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Glossary


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TermDefinition
 
ParliamentA legislative body, that is elected
Action plana sequence of steps that must be taken, or activities that must be performed well, for a strategy to succeed.
Capacity buildingplanned development of (or increase in) knowledge, output rate, management, skills and other capabilities of an organization through acquisition, incentives, technology and/or training.
CARICOMstands for Caribbean Community and Common Market and is defined as an organization made up of 15 Caribbean nations to promote economic integration among members.
Corresponding Bankingis a financial institution that provides services on behalf of another, equal or unequal, financial institution. It can facilitate wire transfers, conduct business transactions, accept deposits and gather documents on behalf of another financial institution.
Dead policya policy which has not been used by the government or organization
Doing Business Reportis a study elaborated by the World Bank Group since 2003 every year that is aimed to measure the costs to firms of business regulations in 185 countries.
E-governanceis the application of information and communication technology (ICT) for delivering government services, exchange of information, communication transactions, integration of various stand-alone systems and services between government-to-customer (G2C), government-to-business (G2B), government-to-government (G2G) as well as back office processes and interactions within the entire government framework.
E-governmentis the use of information and communication technologies (ICTs) to improve the activities of public sector organizations. Some definitions restrict e-government to Internet-enabled applications only, or only to interactions between government and outside groups.
Economyan entire network of producers, distributors, and consumers of goods and services in a local, regional or national community.
Education/Awareness Raisingeducating the public and increasing awareness of the benefits of disadvantages of an activity to stimulate or discourage it. E.g.: a commercial to reduce drunk driving
Entrepreneurshiphe activity of setting up a business or businesses, taking on financial risks in the hope of profit.
Economic Partnership Agreement (EPA)are a scheme to create a free trade area (FTA) between the European Union and the African, Caribbean and Pacific Group of States (ACP).
Evaluationex post assessment to measure whether action was worthwhile and what was its impact.
Export Processing Zonere areas within developing countries that offer incentives and a barrier-free environment to promote economic growth by attracting foreign investment for export-oriented production.
Export subsidygenerally comprises three elements: the government makes a financial contribution either directly or indirectly to a producer; a benefit is conferred by that financial contribution; and the financial contribution is conditional upon export of the product in question. Export subsidies are typically considered bad because they make exports artificially competitive.
Fiscal Incentiveare tax measures geared to encourage industrial development. These incentives are designed to assist manufacturing entrepreneurship.
Free zonean area within in a country where imported goods can be stored or processed without being subject to import duty.
GDPis the monetary value of all the finished goods and services produced within a country’s borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well. GDP includes all private and public consumption, government outlays, investments, and exports minus that occur within a defined territory. Put simply, GDP is a broad measurement of a nation’s overall economic activity.
Grantsproviding resources to a third party to undertake a programme of work to bring about change.