(国际金融学英文课件）IF2The Balance of Payments.PPT

5.Balance of Payments Trends Germany traditionally had current account surpluses. Since 1991 Germany has been experiencing current account deficits. This is largely due to German reunification and the resultant need to absorb more output domestically to rebuild the former East Germany. What matters is the nature and causes of the disequilibrium. Key words Balance of payments Credit Debit Capital inflows and outflows Double-entry bookkeeping Capital account Current account FDI Official reserve assets Official reserve account Surplus and deficit Discuss the short term and long term effects