Global Economic Governance Glossary Quiz

When a

state spends more than it raises in revenue (for example, through tax

revenue), it is said to be running a ?

• Budget deficit

• Budget surplus

• Budget debt

• Debt

The way in which the nation-state increasingly shares decision making with non-state actors, such as IGOs, NGOs and TNCs.

• Globalisation

• Global economic governance

• Global governance

Established following the Bretton Woods Conference in 1944. It aims to encourage global financial stability by providing technical advice, support and loans to its 189 member states.

• World Trade Organisation

• World Bank

• International Monetary Fund (IMF)

A military alliance consisting of the USA and its key allies in western Europe, with the purpose to protect western Europe from military threats from the Soviet Union.

• UN

• NATU

• NATO

• WTO

Process by which the nation-state no longer solely takes decisions affecting its citizens. Instead, decisions are more polycentric, involving a variety of non-state actors (e.g. IGOs, NGOs and regional organisations).

• Cultural Globalisation

• Economic Globalisation

• Political Globalisation

A programme of economic reform usually following a neoliberal agenda, including government spending cuts and privatisation, which is imposed on a state as a condition of it receiving an IMF loan.

• Stressful adjustment programme (SAP)

• Structural adding programme (SAP)

• Structural adjustment programme (SAP)

The world’s principal intergovernmental organisation, founded in 1945 and comprised of 193 member states. It has a wide range of responsibilities and powers (e.g. international peace and security, economic development, human rights and social progress).

• IMF

• United Nations

• WTO

Established as a result of the Bretton Woods Conference in 1944. It focuses on long-term development and provides conditional loans to developing countries

• World Trade Organisation

• World Bank

• International Monetary Fund (IMF)