Foreign Economic Policy

Foreign economic policy is a new concept covering the influence of the state not only on the flow of goods but also factors of production. It is a descendant of the foreign trade policy formulating the principles of the country’s influence on entities participating in international commodity turnover. In the second half of the 20th century, however, the flow of services, capital, technology and labour force between different countries and groups of countries also became another important component of international economic relations next to international commodity turnover. It thereby became necessary to supplement foreign trade policy with service, capital, technology, immigration, and other policies [ ]

Sources:

⠀ Bozyk, Pawel. Globalization and the transformation of foreign economic policy. Ashgate Publishing, Ltd., 2012.