See the excellent Deardorff’s Glossary of International Economics.
|GATT||General Agreement on Trade and Tariffs (GATT)|
|MAI||Multilateral Agreement on Investments|
|MFN(T)||Most Favoured Nation (Treatment). Used to refer to trading relationships where country A grants country B special status. Many WTO agreements (e.g. GATS article II) explicitly prohibit this behaviour mandating that every country A must grant treatment to a foreign country no less favourable than it grants to any other.|
|NTB||Non-Tariff-Barrier (to trade). For example regulations or laws that discriminate against foreign trade.|
|Pareto Efficiency||Means the same as Pareto Optimal=A situation in which no Pareto-improving change is possible (pareto-improving=Making no one worse off and making at least one person better off). (Taken from Deardorff’s glossary – see link at top of page).|
Last Updated: 2003-Jan-31