The 'Big Bang' refers to the major changes introduced on the London Stock Exchange (LSE) on 27 October 1986, aimed at deregulating and modernizing market operations.
Deindustrialization refers to the decline or elimination of industrial activity in a region or economy, often due to technological advancement, economic factors, and globalization. This phenomenon has impacted various industrial sectors, including steel, automotive, and electronics in the United States.
Disintermediation refers to the removal of intermediaries from financial transactions. This process, driven by technology, deregulation, and globalization, reduces costs but may increase credit risk.
An economic policy where governments do not restrict imports or exports through tariffs, quotas, or subsidies, allowing unrestricted flow of goods between countries.
Globalization refers to the multifaceted process that allows investment in financial markets and the exchange of goods, services, and information across international boundaries, facilitated by advancements in technology, deregulation, and the operations of powerful multinational enterprises.
Information Technology involves the use of computers and other electronic means to process, distribute, and transfer information. Various networks, including Wi-Fi, satellite links, and mobile networks, facilitate tasks such as email communication, remote database access, and electronic funds transfer, playing a significant role in the globalization of markets.
A corporation that has production operations in more than one country for reasons such as securing raw materials, utilizing cheap labor, servicing local markets, taking advantage of tax differences, and bypassing protectionist barriers.
An open economy is one in which foreign investment, imports, and exports are easily facilitated and play a significant role in the nation's economic activities.
Outsourcing refers to the business practice where an organization contracts out a business process or operation to a third-party provider. This can involve services, manufacturing, or handling specific operations to leverage expertise, cost efficiency, and other benefits.
Products made by a multinational corporation's overseas units for export to the home country.
Transnational refers to activities, processes, or phenomena that extend beyond national boundaries. This term is often used in the context of business, law, communications, and socio-political movements, among others.
