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Global financial system

Index Global financial system

The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. [1]

306 relations: Accounting standard, Agent (economics), Agribusiness, Allies of World War I, Amsterdam, Asia, Australia, Austria, Bailout, Balance of payments, Bank, Bank failure, Bank for International Settlements, Bank holiday, Bank of England, Bank of France, Bank regulation, Bank reserves, Bank run, Banknote, Basel Accords, Basel Committee on Banking Supervision, Basel I, Basel II, Basel III, Beggar thy neighbour, Belgium, Berlin, Black Monday (1987), Board of directors, Brazil, Bretton Woods Conference, Bretton Woods, New Hampshire, Brussels, Canada, Capital (economics), Capital account, Capital control, Capital flight, Capital gain, Capital loss, Capital requirement, Central bank, Central government, Chair of the Federal Reserve, Cobden–Chevalier Treaty, Commercial bank, Conditionality, Consumer, Council of Economic Advisers, ..., Council on Foreign Relations, Credit, Credit risk, Creditor, Currency band, Currency pair, Currency union, Current account, Debtor, Deflation, Deleveraging, Demand for money, Democratic Party (United States), Deposit insurance, Deregulation, Derivative (finance), Deutsche Bundesbank, Developing country, Development finance institution, Disaggregated sovereignty, Discount window, Dot-com bubble, Dresdner Bank, Economic bubble, Economic globalization, Economic interventionism, Economic nationalism, Emerging markets, Equity (finance), Euro, Euro convergence criteria, European Banking Authority, European Central Bank, European Currency Unit, European debt crisis, European Economic Community, European Exchange Rate Mechanism, European Monetary Institute, European System of Central Banks, European Union, Eurozone, Exchange rate, Export subsidy, Expropriation, Failed state, Federal Ministry of Finance (Germany), Federal Open Market Committee, Federal Reserve Act, Federal Reserve Bank of New York, Federal Reserve System, Financial Action Task Force on Money Laundering, Financial capital, Financial centre, Financial crisis, Financial crisis of 2007–2008, Financial integration, Financial intermediary, Financial regulation, Financial risk, Financial services, Financial Stability Board, Financial Stability Forum, Fiscal policy, Fixed exchange-rate system, Floating exchange rate, Foreign direct investment, Foreign exchange controls, Foreign exchange market, France, Franklin D. Roosevelt, Free trade, Free-trade area, French franc, G20, General Agreement on Trade in Services, Geneva, Geopolitics, George B. Cortelyou, German tariff of 1879, Germany, Global governance, Global imbalances, Global recession, Gold reserve, Government of the United Kingdom, Governor of the Bank of Canada, Governor of the Bank of England, Gramm–Leach–Bliley Act, Great Depression, Great Recession, Gross world product, Group of Eight, Group of Five, Group of Ten (economics), Group of Thirty, Hard currency, Henry Ford, Herbert Hoover, Herd behavior, Human migration, Hungary, Hyperinflation, Institute of International Finance, Institutional investor, Intergovernmental organization, International Accounting Standards Board, International Association of Insurance Supervisors, International Bank for Reconstruction and Development, International business, International Civil Aviation Organization, International Development Association, International economics, International finance, International financial institutions, International Monetary Fund, International monetary systems, International Organization of Securities Commissions, International trade, International Trade Organization, Investment, Investment banking, ISO 4217, J. P. Morgan, Japan, John Maynard Keynes, Joseph Stiglitz, Knickerbocker Trust Company, Landline, Latin American debt crisis, Léon Blum, Lender of last resort, London, London Club, London Stock Exchange, Louvre Accord, Maastricht Treaty, Managed float regime, Mark Carney, Market liquidity, Marrakesh Agreement, Maturity (finance), Méline tariff, Member of Congress, Merchant bank, Mexican peso crisis, Minister of Finance (Canada), Monetary policy, Money laundering, Money market, Money supply, Money trust, Moral hazard, Multilateral trade negotiations, Multilateralism, Multinational corporation, Nationalization, Netherlands, New York City, Niche market, Nixon shock, Non-performing asset, Open market operation, Otto von Bismarck, Outline of finance, Over-the-counter (finance), Panic of 1907, Paris, Paris Club, Paul Volcker, PBS, Pennsylvania, Petrodollar recycling, PIGS (economics), Pittsburgh, Plaza Accord, Poland, Political risk, Pound sterling, President of the United States, Prime Minister of France, Property rights (economics), Protectionism, Pujo Committee, Radio, Real estate investment trust, Rediscount, Refinancing, Remittance, Republican Party (United States), Reserve currency, Richard Nixon, Robert Triffin, Ronald Reagan, Russia, Sailing ship, Secondary mortgage market, Securitization, Security (finance), Self-regulatory organization, Seoul, September 11 attacks, Shadow banking system, Smithsonian Agreement, Smoot–Hawley Tariff Act, Snake in the tunnel, South Korea, Special drawing rights, Speculative attack, Stability and Growth Pact, Steamboat, Structured product, Sudden stop (economics), Sweden, Switzerland, Telecommunication, Telephone, Terrorism financing, Tonnage, Trade finance, Transatlantic telegraph cable, Transparency (market), Treaty, Treaty of Versailles, Triffin dilemma, Unemployment, United Kingdom, United Nations, United States, United States Congress, United States dollar, United States Secretary of the Treasury, Uruguay Round, Valuation risk, Veto, Vietnam War, Volatility (finance), Wall Street, Wall Street Crash of 1929, Weapon, William C. Dudley, Wireless telegraphy, Wolfgang Schäuble, World Bank, World Bank Chief Economist, World Economic Forum, World economy, World Federation of Exchanges, World War I, World War II, Zürich, 1970s energy crisis, 1997 Asian financial crisis, 1998 Russian financial crisis, 1998–2002 Argentine great depression, 2010 G20 Seoul summit, 2012–13 Cypriot financial crisis. Expand index (256 more) »

Accounting standard

Financial statements prepared and presented by a company typically follow an external standard that specifically guides their preparation.

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Agent (economics)

In economics, an agent is an actor and more specifically a decision maker in a model of some aspect of the economy.

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Agribusiness

Agribusiness is the business of agricultural production.

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Allies of World War I

The Allies of World War I, or Entente Powers, were the countries that opposed the Central Powers in the First World War.

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Amsterdam

Amsterdam is the capital and most populous municipality of the Netherlands.

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Asia

Asia is Earth's largest and most populous continent, located primarily in the Eastern and Northern Hemispheres.

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Australia

Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands.

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Austria

Austria (Österreich), officially the Republic of Austria (Republik Österreich), is a federal republic and a landlocked country of over 8.8 million people in Central Europe.

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Bailout

A bailout is a colloquial term for the provision of financial help to a corporation or country which otherwise would be on the brink of failure or bankruptcy.

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Balance of payments

The balance of payments, also known as balance of international payments and abbreviated B.O.P. or BoP, of a country is the record of all economic transactions between the residents of the country and of the world in a particular period (over a quarter of a year or more commonly over a year).

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Bank

A bank is a financial institution that accepts deposits from the public and creates credit.

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Bank failure

A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities.

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Bank for International Settlements

The Bank for International Settlements (BIS) is an international financial institution owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks".

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Bank holiday

A bank holiday is a public holiday in the United Kingdom, some Commonwealth countries, Hong Kong and the Republic of Ireland.

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Bank of England

The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the United Kingdom of Great Britain and Northern Ireland and the model on which most modern central banks have been based.

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Bank of France

The Bank of France known in French as the Banque de France, headquartered in Paris, is the central bank of France; it is linked to the European Central Bank (ECB).

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Bank regulation

Bank regulation is a form of government regulation which subjects banks to certain requirements, restrictions and guidelines, designed to create market transparency between banking institutions and the individuals and corporations with whom they conduct business, among other things.

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Bank reserves

Bank reserves are a commercial banks' holdings of deposits in accounts with a central bank (for instance the European Central Bank or the applicable branch bank of the Federal Reserve System, in the latter case including federal funds), plus currency that is physically held in the bank's vault ("vault cash").

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Bank run

A bank run (also known as a run on the bank) occurs when a large number of people withdraw their money from a bank, because they believe the bank may cease to function in the near future.

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Banknote

A banknote (often known as a bill, paper money, or simply a note) is a type of negotiable promissory note, made by a bank, payable to the bearer on demand.

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Basel Accords

The Basel Accords (see alternative spellings below) refer to the banking supervision Accords (recommendations on banking regulations)—Basel I, Basel II and Basel III—issued by the Basel Committee on Banking Supervision (BCBS).

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Basel Committee on Banking Supervision

The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974.

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Basel I

Basel I is the round of deliberations by central bankers from around the world, and in 1988, the Basel Committee on Banking Supervision (BCBS) in Basel, Switzerland, published a set of minimum capital requirements for banks.

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Basel II

Basel II is the second of the Basel Accords, (now extended and partially superseded by Basel III), which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision.

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Basel III

Basel III (or the Third Basel Accord or Basel Standards) is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.

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Beggar thy neighbour

In economics, a beggar-thy-neighbour policy is an economic policy through which one country attempts to remedy its economic problems by means that tend to worsen the economic problems of other countries.

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Belgium

Belgium, officially the Kingdom of Belgium, is a country in Western Europe bordered by France, the Netherlands, Germany and Luxembourg.

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Berlin

Berlin is the capital and the largest city of Germany, as well as one of its 16 constituent states.

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Black Monday (1987)

In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed.

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Board of directors

A board of directors is a recognized group of people who jointly oversee the activities of an organization, which can be either a for-profit business, nonprofit organization, or a government agency.

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Brazil

Brazil (Brasil), officially the Federative Republic of Brazil (República Federativa do Brasil), is the largest country in both South America and Latin America.

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Bretton Woods Conference

The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel, situated in Bretton Woods, New Hampshire, United States, to regulate the international monetary and financial order after the conclusion of World War II.

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Bretton Woods, New Hampshire

Bretton Woods is an area within the town of Carroll, New Hampshire, United States, whose principal points of interest are three leisure and recreation facilities.

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Brussels

Brussels (Bruxelles,; Brussel), officially the Brussels-Capital Region (All text and all but one graphic show the English name as Brussels-Capital Region.) (Région de Bruxelles-Capitale, Brussels Hoofdstedelijk Gewest), is a region of Belgium comprising 19 municipalities, including the City of Brussels, which is the de jure capital of Belgium.

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Canada

Canada is a country located in the northern part of North America.

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Capital (economics)

In economics, capital consists of an asset that can enhance one's power to perform economically useful work.

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Capital account

In macroeconomics and international finance, the capital account (also known as the financial account) is one of two primary components of the balance of payments, the other being the current account.

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Capital control

Capital controls are residency-based measures such as transaction taxes, other limits, or outright prohibitions that a nation's government can use to regulate flows from capital markets into and out of the country's capital account.

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Capital flight

Capital flight, in economics, occurs when assets or money rapidly flow out of a country, due to an event of economic consequence.

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Capital gain

A capital gain refers to profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price.

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Capital loss

Capital loss is the difference between a lower selling price and a higher purchase price, resulting in a financial loss for the seller.

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Capital requirement

Capital requirement (also known as regulatory capital or capital adequacy) is the amount of capital a bank or other financial institution has to hold as required by its financial regulator.

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Central bank

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.

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Central government

A central government is the government of a nation-state and is a characteristic of a unitary state.

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Chair of the Federal Reserve

The Chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, which is the central banking system of the United States.

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Cobden–Chevalier Treaty

The Cobden–Chevalier Treaty was an Anglo-French free trade agreement signed between the United Kingdom and France on 23 January 1860.

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Commercial bank

A commercial bank is an institution that provides services such as accepting deposits, providing business loans, and offering basic investment products.

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Conditionality

In political economy and international relations, conditionality is the use of conditions attached to the provision of benefits such as a loan, debt relief or bilateral aid.

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Consumer

A consumer is a person or organization that use economic services or commodities.

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Council of Economic Advisers

The Council of Economic Advisers (CEA) is a United States agency within the Executive Office of the President established in 1946, which advises the President of the United States on economic policy.

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Council on Foreign Relations

The Council on Foreign Relations (CFR), founded in 1921, is a United States nonprofit think tank specializing in U.S. foreign policy and international affairs.

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Credit

Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead promises either to repay or return those resources (or other materials of equal value) at a later date.

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Credit risk

A credit risk is the risk of default on a debt that may arise from a borrower failing to make required payments.

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Creditor

A creditor is a party (for example, person, organization, company, or government) that has a claim on the services of a second party.

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Currency band

A currency band is a range of values for the exchange rate for a country’s currency which the country’s central bank acts to keep the exchange rate within.

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Currency pair

A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.

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Currency union

A currency union (also known as monetary union) involves two or more states sharing the same currency without them necessarily having any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market).

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Current account

In economics, a country's current account is one of the two components of its balance of payments, the other being the capital account (also known as the financial account).

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Debtor

A debtor is an entity that owes a debt to another entity.

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Deflation

In economics, deflation is a decrease in the general price level of goods and services.

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Deleveraging

At the micro-economic level, deleveraging refers to the reduction of the leverage ratio, or the percentage of debt in the balance sheet of a single economic entity, such as a household or a firm.

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Demand for money

In monetary economics, the demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits rather than investments.

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Democratic Party (United States)

The Democratic Party is one of the two major contemporary political parties in the United States, along with the Republican Party (nicknamed the GOP for Grand Old Party).

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Deposit insurance

Explicit deposit insurance is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due.

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Deregulation

Deregulation is the process of removing or reducing state regulations, typically in the economic sphere.

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Derivative (finance)

In finance, a derivative is a contract that derives its value from the performance of an underlying entity.

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Deutsche Bundesbank

The Deutsche Bundesbank is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB).

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Developing country

A developing country (or a low and middle income country (LMIC), less developed country, less economically developed country (LEDC), underdeveloped country) is a country with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.

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Development finance institution

A development finance institution (DFI) or development bank is a financial institution which includes multilateral development banks, bilateral development banks, microfinance institutions, community development financial institution and revolving loan funds.

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Disaggregated sovereignty

Disaggregated sovereignty refers to the need for broad strategic cooperation on critical issues requiring the ceding of sovereignty from several sovereign entities to new institutions without creating a centralized authority or "government." Some people argue that this is the de facto situation of global governance and actually more desirable than the creation of a single world government.

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Discount window

The discount window is an instrument of monetary policy (usually controlled by central banks) that allows eligible institutions to borrow money from the central bank, usually on a short-term basis, to meet temporary shortages of liquidity caused by internal or external disruptions.

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Dot-com bubble

The dot-com bubble (also known as the dot-com boom, the dot-com crash, the Y2K crash, the Y2K bubble, the tech bubble, the Internet bubble, the dot-com collapse, and the information technology bubble) was a historic economic bubble and period of excessive speculation that occurred roughly from 1997 to 2001, a period of extreme growth in the usage and adaptation of the Internet.

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Dresdner Bank

Dresdner Bank AG was one of Germany's largest banking corporations and was based in Frankfurt.

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Economic bubble

An economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value.

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Economic globalization

Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization.

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Economic interventionism

Economic interventionism (sometimes state interventionism) is an economic policy perspective favoring government intervention in the market process to correct the market failures and promote the general welfare of the people.

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Economic nationalism

Economic nationalism, or economic patriotism, refers to an ideology that favors state interventionism in the economy, with policies that emphasize domestic control of the economy, labor, and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital.

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Emerging markets

An emerging market is a country that has some characteristics of a developed market, but does not meet standards to be a developed market.

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Equity (finance)

In accounting, equity (or owner's equity) is the difference between the value of the assets and the value of the liabilities of something owned.

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Euro

The euro (sign: €; code: EUR) is the official currency of the European Union.

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Euro convergence criteria

The euro convergence criteria (also known as the Maastricht criteria) are the criteria which European Union member states are required to meet to enter the third stage of the Economic and Monetary Union (EMU) and adopt the euro as their currency.

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European Banking Authority

The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in London.

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European Central Bank

The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the euro area, which consists of 19 EU member states and is one of the largest currency areas in the world.

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European Currency Unit

The European Currency Unit (₠ or ECU) was a basket of the currencies of the European Community member states, used as the unit of account of the European Community before being replaced by the euro on 1 January 1999, at parity.

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European debt crisis

The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009.

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European Economic Community

The European Economic Community (EEC) was a regional organisation which aimed to bring about economic integration among its member states.

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European Exchange Rate Mechanism

The European Exchange Rate Mechanism (ERM) was a system introduced by the European Economic Community on 13 March 1979, as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single currency, the euro, which took place on 1 January 1999.

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European Monetary Institute

The European Monetary Institute (EMI) was the forerunner of the European Central Bank (ECB), operating between 1994 and 1997.

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European System of Central Banks

The European System of Central Banks (ESCB) consists of the European Central Bank (ECB) and the national central banks (NCBs) of all 28 member states of the European Union (EU).

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European Union

The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.

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Eurozone

No description.

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Exchange rate

In finance, an exchange rate is the rate at which one currency will be exchanged for another.

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Export subsidy

Export subsidy is a government policy to encourage export of goods and discourage sale of goods on the domestic market through direct payments, low-cost loans, tax relief for exporters, or government-financed international advertising.

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Expropriation

The process of expropriation "occurs when a public agency (for example, the provincial government and its agencies, regional districts, municipalities, school boards, post-secondary institutions and utilities) takes private property for a purpose deemed to be in the public interest".

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Failed state

A failed state is a political body that has disintegrated to a point where basic conditions and responsibilities of a sovereign government no longer function properly (see also fragile state and state collapse).

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Federal Ministry of Finance (Germany)

The Federal Ministry of Finance (Bundesministerium der Finanzen), abbreviated BMF, is the cabinet-level finance ministry of Germany, with its seat at the Detlev-Rohwedder-Haus in Berlin and a secondary office in Bonn.

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Federal Open Market Committee

The Federal Open Market Committee (FOMC), a committee within the Federal Reserve System (the Fed), is charged under the United States law with overseeing the nation's open market operations (e.g., the Fed's buying and selling of United States Treasury securities).

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Federal Reserve Act

The Federal Reserve Act (ch. 6,, enacted December 23, 1913) is an Act of Congress that created and established the Federal Reserve System (the central banking system of the United States), and which created the authority to issue Federal Reserve Notes (commonly known as the US Dollar) as legal tender.

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Federal Reserve Bank of New York

The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Financial Action Task Force on Money Laundering

The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.

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Financial capital

Financial capital is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, i.e. retail, corporate, investment banking, etc.

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Financial centre

A financial centre is a location that is home to a cluster of nationally or internationally significant financial services providers such as banks, investment managers, or stock exchanges.

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Financial crisis

A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Financial integration

Financial integration is a phenomenon in which financial markets in neighboring, regional and/or global economies are closely linked together.

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Financial intermediary

A financial intermediary is an institution or individual that serves as a middleman among diverse parties in order to facilitate financial transactions.

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Financial regulation

Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system.

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Financial risk

Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default.

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Financial services

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises.

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Financial Stability Board

The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system.

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Financial Stability Forum

The Financial Stability Forum (FSF) was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies.

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Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.

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Fixed exchange-rate system

A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime where a currency's value is fixed against either the value of another single currency, to a basket of other currencies, or to another measure of value, such as gold.

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Floating exchange rate

A floating exchange rate (also called a fluctuating or flexible exchange rate) is a type of exchange-rate regime in which a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms.

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Foreign direct investment

A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country.

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Foreign exchange controls

Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents.

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Foreign exchange market

The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies.

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France

France, officially the French Republic (République française), is a sovereign state whose territory consists of metropolitan France in Western Europe, as well as several overseas regions and territories.

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Franklin D. Roosevelt

Franklin Delano Roosevelt Sr. (January 30, 1882 – April 12, 1945), often referred to by his initials FDR, was an American statesman and political leader who served as the 32nd President of the United States from 1933 until his death in 1945.

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Free trade

Free trade is a free market policy followed by some international markets in which countries' governments do not restrict imports from, or exports to, other countries.

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Free-trade area

A free-trade area is the region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA).

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French franc

The franc (sign: F or Fr), also commonly distinguished as the (FF), was a currency of France.

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G20

The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States and the European Union.

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General Agreement on Trade in Services

The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organization (WTO) that entered into force in January 1995 as a result of the Uruguay Round negotiations.

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Geneva

Geneva (Genève, Genèva, Genf, Ginevra, Genevra) is the second-most populous city in Switzerland (after Zürich) and the most populous city of the Romandy, the French-speaking part of Switzerland.

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Geopolitics

Geopolitics (from Greek γῆ gê "earth, land" and πολιτική politikḗ "politics") is the study of the effects of geography (human and physical) on politics and international relations.

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George B. Cortelyou

George Bruce Cortelyou (July 26, 1862October 23, 1940) was an American Cabinet secretary of the early twentieth century.

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German tariff of 1879

The German tariff of 1879 was a protectionist law passed by the Reichstag (under the guidance of Chancellor Otto von Bismarck) that imposed tariffs on industrial and agricultural imports into Imperial Germany.

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Germany

Germany (Deutschland), officially the Federal Republic of Germany (Bundesrepublik Deutschland), is a sovereign state in central-western Europe.

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Global governance

Global governance or world governance is a movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region.

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Global imbalances

Global imbalances refers to the situation where some countries have more assets than the other countries.

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Global recession

A global recession is recession that affects many countries around the world—that is, a period of global economic slowdown or declining economic output.

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Gold reserve

A gold reserve was the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency.

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Government of the United Kingdom

The Government of the United Kingdom, formally referred to as Her Majesty's Government, is the central government of the United Kingdom of Great Britain and Northern Ireland.

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Governor of the Bank of Canada

The Governor of the Bank of Canada is chief executive officer and the chairman of the board of directors of the Bank of Canada; the incumbent governor is Stephen S. Poloz, who assumed the office on June 3, 2013.

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Governor of the Bank of England

The Governor of the Bank of England is the most senior position in the Bank of England.

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Gramm–Leach–Bliley Act

The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, is an act of the 106th United States Congress (1999–2001).

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Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Great Recession

The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s.

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Gross world product

The gross world product (GWP) is the combined gross national product of all the countries in the world.

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Group of Eight

The G8, reformatted as G7 from 2014 due to the suspension of Russia's participation, was an inter-governmental political forum from 1997 until 2014, with the participation of some major industrialized countries in the world, that viewed themselves as democracies.

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Group of Five

The Group of Five (G5) encompasses five nations which have joined together for an active role in the rapidly evolving international order.

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Group of Ten (economics)

The Group of Ten (G-10 or G10) refers to the group of countries that agreed to participate in the General Arrangements to Borrow (GAB), an agreement to provide the International Monetary Fund (IMF) with additional funds to increase its lending ability.

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Group of Thirty

The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues.

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Hard currency

Hard currency, safe-haven currency or strong currency is any globally traded currency that serves as a reliable and stable store of value.

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Henry Ford

Henry Ford (July 30, 1863 – April 7, 1947) was an American captain of industry and a business magnate, the founder of the Ford Motor Company, and the sponsor of the development of the assembly line technique of mass production.

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Herbert Hoover

Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American engineer, businessman and politician who served as the 31st President of the United States from 1929 to 1933 during the Great Depression.

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Herd behavior

Herd behavior describes how individuals in a group can act collectively without centralized direction.

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Human migration

Human migration is the movement by people from one place to another with the intentions of settling, permanently or temporarily in a new location.

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Hungary

Hungary (Magyarország) is a country in Central Europe that covers an area of in the Carpathian Basin, bordered by Slovakia to the north, Ukraine to the northeast, Austria to the northwest, Romania to the east, Serbia to the south, Croatia to the southwest, and Slovenia to the west.

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Hyperinflation

In economics, hyperinflation is very high and typically accelerating inflation.

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Institute of International Finance

The Institute of International Finance, Inc. (IIF) is a global association or trade group of financial institutions.

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Institutional investor

An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans.

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Intergovernmental organization

An intergovernmental organization or international governmental organisation (IGO) is an organization composed primarily of sovereign states (referred to as member states), or of other intergovernmental organizations.

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International Accounting Standards Board

The International Accounting Standards Board (IASB) is the independent, accounting standard-setting body of the IFRS Foundation.

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International Association of Insurance Supervisors

The International Association of Insurance Supervisors (IAIS) is a voluntary membership-driven standards-setting organization of insurance supervisors and regulators from over 190 jurisdictions in more than 140 countries.

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International Bank for Reconstruction and Development

The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries.

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International business

International business refers to the trade of goods, services, technology, capital and/or knowledge at a global level.

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International Civil Aviation Organization

The International Civil Aviation Organization (ICAO Organisation de l'aviation civile internationale, OACI), is a specialized agency of the United Nations.

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International Development Association

The International Development Association (IDA) is an international financial institution which offers concessional loans and grants to the world's poorest developing countries.

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International economics

International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them.

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International finance

International finance (also referred to as international monetary economics or international macroeconomics) is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries.

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International financial institutions

An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence are subjects of international law.

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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International monetary systems

International monetary systems are sets of internationally agreed rules, conventions and supporting institutions, that facilitate international trade, cross border investment and generally the reallocation of capital between nation states.

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International Organization of Securities Commissions

The International Organisation of Securities Commissions (IOSCO) is an association of organisations that regulate the world’s securities and futures markets.

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International trade

International trade is the exchange of capital, goods, and services across international borders or territories.

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International Trade Organization

The International Trade Organization (ITO) was the proposed name for an international institution for the regulation of trade.

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Investment

In general, to invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future – for example, investment in durable goods, in real estate by the service industry, in factories for manufacturing, in product development, and in research and development.

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Investment banking

An investment bank is typically a private company that provides various finance-related and other services to individuals, corporations, and governments such as raising financial capital by underwriting or acting as the client's agent in the issuance of securities.

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ISO 4217

ISO 4217 is a standard first published by International Organization for Standardization in 1978, which delineates currency designators, country codes (alpha and numeric), and references to minor units in three tables.

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J. P. Morgan

John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American financier and banker who dominated corporate finance and industrial consolidation in the United States of America in the late 19th and early 20th centuries.

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Japan

Japan (日本; Nippon or Nihon; formally 日本国 or Nihon-koku, lit. "State of Japan") is a sovereign island country in East Asia.

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

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Joseph Stiglitz

Joseph Eugene Stiglitz (born February 9, 1943) is an American economist and a professor at Columbia University.

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Knickerbocker Trust Company

The Knickerbocker Trust was an American bank based in New York.

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Landline

A landline telephone (also known as land line, land-line, main line, home phone, landline, fixed-line, and wireline) is a phone that uses a metal wire or optical fiber telephone line for transmission as distinguished from a mobile cellular line, which uses radio waves for transmission.

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Latin American debt crisis

The Latin American debt crisis (Crisis de la deuda latinoamericana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as the "lost decade", when Latin American countries reached a point where their foreign debt exceeded their earning power and they were not able to repay it.

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Léon Blum

André Léon Blum (9 April 1872 – 30 March 1950) was a French politician, identified with the moderate left, and three times Prime Minister of France.

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Lender of last resort

A lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market and other facilities or sources have been exhausted.

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London

London is the capital and most populous city of England and the United Kingdom.

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London Club

The London Club is an informal group of private creditors on the international stage, and is similar to the Paris Club of public lenders.

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London Stock Exchange

The London Stock Exchange (LSE) is a stock exchange located in the City of London, England.

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Louvre Accord

The Louvre Accord was an agreement, signed on February 22, 1987 in Paris, that aimed to stabilize the international currency markets and halt the continued decline of the US Dollar caused by the Plaza Accord.

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Maastricht Treaty

The Treaty on European Union (TEU; also referred to as the Treaty of Maastricht is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on the Functioning of the European Union (TFEU; also referred to as the Treaty of Rome). The TEU was originally signed on 7 February 1992 by the members of the European Community in Maastricht, Netherlands to further European integration. On 9–10 December 1991, the same city hosted the European Council which drafted the treaty. Upon its entry into force on 1 November 1993 during the Delors Commission, it created the three pillars structure of the European Union and led to the creation of the single European currency, the euro. TEU comprised two novel titles respectively on Common Foreign and Security Policy and Cooperation in the Fields of Justice and Home Affairs, which replaced the former informal intergovernmental cooperation bodies named TREVI and European Political Cooperation on EU Foreign policy coordination. In addition TEU also comprised three titles which amended the three pre-existing community treaties: Treaty establishing the European Atomic Energy Community, Treaty establishing the European Coal and Steel Community, and the Treaty establishing the European Economic Community which had its abbreviation renamed from TEEC to TEC (being known as TFEU since 2007). The Maastricht Treaty (TEU) and all pre-existing treaties, has subsequently been further amended by the treaties of Amsterdam (1997), Nice (2001) and Lisbon (2009).

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Managed float regime

Managed float regime is the current international financial environment in which exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies.

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Mark Carney

Mark Joseph Carney, (born March 16, 1965) is a Canadian economist and the Governor of the Bank of England and Chairman of the G20's Financial Stability Board.

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Market liquidity

In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price.

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Marrakesh Agreement

The Marrakesh Agreement, manifested by the Marrakesh Declaration, was an agreement signed in Marrakesh, Morocco, by 124 nations on 15 April 1994, marking the culmination of the 8-year-long Uruguay Round and establishing the World Trade Organization, which officially came into being on 1 January 1995.

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Maturity (finance)

In finance, maturity or maturity date refers to the final payment date of a loan or other financial instrument, at which point the principal (and all remaining interest) is due to be paid.

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Méline tariff

The Méline tariff was a French protectionist measure introduced in 1892.

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Member of Congress

A Member of Congress (MOC) is a person who has been appointed or elected and inducted into an official body called a congress, typically to represent a particular constituency in a legislature.

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Merchant bank

A merchant bank is historically a bank dealing in commercial loans and investment.

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Mexican peso crisis

The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.

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Minister of Finance (Canada)

The Minister of Finance (Ministre des Finances) is the Minister of the Crown in the Canadian Cabinet who is responsible each year for presenting the federal government's budget.

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Monetary policy

Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

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Money laundering

Money laundering is the act of concealing the transformation of profits from illegal activities and corruption into ostensibly "legitimate" assets.

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Money market

As money became a commodity, the money market became a component of the financial markets for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.

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Money supply

In economics, the money supply (or money stock) is the total value of monetary assets available in an economy at a specific time.

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Money trust

The main belief behind the concept of a money trust is that the majority of the world's financial wealth and political power could be controlled by a powerful few.

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Moral hazard

In economics, moral hazard occurs when someone increases their exposure to risk when insured.

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Multilateral trade negotiations

The term multilateral trade negotiations initially applied to negotiations between General Agreement on Tariffs and Trade (GATT) member nations conducted under the auspices of the GATT and aimed at reducing tariff and nontariff trade barriers.

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Multilateralism

In international relations, multilateralism refers to an alliance of multiple countries pursuing a common goal.

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Multinational corporation

A multinational corporation (MNC) or worldwide enterprise is a corporate organization that owns or controls production of goods or services in at least one country other than its home country.

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Nationalization

Nationalization (or nationalisation) is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state.

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Netherlands

The Netherlands (Nederland), often referred to as Holland, is a country located mostly in Western Europe with a population of seventeen million.

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New York City

The City of New York, often called New York City (NYC) or simply New York, is the most populous city in the United States.

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Niche market

A niche market is the subset of the market on which a specific product is focused.

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Nixon shock

The Nixon shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct international convertibility of the United States dollar to gold.

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Non-performing asset

A Non-performing asset (NPA) is defined as a credit facility in respect of which the interest and/or installment of principal has remained ‘past due’ for a specified period of time.

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Open market operation

An open market operation (OMO) is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks.

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Otto von Bismarck

Otto Eduard Leopold, Prince of Bismarck, Duke of Lauenburg (1 April 1815 – 30 July 1898), known as Otto von Bismarck, was a conservative Prussian statesman who dominated German and European affairs from the 1860s until 1890 and was the first Chancellor of the German Empire between 1871 and 1890.

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Outline of finance

The following outline is provided as an overview of and topical guide to finance: Finance – addresses the ways in which individuals and organizations raise and allocate monetary resources over time, taking into account the risks entailed in their projects.

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Over-the-counter (finance)

Over-the-counter (OTC) or off-exchange trading is done directly between two parties, without the supervision of an exchange.

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Panic of 1907

The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a United States financial crisis that took place over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year.

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Paris

Paris is the capital and most populous city of France, with an area of and a population of 2,206,488.

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Paris Club

The Paris Club (Club de Paris) is a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.

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Paul Volcker

Paul Adolph Volcker Jr. (born September 5, 1927) is an American economist.

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PBS

The Public Broadcasting Service (PBS) is an American public broadcaster and television program distributor.

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Pennsylvania

Pennsylvania (Pennsylvania German: Pennsylvaani or Pennsilfaani), officially the Commonwealth of Pennsylvania, is a state located in the northeastern and Mid-Atlantic regions of the United States.

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Petrodollar recycling

Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars").

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PIGS (economics)

PIGS is an acronym used in economics and finance.

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Pittsburgh

Pittsburgh is a city in the Commonwealth of Pennsylvania in the United States, and is the county seat of Allegheny County.

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Plaza Accord

The Plaza Accord or Plaza Agreement was an agreement between the governments of France, West Germany, Japan, the United States, and the United Kingdom, to depreciate the U.S. dollar in relation to the Japanese yen and German Deutsche Mark by intervening in currency markets.

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Poland

Poland (Polska), officially the Republic of Poland (Rzeczpospolita Polska), is a country located in Central Europe.

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Political risk

Political risk is a type of risk faced by investors, corporations, and governments that political decisions, events, or conditions will significantly affect the profitability of a business actor or the expected value of a given economic action.

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Pound sterling

The pound sterling (symbol: £; ISO code: GBP), commonly known as the pound and less commonly referred to as Sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha.

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President of the United States

The President of the United States (POTUS) is the head of state and head of government of the United States of America.

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Prime Minister of France

The French Prime Minister (Premier ministre français) in the Fifth Republic is the head of government.

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Property rights (economics)

Property rights are theoretical socially-enforced constructs in economics for determining how a resource or economic good is used and owned.

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Protectionism

Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.

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Pujo Committee

The Pujo Committee was a United States congressional subcommittee in 1912–1913 that was formed to investigate the so-called "money trust", a community of Wall Street bankers and financiers that exerted powerful control over the nation's finances.

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Radio

Radio is the technology of using radio waves to carry information, such as sound, by systematically modulating properties of electromagnetic energy waves transmitted through space, such as their amplitude, frequency, phase, or pulse width.

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Real estate investment trust

A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate.

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Rediscount

Rediscount can refer to either of two concepts in finance: discounting a debt instrument for a second time or a method of providing financing to a bank.

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Refinancing

Refinancing is the replacement of an existing debt obligation with another debt obligation under different terms.

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Remittance

A remittance is a transfer of money by a foreign worker to an individual in their home country.

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Republican Party (United States)

The Republican Party, also referred to as the GOP (abbreviation for Grand Old Party), is one of the two major political parties in the United States, the other being its historic rival, the Democratic Party.

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Reserve currency

A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves.

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Richard Nixon

Richard Milhous Nixon (January 9, 1913 – April 22, 1994) was an American politician who served as the 37th President of the United States, serving from 1969 until 1974, when he resigned from office, the only U.S. president to do so.

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Robert Triffin

Robert Triffin (5 October 1911 – 23 February 1993) was a Belgian American economist best known for his critique of the Bretton Woods system of fixed currency exchange rates.

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Ronald Reagan

Ronald Wilson Reagan (February 6, 1911 – June 5, 2004) was an American politician and actor who served as the 40th President of the United States from 1981 to 1989.

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Russia

Russia (rɐˈsʲijə), officially the Russian Federation (p), is a country in Eurasia. At, Russia is the largest country in the world by area, covering more than one-eighth of the Earth's inhabited land area, and the ninth most populous, with over 144 million people as of December 2017, excluding Crimea. About 77% of the population live in the western, European part of the country. Russia's capital Moscow is one of the largest cities in the world; other major cities include Saint Petersburg, Novosibirsk, Yekaterinburg and Nizhny Novgorod. Extending across the entirety of Northern Asia and much of Eastern Europe, Russia spans eleven time zones and incorporates a wide range of environments and landforms. From northwest to southeast, Russia shares land borders with Norway, Finland, Estonia, Latvia, Lithuania and Poland (both with Kaliningrad Oblast), Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia and North Korea. It shares maritime borders with Japan by the Sea of Okhotsk and the U.S. state of Alaska across the Bering Strait. The East Slavs emerged as a recognizable group in Europe between the 3rd and 8th centuries AD. Founded and ruled by a Varangian warrior elite and their descendants, the medieval state of Rus arose in the 9th century. In 988 it adopted Orthodox Christianity from the Byzantine Empire, beginning the synthesis of Byzantine and Slavic cultures that defined Russian culture for the next millennium. Rus' ultimately disintegrated into a number of smaller states; most of the Rus' lands were overrun by the Mongol invasion and became tributaries of the nomadic Golden Horde in the 13th century. The Grand Duchy of Moscow gradually reunified the surrounding Russian principalities, achieved independence from the Golden Horde. By the 18th century, the nation had greatly expanded through conquest, annexation, and exploration to become the Russian Empire, which was the third largest empire in history, stretching from Poland on the west to Alaska on the east. Following the Russian Revolution, the Russian Soviet Federative Socialist Republic became the largest and leading constituent of the Union of Soviet Socialist Republics, the world's first constitutionally socialist state. The Soviet Union played a decisive role in the Allied victory in World War II, and emerged as a recognized superpower and rival to the United States during the Cold War. The Soviet era saw some of the most significant technological achievements of the 20th century, including the world's first human-made satellite and the launching of the first humans in space. By the end of 1990, the Soviet Union had the world's second largest economy, largest standing military in the world and the largest stockpile of weapons of mass destruction. Following the dissolution of the Soviet Union in 1991, twelve independent republics emerged from the USSR: Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and the Baltic states regained independence: Estonia, Latvia, Lithuania; the Russian SFSR reconstituted itself as the Russian Federation and is recognized as the continuing legal personality and a successor of the Soviet Union. It is governed as a federal semi-presidential republic. The Russian economy ranks as the twelfth largest by nominal GDP and sixth largest by purchasing power parity in 2015. Russia's extensive mineral and energy resources are the largest such reserves in the world, making it one of the leading producers of oil and natural gas globally. The country is one of the five recognized nuclear weapons states and possesses the largest stockpile of weapons of mass destruction. Russia is a great power as well as a regional power and has been characterised as a potential superpower. It is a permanent member of the United Nations Security Council and an active global partner of ASEAN, as well as a member of the G20, the Shanghai Cooperation Organisation (SCO), the Council of Europe, the Asia-Pacific Economic Cooperation (APEC), the Organization for Security and Co-operation in Europe (OSCE), and the World Trade Organization (WTO), as well as being the leading member of the Commonwealth of Independent States (CIS), the Collective Security Treaty Organization (CSTO) and one of the five members of the Eurasian Economic Union (EEU), along with Armenia, Belarus, Kazakhstan and Kyrgyzstan.

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Sailing ship

The term "sailing ship" is most often used to describe any large vessel that uses sails to harness the power of wind.

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Secondary mortgage market

The secondary mortgage market is the market for the sale of securities or bonds collateralized by the value of mortgage loans.

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Securitization

Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs).

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Security (finance)

A security is a tradable financial asset.

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Self-regulatory organization

A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession.

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Seoul

Seoul (like soul; 서울), officially the Seoul Special Metropolitan City – is the capital, Constitutional Court of Korea and largest metropolis of South Korea.

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September 11 attacks

The September 11, 2001 attacks (also referred to as 9/11) were a series of four coordinated terrorist attacks by the Islamic terrorist group al-Qaeda against the United States on the morning of Tuesday, September 11, 2001.

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Shadow banking system

The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but outside normal banking regulations.

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Smithsonian Agreement

The Smithsonian Agreement is an agreement, announced in December 1971 that created a new dollar standard whereby the major currencies of the mostly highly industrialized nations were pegged to the US dollar at central rates, with the currencies being allowed to fluctuate by 2.25%.

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Smoot–Hawley Tariff Act

The Tariff Act of 1930 (codified at), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was an act implementing protectionist trade policies sponsored by Senator Reed Smoot and Representative Willis C. Hawley and was signed into law on June 17, 1930.

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Snake in the tunnel

The snake in the tunnel was the first attempt at European monetary cooperation in the 1970s, aiming at limiting fluctuations between different European currencies.

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South Korea

South Korea, officially the Republic of Korea (대한민국; Hanja: 大韓民國; Daehan Minguk,; lit. "The Great Country of the Han People"), is a country in East Asia, constituting the southern part of the Korean Peninsula and lying east to the Asian mainland.

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Special drawing rights

Special drawing rights (ISO 4217 currency code XDR, also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF).

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Speculative attack

In economics, a speculative attack is a precipitous acquisition of some assets (currencies, gold, emission permits, remaining quotas) by previously inactive speculators.

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Stability and Growth Pact

The Stability and Growth Pact (SGP) is an agreement, among the 28 member states of the European Union, to facilitate and maintain the stability of the Economic and Monetary Union (EMU).

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Steamboat

A steamboat is a boat that is propelled primarily by steam power, typically driving propellers or paddlewheels.

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Structured product

In structured finance, a structured product, also known as a market-linked investment, is a pre-packaged investment strategy based on a single security, a basket of securities, options, indices, commodities, debt issuance or foreign currencies, and to a lesser extent, derivatives.

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Sudden stop (economics)

A sudden stop in capital flows is defined as a sudden slowdown in private capital inflows into emerging market economies, and a corresponding sharp reversal from large current account deficits into smaller deficits or small surpluses.

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Sweden

Sweden (Sverige), officially the Kingdom of Sweden (Swedish), is a Scandinavian country in Northern Europe.

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Switzerland

Switzerland, officially the Swiss Confederation, is a sovereign state in Europe.

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Telecommunication

Telecommunication is the transmission of signs, signals, messages, words, writings, images and sounds or information of any nature by wire, radio, optical or other electromagnetic systems.

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Telephone

A telephone, or phone, is a telecommunications device that permits two or more users to conduct a conversation when they are too far apart to be heard directly.

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Terrorism financing

Terrorism financing refers to activities that provide financing or financial support to individual terrorists or non state actors.

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Tonnage

Tonnage is a measure of the cargo-carrying capacity of a ship.

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Trade finance

Trade finance signifies financing for trade, and it concerns both domestic and international trade transactions.

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Transatlantic telegraph cable

A transatlantic telegraph cable is an undersea cable running under the Atlantic Ocean used for telegraph communications.

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Transparency (market)

In economics, a market is transparent if much is known by many about: What products and services or capital assets are available, market depth (quantity available), what price, and where.

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Treaty

A treaty is an agreement under international law entered into by actors in international law, namely sovereign states and international organizations.

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Treaty of Versailles

The Treaty of Versailles (Traité de Versailles) was the most important of the peace treaties that brought World War I to an end.

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Triffin dilemma

The Triffin dilemma or Triffin paradox is the conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies.

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Unemployment

Unemployment is the situation of actively looking for employment but not being currently employed.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United Nations

The United Nations (UN) is an intergovernmental organization tasked to promote international cooperation and to create and maintain international order.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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United States Congress

The United States Congress is the bicameral legislature of the Federal government of the United States.

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United States dollar

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution since 1792.

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United States Secretary of the Treasury

The Secretary of the Treasury is the head of the U.S. Department of the Treasury which is concerned with financial and monetary matters, and, until 2003, also included several federal law enforcement agencies.

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Uruguay Round

The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1994 and embracing 123 countries as "contracting parties".

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Valuation risk

Valuation risk is the financial risk that an asset is overvalued and is worth less than expected when it matures or is sold.

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Veto

A veto – Latin for "I forbid" – is the power (used by an officer of the state, for example) to unilaterally stop an official action, especially the enactment of legislation.

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Vietnam War

The Vietnam War (Chiến tranh Việt Nam), also known as the Second Indochina War, and in Vietnam as the Resistance War Against America (Kháng chiến chống Mỹ) or simply the American War, was a conflict that occurred in Vietnam, Laos, and Cambodia from 1 November 1955 to the fall of Saigon on 30 April 1975.

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Volatility (finance)

In finance, volatility (symbol σ) is the degree of variation of a trading price series over time as measured by the standard deviation of logarithmic returns.

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Wall Street

Wall Street is an eight-block-long street running roughly northwest to southeast from Broadway to South Street, at the East River, in the Financial District of Lower Manhattan in New York City.

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Wall Street Crash of 1929

The Wall Street Crash of 1929, also known as Black Tuesday (October 29), the Great Crash, or the Stock Market Crash of 1929, began on October 24, 1929 ("Black Thursday"), and was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects.

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Weapon

A weapon, arm or armament is any device used with intent to inflict damage or harm.

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William C. Dudley

William C. Dudley (born 1952) is the president of Federal Reserve Bank of New York and vice-chairman of the Federal Open Market Committee.

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Wireless telegraphy

Wireless telegraphy is the transmission of telegraphy signals from one point to another by means of an electromagnetic, electrostatic or magnetic field, or by electrical current through the earth or water.

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Wolfgang Schäuble

Wolfgang Schäuble (born 18 September 1942) is a German lawyer and politician of the Christian Democratic Union (CDU) whose political career has spanned more than four decades.

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World Bank

The World Bank (Banque mondiale) is an international financial institution that provides loans to countries of the world for capital projects.

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World Bank Chief Economist

The World Bank Chief Economist (full title: Senior Vice President, Development Economics, and Chief Economist) provides intellectual leadership and direction to the Bank’s overall development strategy and economic research agenda, at global, regional and country levels.

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World Economic Forum

The World Economic Forum (WEF) is a Swiss nonprofit foundation, based in Cologny, Geneva, Switzerland.

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World economy

The world economy or global economy is the economy of the world, considered as the international exchange of goods and services that is expressed in monetary units of account (money).

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World Federation of Exchanges

The World Federation of Exchanges (WFE), formerly the Federation Internationale des Bourses de Valeurs (FIBV), or International Federation of Stock Exchanges, is the trade association of 63 publicly regulated stock, futures, and options exchanges.

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World War I

World War I (often abbreviated as WWI or WW1), also known as the First World War, the Great War, or the War to End All Wars, was a global war originating in Europe that lasted from 28 July 1914 to 11 November 1918.

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World War II

World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.

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Zürich

Zürich or Zurich is the largest city in Switzerland and the capital of the canton of Zürich.

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1970s energy crisis

The 1970s energy crisis was a period when the major industrial countries of the world, particularly the United States, Canada, Western Europe, Japan, Australia, and New Zealand, faced substantial petroleum shortages, real and perceived, as well as elevated prices.

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1997 Asian financial crisis

The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.

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1998 Russian financial crisis

The Russian financial crisis (also called Ruble crisis or the Russian Flu) hit Russia on 17 August 1998.

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1998–2002 Argentine great depression

The 1998–2002 Argentine Great Depression was an economic depression in Argentina, which began in the third quarter of 1998 and lasted until the second quarter of 2002.

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2010 G20 Seoul summit

The 2010 G20 Seoul Summit was the fifth meeting of the G20 heads of government/heads of state, to discuss the global financial system and the world economy,Cho Jin-seo.

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2012–13 Cypriot financial crisis

The 2012–2013 Cypriot financial crisis was an economic crisis in the Republic of Cyprus that involved the exposure of Cypriot banks to overleveraged local property companies, the Greek government-debt crisis, the downgrading of the Cypriot government's bond credit rating to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the international markets and the reluctance of the government to restructure the troubled Cypriot financial sector.

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Global finance, Global financial, Global financial architecture, International financial architecture, International financial system, World financial system.

References

[1] https://en.wikipedia.org/wiki/Global_financial_system

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