WAEMU Benin, Burkina faso, C.te d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and togo.
Wage The payment for the service of a unit of labor, per unit time. In trade theory, it is the only payment to labor, usually unskilled labor. In empirical work, wage data may exclude other compensation, which must be added to get the total cost of employment.
Wage insurance A program to pay displaced workers, when they become re-employed and for a limited period of time, a specified fraction of the difference between their old wage and their lower new wage. As of 2002, the US provides wage insurance to a limited number of workers as part of Alternative Trade Adjustment Assistance.
Wage-price spiral A feedback process in which increasing wages lead, through costs, to increasing prices, while increasing prices lead, through the need to maintain real wages, to increasing wages.
Wage-rental ratio The ratio of the wage of labor to the rental price of either capital or land, whichever is the other factor in a two-factor Heckscher-Ohlin model. The ratio plays a critical role in this model since it determines the ratios of factors employed in both industries.
Waiver Authorized deviation from a previously undertaken and legally binding obligation. In WTO, a waiver can be sought through invocation of Art IX WTO. Conditions under which waivers are granted are generally negotiated and limited in time.
Walras' Law The property of a general equilibrium that if all but one of the markets are in equilibrium, then the remaining market is also in equilibrium, automatically. This follows from the budget constraints of the market participants, and it implies that any one market-clearing condition is redundant and can be ignored.
Walrasiam adjustment A market adjustment mechanism in which price rises when there is excess demand and falls when there is excess supply.
Walrasian auctioneer A hypothetical entity that facilitates market adjustment in disequilibrium by announcing prices and collecting information about supply and demand at those prices without any disequilibrium transactions actually taking place.
WARP Weak axiom of revealed preference.
Warsaw Pact A "treaty of friendship, co-operation, and mutual assistance" including the Soviet Union and its satellite states in Central Europe. Signed in 1955, it included eight countries.
Washington Consensus
A set of economic practices and reforms deemed by international financial institutions (located in Washington, D.C.) to be helpful for financial stability and economic development; often imposed as conditions for economic assistance by these institutions. Phrase coined by John Williamson (1990).
Washington Treaty สนธิสัญญาวอชิงตันมีไว้เพื่อป้องก้นการละเมิดสิทธิ์ในทรัพย์สินทางปัญญา
Water in the tariff The extent to which a tariff is higher than necessary to be prohibitive.
WCO World Customs Organization คือองค์การศุลกากรโลก มีสำนักงานอยู่ที่ กรุงบรัสเซล ประเทศเบลเยี่ยม เป็นหน่วยงานที่ช่วยเสริมสร้างและขจัดความ ยุ่งยากด้านศุลกากรแก่ประเทศสมาชิก
Wealth The total value of the accumulated assets owned by an individual, household, community, or country.
Welfare Welfare is the "enjoyment" that consumers are inferred to gain from their consuption. While welfare cannot be measured directly, economists often use a measure of real income or purchasing power as a way of measuring welfare in money terms.
Welfare economics The branch of economic thought that deals with economic welfare, including especially, various propositions relating competitive general equilibrium to the efficiency and desirability of an allocation.
Welfare state A set of government programs that attempt to provide economic security for the population by providing for people when they are unemployed, ill, or elderly.
White rice ข้าวขาว
Whole kernels ข้าวเต็มเมล็ด
WIPO World Intellectual Property Organization องค์การทรัพย์สินทางปัญญาแห่งโลก
Withholding tax A tax on income that is levied at the source, thus diverted to the government before the recipient of the income ever sees it. Used in international tax treaties to assist tax collection.
WITS World Integrated Trade Solution-database and software package developed by UNCTAD and the World Bank to allow analysis of market access conditions and the impact of own and partner country liberalization.
Working party A group that is delegated to study an issue. Used by the WTO as a first step in considering a new issue that may later become the subject of negotiations.
World Bank A group of five closely associated international institutions providing loans and other development assistance to developing countries. The five institutions are IBRD, IDA, IFC, MIGA, and ICSID. As of June 2007, the largest of these, IBRD, had 185 member countries.
World price The price of a good on the "world market" meaning the price outside of any country's borders and therefore exclusive of any trade taxes or subsidies that might apply crossing a border into a country but inclusive of any that might apply crossing out of the country.
World Trade Organization
A global international organization that specifies and enforces rules for the conduct of international trade policies and serves as a forum for negotiations to reduce barriers to trade. Formed in 1995 as the successor to the GATT, it had 155 member countries as of August 2012.
World transformation curve The world production possibility frontier.
WTO World Trade Organization. A global international organization that specifies and enforces rules for the conduct of international trade policies and serves as a forum for negotiations to reduce barriers to trade. Formed in 1995 as the successor to the GATT, it had 150 member countries as of June 2007.


ที่มา Deardorffs' Glossary of International Economics