Browsing by Author "Smirnova Elena"

Now showing 1 - 2 of 2
  • Thumbnail Image
    ItemOpen Access
    THE ROLE OF INTERNATIONAL INSTITUTIONS IN THE GLOBALIZATION OF THE WORLD ECONOMY
    (The Kazakh National University Named After Al -Farabi and Suleyman Demirel University, 2008) Smirnova Elena
    For the last several decades man, countries across the globe have established close contacts. Multinational ideas and cultures circulate more freely. As a result, laws, economies, and social movements are being formed at the interational level. According to capitalist economic theory, a completely liberalized global market is the most efficient way to foster growth, because each country specializes in producing the goods and services in which it has a comparative advantage. Yet, in practice, cutting trade barriers and opening markets do not necessarily generate development. Rich countries and large corporations dominate the global marketplace and create very unequal relations of power and information. As a result, trade is inherently unequal and poor countries seldom experience rising well-being but increasing unemployment, poverty, and income inequality.
  • Thumbnail Image
    ItemOpen Access
    TRADE AGREEMENTS AND THEIR IMPORTANCE TO KAZAKHSTAN
    (The Kazakh National University Named After Al -Farabi and Suleyman Demirel University, 2008) Smirnova Elena
    Today every country thinks about increasing efficiency through free trade. Free trade is a system in which the trade of goods and services between or within two or more countries flow unconstrained by govemment-imposed restrictions. Such goverment interventions generally increase costs of goods and services to both consumers and producers. Interventions include taxes and tariffs, non-tariff barriers, such as regulatory legislation and quotas. Free trade opposes all such interventions. One of the strongest arguments for free trade was made by classical economist David Ricardo in his analysis of comparative advantage. Comparative advantage explains how trade will benefit both parties (countries, regions, or individuals) if they have different opportunity costs of production