The Balance of Payments必看课件资料.ppt

Essential Readings The Whole Chapter Main Contents The Concept of Balance of Payments Balance of Payments Accounts The Current Account The Capital Account Statistical Discrepancy Official Reserves Account The Imbalance of Payments causes and the adjusting measures Balance of Payments Statements The Balance of Payments is the statistical record of a country’s international transactions over a certain period of time presented in the form of double-entry bookkeeping. N.B. when we say “a country’s balance of payments” we are referring to the transactions of its citizens and government. Balance of Payments Example Suppose that Boeing Corporation exported a Boeing 747 aircraft to Japan Airlines for $50million, and that Japan Airlines pays from its dollar bank account in New York City. This receipt of $50million will be recorded as a credit (+), matched by a debit( -) of the same amount representing a reduction of the U.S. bank’s liabilities. Balance of Payments Example Suppose that Ford acquires Jaguar, a British car manufacturer, for $700 million, and that Jaguar deposits the money in Barclays Bank in London. In this case, the payment of $700million will be recorded as a debit(-), whereas Barclay’s purchase of the US. Treasury notes will be recorded as a credit (+). Balance of Payments Example Transaction Credit Debit Boeing’s export +$50million Withdraw from US bank -$50million Ford’s acquisition of Jaguar -$750million Barclay’s purchase of US security +$750million Balance of Payments Example To make it simple, when a country records its transactions with foreign countries, the transaction which results in a foreign currency inflow will be recorded as credit with a “+” sign. Any transaction which results in a foreign currency outflow will be recorded as a debit with “-” sign. Balance of Payments Examples Balance of Payments Accounts The balance of paym