasons for the US to have a formal and informal influence within the IMF and World Bank
Uses of Resources Formal requirements for U.S. approval for lending decisions Staffing and Management The composition of the staff, in terms of nationality and training. Formal Structures of Voting and Power U.S. proportion of formal voting power on constitutional issues and formal requirements for any change in mandate.
39. (Short Answer) (PPT for UN organizations) about the 5 economic organizations that the UN has. Do they have a unified agena, do they have a similar goal, is there a standarized project? (4-6 sentences)
While these commissions share the common goal of promoting economic and social development, their agendas and projects are tailored to the specific needs and challenges of their respective regions. The UN system, in general, encourages coordination and collaboration among its entities, but each commission operates somewhat independently to address regional priorities effectively. There may be instances of shared projects or collaborative efforts, but there isn't a standardized project that all commissions uniformly implement due to the diversity of regional contexts.
21. Enabling Clause - How does it work? - What does it mean?
enables developed country members to grant differential and more favorable treatment to developing countries that is not extended to other members.
53. Under single europen union market what can flow free? (Goods? Capital? Labor? A combination of a bunch of them?)
goods, service, capital, and people
63. What is required for a functioning market economy (EU)
high quality of economic governance macroeconomic stability (including adequate price stability as well as sustainable public finances and external accounts) proper functioning of the goods and services market (including business environment, state influence on product markets, and privatization and restructuring) proper functioning of the financial market (including financial stability and access to finance) proper functioning of the labor market
58. What is the medium term objective (MTO) in the context of stability programs and convergence programs
is a budgetary target set for each Member State which is defined in structural terms. Member States must also set out yearly targets on the way towards the MTO and forecast the expected path of their debt-to-GDP ratio
49. What global challenges does UNCTAD analyze (particulary focusing on their impact of developing countries)
issues related to international trade, investment, finance, technology, and sustainable development. UNCTAD examines how these factors influence the economic growth, development, and well-being of developing nations, aiming to provide insights and policy recommendations to address disparities and promote inclusive and sustainable development.
