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clearing house (G2)<br />The financial institution which settles the mutual indebtedness of commercial banks by clearing cheques. A bank with a net debt after the clearing to another bank will settle by drawing a cheque on its deposits with the central bank
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parallel importing (F1)<br />The importation of two versions of the same product, e_g. a branded pharmaceutical and a cheaper substitute. To avoid this competition dual pricing of the branded product is practised.
information technology (03)<br />Methods of generating, processing and communicating information, especially using computer hardware and software. EXPERT SYSTEMS, data networks and electronic mail have revolutionized many functions of management and made possible the globalization of financial markets. In modem economies it has become central to the working of most firms and could be responsible for the beginning of a new LONG WAVE.<br /><em>Reference</em><br />Zorkoczy, P. (1982) Information Technology An Introduction, London and Marshfield, MA: Pitman.
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