Abbreviations often used in International Economics
	A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
	A A/C Account AAFLI Asian-American Free Labor Institute AALC African-American Labor Center ABAC Apec Business Advisory Council ABC Agricultural Bank of China (one of China's 4 largest State-owned commercial banks) ACDA Arms Control and Disarmament Agency ACFIC All- China Federation of Industry and Commerce ACM Arab Common Market ACP African, Caribbean and Pacific group ACTPN Advisory Committee on Trade Policy Negotiations AD anti-dumping Ad Val ad valorem tariff rate ADB Asian Development Bank ADC Andean Development Corporation ADF Asian Development Fund (of the Asian Development Bank). ADRA Adventist Development and Relief Agency AEM ASEAN (Association of Southeast Asian Nations) Economic Ministers AfDB African Development Bank AfDF African Development Fund AFR Africa AFSI Africa Food Security Initiative AFTA ASEAN (Association of Southeast Asian Nations) Free Trade Area AID U.S. Agency for International Development AIFLD American Institute for Free Labor Development AIHA American International Health Alliance AIMI African Integrated Malaria Initiative AIT American Institute in Taiwan ANDEAN Andean Common Market ANE Asia and Near East ANZCERTA Australia-New Zealand Closer Economic Relations Trade Agreement APCAC Asia-Pacific Council of American Chambers of Commerce APEC The Asia-Pacific Economic Cooperation forum grouping Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, Taiwan, Thailand, the United States. ARCH Autoregressive conditional heteroskedastic (models). AS Aggregate supply ASEAN Association of South East Asian Nations includes countries Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar (Burma), the Philippines, Singapore, and Thailand ASEM Asia-Europe Meeting It was officially launched in Bangkok in 1996, seeks to promote closer relations between Europe and Asia on a variety of fronts, including political, economic and cultural. ASIA Ltd Asian Securitization and Infrastructure Assurance Pte Ltd. A Financial-guarantee company formed by the American International Assurance and the Asian Development Bank. ASP Application Service Provider (one of the industries) ASSET Agriculturally Sustainable System and Environmental Transformation ATC Agreement on Textiles and Clothing ATPA Andean Trade Preference Act AUI ASEAN-U.S. Initiative AWACS AID Worldwide Accounting and Control System B B/L Bill of lading BFA Boao Forum for Asia BIBF Bangkok International Banking Facilities. BIS Bank for International Settlements BISNET Business Information Service for the Newly Independent States (U.S. Commerce Department) BOC Bank of China BOFT Board of Foreign Trade (of Taiwan) BOJ Bank of Japan. Japan's central bank. BOP Balance of Payments BOT 1. Bank of Thailand. Thailand's central bank. 2. Balance of Trade 3. Build, Operate and Transfer C CA Current accout CAAC Civil Aviation Administration of China CACM Central American Common Market CAD computer aided design CAGR Compounded Annual Growth Rate CAM computer aided manufacturing CAP Common agricultural policy. System of production targets and marketing mechanisms designed to manage agriculture trade within the European Union and the rest of the world. CAPA Confederation of Asian and Pacific Accountants CAPM Captial asset pricing models. CARIBCAN Canadian-Caribbean Basin Initiative CARICOM Caribbean Common Market CARIFTA Caribbean Free Trade Association CASS Chinese Academy of Social Sciences CASTE Association of Scientific and Technologic Enterprises (of the Chinese government) CBERA Caribbean Basin Economic Recovery Act CBI Caribbean Basin Initiative CBOT Chicago Board of Trade (of the United States) CCADJ Capital consumption adjustment CCB China Construction Bank CCET Centre for Cooperation with Economies in Transition CCFF Compensatory and Contingency Financing Facility CCL Contingent Credit Line CCM Caribbean Common Market CCOIC China Chamber of International Commerce CCPAA China Certified Public Accountant Association CCPIT China Council for the Promotion of International Trade CCTV China Central Television CDMA Code Division Multiple Access CDRs China Depositary Receipts CEA Chinese Economic Area or Council of Economic Advisors CEC China Electronics Corp CECF China Export Commodities Fair CEFTA Central European Free Trade Agreement CEO Chief Executive Officer CEOs Chief Executive Officers CET Central European Time CETRA China External Trade Development Council (one of Taiwan's most powerful foreign trade arms) CFA African Financial Community CFF Compensatory Financing Facility CFTA U.S.- Canada Free Trade Agreement CG-18 Consultative Group of Eighteen (GATT) CGIAR Consultative Group on International Agricultural Research. CICPA Chinese Institute of Certified Public Accountants CIDA Canadian International Development Agency CIF China Investment Forum CII Confederation of Indian Industry CIP Covered interest parity. Sometimes also known as covered interest rate parity. CIRC China Insurance Regulatory Commission CIRD China Institute for Reform and Development CIS Commonwealth of Independent States CITIC China International Trust and Investment Corp. CLE Council for Leather Exports CME Chicago Mercantile Exchange (of the United States). CMEA Council for Mutual Economic Assistance CNCIEC China National Coal Import and Export Corp CNOOC China National Offshore Oil Corp CNTA China National Tourism Administration COA Council of Agriculture (of Taiwan) COCOM Coordinating Committee for Export Controls COLAs Cost of living adjsutments COMECON Council for Mutual Economic Assistance COMET Committee Of Middle East Trade COMEX New York Commodity Exchange CPA Certified Public Accountant CPI Consumer price index. CPPCC Chinese People's Political Consultative Conference CPS Current population survey (of the United States). CRM Customer Relationship Management CRS Credit Reporting System (of OECD) CRTCNG China Radio & Television Cable Network Group CSRC China Securities Regulatory Commission CSSC China State Shipbuilding Corp CY Currency D DA Development Assistance DAC Development Assistance Committee (of OECD) DAEs Dynamic Asian Economics DAF Development Assistance Fund DCA Development Credit Authority DCs developed countries DEG Developing Economies Group DFA Development Fund for Africa DFAT Department of Foreign Affairs and Trade (in Australia) DFI Direct foreign investment. Also known as FDI. DFT Draft DH Dinar DMC Developing member country. DMFAS Debt Management and Financial Analysis System. A framework analysis for debt management and the computer-based debt management tool developed by UNCTAD in early 1980s. DOC U.S. Department of Commerce DOD U.S. Department of Defense DPP Democratic Progressive Party (of Taiwan) DRI Data Resources Incoporated DSA Debt sustainability analysis (by the World Bank and the IMF) DSB Dispute Settlement Body. A meeting of the WTO general council to settle trade disputes. DTH direct-to-home E EAAU East Asia Analytical Unit (in the Department of Foreign Affairs and Trade of Australia) EAFE European, Australia, and Far East index EAP Ecotech Action Plan EBRD European Bank for Reconstruction and Development EC European Community ECA Economic Commission for Africa ECAFE Economic Commission for Asia and the Far East (of the United Nations). ECB European Central Bank. ECE Economic Commissionfor Europe ECJ European Court Justice ECLAC Economic Commission for Latin America and the Caribbean ECO Economic Cooperaton Organisation ECOSOC Economic and Social Council (UN) ECOWAS Economic Community of West African States ECSA European Community Shipowners Association ECSC European Coal and Steel Community ECU European currency unit. Unit of account representing a weighted average of exchange rates of member countries within the European Monetary System before 1999. ECWA Economic Commission for Western Asia EDAC Economic Development Advisory Conference EDI Electronic Data Exchange EDP Electronic Date Processing EEA European Economic Area EEC European Economic Community EEP Export-enhancement program. Export subsidy program which helps the United States compete with subsidised European agricultural exports. EES European Economic Space EEU European Economic Union EFF European Fund Facility EFTA European Free Trade Association EIA European Information Association EIB European Investment Bank EMCF European Monetary Cooperation Fund. EMEF Emerging Market Economy Forum EMI European Monetary Institute EMS European Monetary System EMU Economic and Monetary Union EOM End Of Month EPA Environmental Protection Agency EPS Earnings per share EPU European Payments Union EPZ Export Processing Zone ERM Exchange Rate Mechanism (among countries of European Union) ESAF Enhanced Structural Adjustment Facility (of IMF) ESCAP Economic and Social Commission for Asia and the Pacific ESCB European System of Central Banks. ESD Environmentally Sustainable Development. ESF Economic Support Fund ESSD Environmentally and Socially Sustainable Development Network (of the World Bank Group). ETSI European Telecommunications Standards Institute EU European Union EURATOM European Atomic Energy Community Euro-Med Agreements European-Mediterranean Agreements EUROSTAT Statistical Office of the European Communities F FAO Food and Agriculture Organisation. FDA Food and Drug Administration FDI Foreign Direct Investment FDIC Federal deposit insurance corporation (of the United States) Fed Federal reserve bank (of the United States). US's central bank. FEER Fundamental equilibrium exchange rate. There is no unique definition of FEER but generally it refers to the level of real exchagne rate that would deliver both internal and external balance over the medium term. FFP Food for Peace Office (United States). FIEs Foreign-Invested Enterprises FOMC Federal open market committee (of the United States). Determines the US monetary policy. FOREX foreign exchange FRN Floating Rate Notes. FSO Fund for Special Operations (IDB) FTA Free Trade Agreement FTAA Free Trade Area of the Americas FY Fiscal year. G G-7 Group of Seven (leading industrialized nations consisting of Canada, France, Germany, Italy, Japan, United Kingdom and United States) G10 Group of Ten. Established in October, 1962, the Group of Ten (G10) is set up on conclusion of the General Arrangements to Borrow (GAB) with the IMF. Its purpose is to coordinate credit policy. Member countries include Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland the United Kingdom and the United States. The title, "Group of Ten", remained unchanged even after Switzerland was admitted as the eleventh member. G10 = G7 + Belgium + Netherlands + Sweden + Switzerland. G24 Group of Twenty-four. Established in January, 1972, the Group of Twenty-four (G24)'s purpose is to deal with international monetary questions and promote the interests of developing countries in Africa, Asia, and Latin America within the IMF. The group consists of eight representatives from each of the three continents of Africa, America and Asia. Members include Algeria, Argentina, Brazil, Colombia, Cote d'Ivoire, Democratic Republic of the Congo, Egypt, Ethiopia, Gabon, Ghana, Guatemala, India, Iran, Lebanon, Mexico, Nigeria, Pakistan, Peru, Philippines, Serbia and Montenegro, Sri Lanka, Syria, Trinidad and Tobago, and Venezuela. G5 Group of Five. Established in September 22, 1985, the Group of Five (G5)'s purpose is to coordinate the economic policies of five major non-communist economic powers: France, Germany, Japan, the United Kingdom and the United States. G7 Group of Seven. Established in 1976, the Group of Seven (G7)'s purpose is to facilitate economic cooperation among the seven major non-communist economic powers: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. G7 = G5 + Canada + Italy. GAB General Arrangements to Borrow GACC General Administration of Customs (of China) GAO General Accounting Office of the US GARCH Generalized ARCH, or generalized autoregressive conditional heteroskedastic (models). GATS General Agreement on Trade in Services. GATT General Agreement on Tariffs and Trade. An agreement reached in 1947 governing trade in goods. Incorporated in 1994 into the WTO which supercedes the GATT and covers trade in both goods and services. GAVI Global Coalition for Africa GB Great Britain (England, Wales and Scotland) GCC Gulf Cooperation Council GDP Gross domestic product GEF Global Environment Facility. GITIC Guangdong International Trust and Investment Corp. GNP Gross national product GRA General Resources Account (of the IMF). The GRA ccount contains the IMF's financial resources arising from members' subscriptions (quotas), its holdings of SDRs and gold, and any borrowed resources. GSP Generalised System of Preferences H HIBOR Hong Kong Dollar Interbank Offered Rates. HIPC Heavily indebted poor countries HKCB Hong Kong Chinese Bank HSBC Hong Kong and Shanghai Banking Corporation I IADB Inter-American Development Bank IAPs Individual Action Plans IARC International Agricultural Research Center IASP International Affairs Strategic Plan (Department of State) IBEC International Bank for Economic Cooperation IBFs International banking facilities. IBRD International Bank for Reconstruction and Development (or the World Bank) IC Interim Committee ICAs International commodity agreements. Examples include International Cocoa Organization, International Tin Agreement, International Coffee Organization, International Sugar Organization and International Wheat Agreement. ICASS International Cooperative Administrative Support Services ICBC Industrial and Commercial Bank of China ICCA International Council of Chemical Associations ICITAP International Criminal Investigation and Training Assistance Program ICO International Coffee Organization ICORC International Committee for the Recontruction of Cambodia IDA International Disaster Assistance International Development Association IDB Inter-American Development Bank IDD International Direct Dial IDDC International Debt Discount Corporation. IEA International Energy Agency IET Interest equalization tax (of the United States). Tax imposed by the US government in 1963 to discourage US investors from investing in foreign securities. IFC International Finance Corporation (of the World Bank) IFI International Financial Institute IFOR Implementation Force (NATO IFRC International Federation of the Red Cross IFS International financial statistics (of IMF). IIC Inter-American Investment Corporation IIF The Institute of International Finance, Inc. A global association of financial institutions created in 1983 in response to the international debt crisis by 38 banks of the leading industrialized countries. The IIF has evolved to meet the changing needs of the financial community. Members include most of the world's largest commercial banks and investment banks, as well as a growing number of insurance companies, investment management firms, multinational companies, trading companies, export credit agencies, and multilateral agencies IIPA International Intellectual Property Alliance ILO International Labour Organisation IMF International Monetary Fund IMFC Use of IMF Resources/ IMF Credit IMM International Monetary Market. IMO International Maritime Organization INC Information Network Center INRA International Natural Rubber Agreement INRO International Natural Rubber Organization INTELSAT International Telecommunications Satellite Organization IOS International Organization for Standardization ip Internet Phone IPOs Initial Public Offerings IPR Intellectual Property Rights IPRF International Planned Parenthood Federation IPRs Intellectual property rights. Ownership of ideas, including music, art and literature along with inventions and signs for distinguishing goods. IPU Inter-Parliamentary Union IRR Internal rate of return ISA International Sugar Agreement ISDA International Swaps and Derivatives Association ISIC International Standard Industrial Classification ISMA International Securities Market Association ISO International Standards Organisation ITA Information Technology Agreement. Proposed by Canada, the European Union, Japan and the United States to "eliminate" tariffs on all information technology products by 2000. APEC agreed last month to a "substantial" reduction in such tariffs over the same period. International Trade Administration (U.S. Commerce Department) or International Tin Agreement ITC International Trade Commission ITCB International Textiles and Clothing Bureau. Geneva-based group of some 20 developing country exporters of textiles and clothing. ITICs International Trust and Investment Corporations ITO International Trade Organisation IWC International Whaling Commission J JBIC Japan Bank for International Cooperation JETRO Japan External Trade Organization JV Joint Venture L L/C Letter of credit LAFTA Latin American Free Trade Association Latin America Free Trade Area LAIA Latin American Integration Association LDC less developed country LDCs Least developed countries (defined by the United Nations) LDP Liberal Democratic Party LIBOR London interbank offered rate LIFFE London International Financial Futures Exchange LILIC Less indebted low-income country LIMIC Less indebteed middle-income country LLDC least (or lesser) developed country LR Long run. LSE London School of Economics M M.F.N Most Favored Nation MAC Mainland Affairs Council (of Taiwan) MAFF Ministry of Agriculture, Forestry and Fisheries (of Japan) MAFF Ministry of Agriculture, Forestry and Fisheries (of Japan) MDF Mediterranean Development Forum MED Ministry of Education MENA Middle East and North Africa MERC Middle East Regional Cooperation MERCOSUR Southern Common Market in Latin America. Argentina, Brazil, Paraguay and Uruguay. METI Trade and Industry Minister (of Japan) MFA Multifibre Arrangement. A 20-year arrangement starting in 1974 which allowed countries disrupted by increased imports of textiles and clothing from other countries to negotiate quota restrictions. MFN Most-Favoured-Nation treatment. The first article in the 1994 agreement requiring countries not to discriminate between goods on the basis of where they're coming from or where they're going to. MIA Malaysian Institute of Accountants MIGA Multilateral Investment Guarantee Agency (of the World Bank). An agency established by the World Bank that offers various forms of political risk insurance to coporations. MII Ministry of Information Industry (of China) The MII is now responsible for negotiating and regulating China's telecommunications industry. MILIC Moderately indebted low-income country MIMIC Moderately indebted middle-income country MINSA Ministry of Health MITI Ministry of International Trade and Industry (of Japan). MNC multinational corporation MNCs Multinational corporations. MOEA Ministry of Economic Affairs (of Taiwan) mof Ministry of Finance (of TAiwan) MOFERT Ministry of Foreign Economic Relations and Trade (PRC) MOFTEC Ministry of Foreign Trade and Economic Cooperation (of People's Republic of China) MOH Ministry of Health MOI Ministry of the Interior (of Taiwan) MOPH Ministry of Public Health MOTC Ministry of Transportation and Communications (of Taiwan) MPC Monetary Policy Committee (of Bank of England, the central bank of the Unkited Kingdom). Marginal propensity to consume. Municipal People's Congress (of Shanghai) MPT Ministry of Posts and Telecommunications MRT Ministers Responsible for Trade MSA Multilateral Steel Agreement MTC Malaysian Timber Council MTO Multilateral Trade Organization MYRA Multi-Year Rescheduling Agreement N NAB New Arrangements to Borrow NADBANK North American Development Bank NAFTA North American Free Trade Agreement. Between Canada, Mexico and the United States. NAIRU Nonaccelerating inflation rate of unemployment. NBER National Bureau of Economic Research. NBS National Bureau of Statistics NCGA National Corn Growers Association NGO Nongovernmental organization NGOs non-governmental organizations NIC newly industrializing country NIE newly industrializing economies NIEs Newly industrailizing economies. NIH National Institute of Health NIS New Independent States of the former Soviet Union NMD National Missile Defence (U.S.'s plan) NME non-market economy NNP Net national product (of national income accounting). NOW Negotiable order of withdrawal accoutns. NPC National People's Congress (of China) NTB Nontariff trade barriers. NTDB National Trade Data Bank (U.S.) NTMs Non-Tariff Measures. Include quotas, import-licensing systems, sanitary rules and prohibition. NYSE New York Stock Exchange. O OCR Ordinary capital resources (of the Asian Development Bank). ODA Official Development Assistance OECD Organisation for Economic Cooperation and Development OECF Overseas Economic Cooperation Fund OEEC Organisation for European Economic Cooperation OFDA Office of United States Foreign Disaster Assistance. OPEC Organisation of Petroleum Exporting Countries OTC Over-the-counter. For example, over-the-counter stock markets. P PBOC People's Bank of China (the Central Bank) PE ratio Price to Earnings ratio PERC Political and Economic Risk Consultancy PICC People's Insurance Company of China PIIA Pakistan Institute of International Affairs PNTR Permanent Normal Trade Relations PPI Producer price index. PPP Purchasing power parity PRC People's Republic of China (also called mainland China as opposed to Taiwan) PRGF Poverty Reduction and Growth Facility (of IMF) PSC Production Sharing Contract PSI Pre-Shipment Inspection. Employing specialised private companies to check details such as price, quality and quantity of goods ordered abroad. PTA Preferential Trade Area PTI Press Trust of India PV Present value Q QRs Quantitative Restrictions QTY Quantity R RAP Rights Accumulation Program RFT Radio, Film & TV ROC Republic of China (Taiwan's official name) ROE Return on equity. ROK Republic of Korea RTA Regional trading agreements RW Random walk. RXD Revised External Debt (Reporting System of the World Bank) S SADC Southern Africa Development Community SAFE State Administration of Foreign Exchange (of China) SAI Special Assistance Initiative Supreme Audit Institution SAIC 1) State Administration for Industry and Commerce 2) Shanghai Automotive Industry Corp SAL Structural adjustment loan facility (of the World Bank). Facility established in 1980 by the World Bank to enhance a country's long-term economic growth through financing projects. SAP Structural Adjustment Program SAPs Structural Adjustment Programs. Adjustment programs are often required by the IMF or World Bank as a condition for low-interest loans. SAPTA South Asian Preferential Trade Arrangement SAR Special Administrative Region SARFT State Administration of Radio, Film and Television SATC State Administration of Taxation of China SATI State Administration of Textile Industry SDA State Drug Administration SDPC State Development Planning Commission SDPS State Development Planning Commission SDR Special Drawing Right (of the IMF) SEED Support for East European Democracy SEM Single Economic Market. SET The Stock Exchange of Thailand. SETC State Economic and Trade Commission SEZ Special Economic Zone e.g. Shenzhen Special Economic Zone (SEZ) in south China SICB State Industrial and Commercial Bureau SIDA Swedish International Development Agency. SII Shanghai Information Investment SILIC Severely indebted low-income country SILMIC Severely indebted low-middle-income country SIMIC Severely indebted middle-income country SIPO State Intellectual Property Office (of China) SITC Standard International Trade Classification SME Small and Medium-sized Enterprise SMT Surface-Mounted Technology SOE State-Owned Enterprise SOM II Second Senior Officials' Meeting SPC Supreme People's Court (of Mainland China) SPRGF Self-Sustained PRGF/ Self-Financing PRGF SR Short run. SRF Supplemental Reserve Facility T TAA Trade Adjustment Assistance Program (U.S.) TDC Trade Development Council (of Hong Kong) TIA Telecommunications Industry Association TILF Trade and Investment Liberalization and Facilitation TOT Transfer, Operate and Transfer TQ Tarriff Quota TRIMS Trade-Related Investment Measures. TRIPS Trade-Related aspects of Intellectual Property Rights. TRQ Tariff Rate Quota TWA trade-weighted average U U/W Underwriter UIP Uncovered interest parity. Sometimes also call uncovered interest rate parity. UK United Kingdom (England Wales, Scotland, Northern Ireland, Channel Islands and the Isle of Man) UN United Nations UNAIDS United Nations Program on HIV/AIDS UNCED United Nations Conference on Environment and Development UNCITRAL United Nations Center on International Arbitration Law UNCTAD United Nations Conference on Trade and Development UNCTC United Nations Center on Transnational Corporations UNDP United Nations Development Program UNECE United Nations Economic Commission for Europe UNECLAC United Nations Economic Commission for Latin America and the Caribbean UNEP United Nations Environmental Program. UNESCO United Nations Educational, Scientific and Cultural Organization UNFCCC United Nations Framework Convention and Climate Control UNFPA United Nations Population Fund UNICEF United Nation's Childrens' Fund UNIDO United Nations Industrial Development Organization UNSD United Nations Statistics Division UPS United Parcel Service (carriers services) UR Uruguay Round. Global trade talks launched in Punta del Este in Uruguay in September 1986, concluded in Geneva in December 1993 and signed by ministers in Marrakesh in Morocco in April 1994. US The United States. US$ United States Dollar USA United States of America USAID United States Agency for International Development. USDA United States Agriculture Department USFDA U.S. Food and Drug Administration USTR U.S. trade representative or Office of the U.S. Trade Representative V VAR Vector autoregression (a stastical term) VAT Value Added Tax. VER Voluntary Export Restraint. Bilateral deals where exporters reduce or restrict exports without importers resporting to quotas, tariffs or other controls. VII