All Flashcards
What is the goal of Economic Liberalization?
Boost economic growth by opening up the country's economy.
What is the goal of Import Substitution Industrialization?
Increase self-sufficiency and pursue specific domestic goals.
Define International Organization.
Organizations with multiple countries participating, aiming for diplomacy and coordination.
Define Supranational Organization.
Large bodies where member nations operate under shared rules and agreements.
What are conditionalities?
Rules that countries must follow to benefit from international organizations.
Define Economic Liberalization.
Policies like privatization, tariff reductions, and reduced subsidies.
Define Import Substitution Industrialization (ISI).
A strategy where countries focus on strengthening domestic industries to reduce imports.
What is National Sovereignty?
The full right and power of a governing body over itself, without any interference from outside sources or bodies.
What is the role of the United Nations (UN)?
Promotes international security, human rights, and development.
What is the role of the World Bank?
Provides loans to developing countries for growth.
What is the role of the International Monetary Fund (IMF)?
Works to stabilize finances and promote economic growth.
What is the role of ECOWAS?
Promotes economic integration in West Africa by reducing tariffs.
What is the role of the World Trade Organization (WTO)?
Promotes and facilitates international trade through rules.
What is the role of the European Union (EU)?
A major supranational organization with its own currency and political structure.