Tag: open economy macroeconomics

The classical gold standard period is historically defined as 1870 to 1914, ending when World War I disrupted international trade and finance.

Under the Smithsonian Agreement, the US dollar was devalued against gold by approximately 8.57 percent (from 35 dollars per ounce to 38 dollars per ounce).

FOB stands for Free On Board, a term used in international shipping to indicate that the seller is responsible for the goods until they are loaded onto the shipping vessel.

A tariff is a tax or duty imposed by a government on goods imported from another country.

Quantitative restrictions refer to government-imposed limits on the quantity of specific goods that can be imported or exported during a certain period.

International reserves include gold reserves, forex reserves and a balance held with the IMF that he country can draw from with times off stress. All three help the country maintain its position on the international market and manage its balance of payment account, by influencing its exchange rate.

The share of concessional debt in total external debt of India had reduced to $18\%$ in June $2011$.

ADR stands for American Depository Receipt, which is a negotiable certificate issued by a US bank representing a specified number of shares in a foreign stock.