See the excellent Deardorff’s Glossary of International Economics.
| GATT | General Agreement on Trade and Tariffs (GATT) |
|---|---|
| MAI | Multilateral Agreement on Investments |
| MFN(T) | Most Favoured Nation (Treatment). Used to refer to trading relationships where country A grants country B special status. Many WTO agreements (e.g. GATS article II) explicitly prohibit this behaviour mandating that every country A must grant treatment to a foreign country no less favourable than it grants to any other. |
| NTB | Non-Tariff-Barrier (to trade). For example regulations or laws that discriminate against foreign trade. |
| Pareto Efficiency | Means the same as Pareto Optimal=A situation in which no Pareto-improving change is possible (pareto-improving=Making no one worse off and making at least one person better off). (Taken from Deardorff’s glossary - see link at top of page). |
Last Updated: 2003-Jan-31
Created: 2002-Jan-20
IP Policy