International Finance-2009summer-Lec 4-Balance of Payments-Part1-S.PPT.Convertor.docVIP

International Finance 国际金融 Lecture 4 Balance of Payments — Part 1 Introduction 国际收支概述 Topic Objectives Definition of Balance of Payments (BoP) Standard Components of BoP Transaction Classifications Suggested Readings : 英：Chapter 2 中：第五章 Balance of Payments/国际收支 Is a statistical statement that systematically summarizes, for a specific time period, the economic transactions of an economy with the rest of the world. 根据国际货币基金组织 (IMF)，在《国际收支手册》（第五版）中的定义： 国际收支是一个经济体（一个国家或地区）与其他经济体在一定时期发生的全部对外经济交易的系统记录。 Note 1: Subject of Recording—Economic Transactions Exchanges Transfers Migrants Other imputed transactions ‘Transaction-based’ NOT ‘Payment-based’ Exchanges/交换 A transactor (economic entity) provides an economic value to another transactor and receives in return an equal value. The economic values provided by one economy to another may be categorized broadly as real resources (goods, services, income) and financial items. Economic Value Economic Value Transfers/转移 A transactor provides an economic value to another transactor but does not receive a quid pro quo. Can be further classified into Current Transfers and Capital Transfers. Economic Value Economic Value Migrants/移居 Migration occurs when the residence of an individual changes from one economy to another because the person moves his or her abode. Other Imputed Transactions/其他根据推论而存在的交易 In some instances, transactions may be imputed and entries may be made in BoP accounts when no actual flows occur. Note 2: Scope of Recording–Transactions between residents and non-residents An economic unit is a resident unit/居民单位 when it has a center of economic interest in the economic territory of a country. Economic Territory/经济领土 :包括一个政府所管辖的地理领土，也包括该国的天空、水域和邻近水域下的大陆架，以及该国在世界其他地方的飞地，还包括海关控制下的自由区和离岸企业经营的保税仓库或工厂 Center of Economic Interest/经济利益中心: 指该单位在某国的经济领土内在一年或一年以上的时间中已经大规模地从事经济活动或交易，或计划如此行事。 Residents unit is composed of: Households and individuals who make up a household, and Legal and Social entities corpo