Global Institutions-IMF and WTO (IEcoS (Economic Services) Economics Paper-2): Questions 1 - 5 of 5

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Question number: 1

» Global Institutions » IMF and WTO

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Appeared in Year: 2018

Essay Question▾

Describe in Detail

How far can TRIPS encourage innovations in developing countries?

Explanation

  • Intellectual property is different from other property rights, which are designed to promote the efficient use of economic resources.

    • Patents give the guarantee exclusive rights to an innovation – a monopoly – and the profits this generates provide an incentive to innovate.

    • The rights covered by TRIPS include copyright and related right

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Question number: 2

» Global Institutions » IMF and WTO

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Appeared in Year: 2018

Essay Question▾

Describe in Detail

State briefly the roles of IMF and World Bank in shaping the framework of economic development from Second World War to the present.

Explanation

  • The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reduce poverty, increasing shared prosperity, and promoting sustainable development.

    • Together, International Bank for Reconstruction and Development (IBRD) and International development ag

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Question number: 3

» Global Institutions » IMF and WTO

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain the objectives of IMF.

Explanation

Objectives:

The basic objective of IMF is to promote international monetary cooperation.

The IMF Charter prescribes its six objectives:

  • It helps to promote international monetary cooperation among members.

  • It helps to facilitate the balanced growth of international trade and to contribute to high levels of employment, real incentive, an

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Question number: 4

» Global Institutions » IMF and WTO

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Appeared in Year: 2017

Essay Question▾

Describe in Detail

Discuss the role of IMF on stabilizing the world economy.

Explanation

The IMF has played a very vital role in stabilization of economy. The IMF is an organization that seeks to promote international monetary cooperation and to facilitate the expansion of trade, and thus to contribute increased employment and improved economic conditions.

  • The system of exchange rate under the IMF combines the element of stabilit

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Question number: 5

» Global Institutions » IMF and WTO

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Appeared in Year: 2015

Essay Question▾

Describe in Detail

Comment on Agreement on Agriculture (AoA) under WTO with reference to agricultural subsidies.

Explanation

  • The WTO Agreement on Agriculture contains provisions in 3 broad areas of agriculture and trade policy: market access, domestic support and export subsidies.

    • Market Access: This includes that prevailing non-tariff barriers in agriculture should be abolished and converted into tariff barriers.

    • Domestic Support: It can be categorized under v

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