国际金融托马斯复习资料讲义.docxVIP

C2国际收支Payments among Nations 1复式记账Double-entry bookkeeping 概Any exchange automatically enters the balance-of-payments accounts twice as a credit and as a debit of the same value. 规则:贷方项目A credit (+) is flow for which the country is paid;借方项目A debit (-) is flow for which the country must pay. 例子:1出口(贷),进口(借);2本国常住者为外国人提供劳务或者从外国取得投资及其他收入(贷);而外国人为本国常住者提供劳务或从本国取得收入(借);3本国常住者获得(指购买)外国资产(借),外国常住者获得本国资产(贷);4外国人偿还债务(贷),本国居民偿还外债(借);5本国常住者收到国外单方面转移(贷),本国常住者对外国单方面转移(借);6官方储备减少(贷),官方储备增加(借) 2国际收支Balance of Payments (BOP): The set of accounts recording all flows of value between a nation’s residents and the residents of the rest of the world during a period of time. Free on board(FOB离岸价): it implies that distributive services like transport and handling performed on goods up to the customs frontier of the economy from which the goods are exported are classed as merchandise. 2.1经常项目 Current Account balance It is the net value of the flows of goods, service, income, and Unilateral transfers. If it is positive, the nation earns that much in extra assets or reduced liabilities in its dealings with other countries. If it is negative, the country must pay by giving up assets or increasing its liabilities. Goods and services balance equals the net exports of both goods and services. It is often called the trade balance. 包括:1Merchandise trade flows;2Service flows;3Income flows;4Unilateral transfer 2.2资本项目financial Account Balance The net flows of financial assets and similar claims (excluding official asset flows) is the private capital account balance or financial account balance. 资本项目记录的只是资产交易的本金金额(principal amounts),而投资国外资产的任何所得(earnings)均记录在经常项目中. 1美国居民增持外国金融资产(股票、债券或贷款凭证),记入借方,该居民对外国付款或增加贷款,资金流出美国(-) 2外国居民增持美国金融资产(股票、债券或贷款凭证),记入贷方,美国卖方(或借款人)接受外国的付款(或得到贷款),资金流入美国(+) 3美国居民减持外国金融资产(股票、债券或贷款凭证),记入贷方,该居民接受外国的付款(或收回借款),资金流入美国(+) 4外国居民减持美国金融资产(股票、债券或贷款凭证),记入借方,美国的买方(或借款人)对外国付款(或归还贷款),资金流出美国(-) 从金融资产本身流向:2和3,美国出口金融资产(exporting financial assets),记为正;1和例4,美国进口金融资产(importing financial assets