1.

Refers to the increasing interdependence of world economies as a result of the growing

scale of cross-border trade of commodities and services, flow of international capital and
wide and rapid spread of technologies.
2. According to this, economic globalization is a historical process the result of human
innovation and technological progress.
3. A restructuring process that enables state enterprises to operate market-oriented firms by
changing the legal environment in which they operate.
4. A corporation that has a home base, but is registered, operates and has assets or other
facilities in at least one other country at one time.
5. Refers to a system that forms rules and standards for facilitating international trades
among the nations.
6. Is a system of backing a country's currency with its gold reserves.
7. This is created with the aim to create a stabilized
international currency
system and ensure a monetary stability for all nations.
8. Functional integration between internationally dispersed activities which means that it is
a qualitative transformation rather than a quantitative change.
9. A form of monetary cooperation intended to reduce the excessive influence of the US
dollar on domestic exchange rates, and led, through various attempts, to the creation of a
Monetary Union and a common currency.
10. In this timeline, the advent growth of globalization approaching its modern forms is
witnessed.
11. A 1979 arrangement between several European countries which links their
currencies in an attempt to stabilize the exchange rate.

12. An institution of the European Union which established a common currency called the
euro.
13. A process of making the world economy an organic system by extending transnational
economic processes and economic relations to more and more countries and by
deepening the economic interdependencies among them.
14. A permanent fund created by the European Union to provide emergency assistance to
member states within the Union.
15. An organization created by the European Union to provide assistance to member states
with unstable economies.
16. This can be achieved through reduction of
state subsidies, organizational
restructuring of management such as corporatization, decentralization, and privatization.
17. The exchange of goods, services and capital across national borders.
18. This comes in as long as the two countries have different relative efficiencies, the two
countries can benefit from the trade.
19. A process whereas countries, as well as individual businesses can maximize their welfare
by specializing in the production of those goods where they are most efficient and enjoy
the largest advantages over rivals.
20. Refers to the regulations and agreement of foreign countries.
21. These are taxes or duties paid for a particular class of imports or exports.
22. These are measure that government or public authorities introduce to make imported
goods or services less competitive that locally produced goods and services.
23. This ensure that imported products in the country are of high quality.
24. It is a governing body that sets rules and regulations by which different nations exchange
currencies with each other.
25. This safeguards the best interest of its trade and citizen.
26. It refers to the increasing integration of economies around the world, particularly through
the movement of goods, services, and capital across borders.
27. To regulate the trade and business relations between two nations, this policy is formed.
28. Deals with the global rules of trade between nations with the main function of ensuring
that trade flows smoothly, predictably and freely.
29. Is an activity that requires search for a partner
relation-specific
investments that are governed by incomplete contracts.
30. In this timeline, global economy exists only in trade and exchange rather production as
the world export to GDP did not reached 1 to 2 percent.
31. It reflects the continuing expansion and mutual integration of market frontiers, and is an
inversible trend for the economic development in the whole world at the turn of the
millennium.
32. Is an extension of economic activities between internationally dispersed activities.
33. The main driving force of economic globalization for the last 100 years or roughly two-
thirds of world exports.
34. A process that creates an organic system of the world economy
35. . In this timeline, world system analysts identify the origin of modernity and globalization
through long distance trade.
36. Characterized by relative peace, free trade, financial and economic stability.
37. It is a global network of the government and financial institutions that determine the
exchange rate of different currencies for international trade.
38. They are state-imposed restrictions on trading a particular product or with a specific
nation.
39. It is a practice of assigning part of the obligations and tasks under a contract to another
party known as a subcontractor and especially prevalent in areas where complex projects
are the norm like construction and information technology.