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Topic: Balance of payments

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Current account

Capital account

International investment position

Money supply

Balance of trade

Bretton Woods system

Trade deficit

Financial capital

National Income and Product Accounts

Gold Exchange Standard

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Bretton Woods Conference

Capital (economics)

Deflation (economics)

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	IMF Balance of Payments Statistics (BOPS)
		The Balance of Payments (BOP) is a statistical statement that summarizes, for a specific period (typically a year or quarter), the economic transactions of an economy with the rest of the world.
		Balance of payments data are presented in accordance with the standard components of the fifth edition of the Balance of Payments Manual, BPM5, which the Fund published in September 1993.
		The data in the Balance of Payments Statistics are compiled and presented in accordance with the standard components of the fifth edition of the Balance of Payments Manual, BPM5, which the Fund published in September 1993.
	www.esds.ac.uk /international/support/user_guides/imf/bops.asp (2118 words)

	Balance of Payments, by Herbert Stein: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		The balance of payments accounts of a country record the payments and receipts of the residents of the country in their transactions with residents of other countries.
		The payments of Americans to Japan for automobiles are balanced by the payments of Japanese to U.S. individuals and institutions, including banks, for the acquisition of dollar assets.
		Until about 1973 attention was focused on a definition of the balance of payments intended to measure a country's ability to meet its obligation to exchange its currency for other currencies or for gold at fixed exchange rates.
	www.econlib.org /library/Enc/BalanceofPayments.html (1411 words)

	Balance of Payments - Fedpoints - Federal Reserve Bank of New York (Site not responding. Last check: 2007-10-09)
		The BOP includes the current account, which mainly measures the flows of goods and services; the capital account, which consists of capital transfers and the acquisition and disposal of non-produced, non-financial assets; and the financial account, which records investment flows.
		The balance of payments (BOP) is an accounting of a country's international transactions over a certain time period, typically a calendar quarter or year.
		In the balance of payments, this appears as an inflow of foreign capital.
	www.ny.frb.org /aboutthefed/fedpoint/fed40.html (992 words)

	Balance of Payments
		The balance of payments account for one country records all the payments that affect funds transfers between that nation and the rest of the world.
		Conversely, payments by domestic citizens to foreigners are debits (-) to the balance of payments account.
		To determine the balance of payments for a country, the current account balance, the capital account balance, and the method of financing are added together.
	www.uiowa.edu /ifdebook/ebook2/glossary/balanceofpayments.shtml (407 words)

	Balance of Payments (Australian Parliamentary Library - Monthly Economic and Social Indicators Feature Article)
		The balance on current account is equal to the imbalance between a country's level of national investment and its level of national saving.
		If a country's balance on current account is in surplus in a period, then national saving exceeds national investment and the country is a net provider of investment funds to the rest of the world.
		If, on the other hand, a country's balance on current account is in deficit in a period, then national investment exceeds national saving and the country is a net recipient of investment funds from the rest of the world.
	www.aph.gov.au /library/pubs/mesi/features/bop.htm (748 words)

	The balance of payments myth (Site not responding. Last check: 2007-10-09)
		The balance of payments data is considered by most economists and various commentators as the single most important piece of information regarding the health of the economy.
		While the national balance of payments is of little economic significance and is a sterile concept, individual or company balance of payments are real things that carry economic significance.
		If the national balance of payments is an important indicator of the economic health, as various mainstream economists imply, one is then tempted to suggest that it would be a sensible idea to have balances of payments of cities or regions.
	www.brookesnews.com /042601frankbop.html (1163 words)

	Balance of payments - Wikipedia, the free encyclopedia
		The BOP is determined by the country's exports and imports of goods, services, and financial capital, as well as financial transfers.
		It reflects all payments and liabilities to foreigners (debits) and all payments and obligations received from foreigners (credits).
		The Balance of Payments for a country is the sum of the Current Account, the Capital Account, and the change in Official Reserves.
	en.wikipedia.org /wiki/Balance_of_payments (1532 words)

	Fridays Academy: The Balance of Payments \| Poverty and Growth Blog
		The BOP refers to economic transactions and financial flows between a country and the rest of the world for a given time period, keeping account of payments to and receipts from nonresidents.
		Thus the size/value of net errors and omissions cannot be taken as an indicator of the relative accuracy of the balance of payments.
		The trade balance is often a timely indicator of trends in the current account (as trade data are often easier to collect and more readily available than trade in services).
	pgpblog.worldbank.org /fridays_academy_the_balance_of_payments (760 words)

	Balance of payments: definition, impact on Canadians' lives, example and related links (via CobWeb/3.1 ... (Site not responding. Last check: 2007-10-09)
		The balance of payments is a comprehensive statement of a country’s economic transactions with the rest of the world for a given period of time—normally a quarter or a year.
		The balance of payments should not be confused with the balance of trade, which is a narrower concept that measures only trade in goods and services.
		Balance of payments statistics are quite useful in analyzing changes in currency values.
	www.economiecanadienne.gc.ca.cob-web.org:8888 /english/economy/balance_payment.html (371 words)

	balance of payments — Infoplease.com
		balance of payments, balance between all payments out of a country within a given period and all payments into the country, an outgrowth of the mercantilist theory of
		Balance of payments includes all payments between a country and its trading partners and is made up of the balance of trade, private foreign loans and their interest, loans and grants by governments or international organizations, and movements of gold (capital account).
		A chronically unfavorable balance of payments, when debits exceed credits, may affect the stability of the nation's currency, particularly where exchange rates are no longer fixed.
	www.infoplease.com /ce6/bus/A0805849.html (381 words)

	The actual US 2002 balance of payments (Site not responding. Last check: 2007-10-09)
		balance of payments statistics for 2002, reported by the Bureau of Economic Analysis at http://www.bea.doc.gov/.
		This line measures the extent of that participation and is sometimes referred to as the "balance of payments" in a fixed exchange rate system.
		Based on the way the balance of payments data is collected, it seems likely that the primary source of the statistical discrepancy is on the capital account side rather than the current account side.
	www.eco.utexas.edu /graduate/Konstantinova/i10_US2002.htm (2200 words)

	Balance of Payments (Site not responding. Last check: 2007-10-09)
		Ultimately all the payments to foreigners must equal all the payments from foreigners, with any difference made up by increases or decreases in the central bank’s foreign reserves.
		And payments to foreigners can only exceed payments from foreigners if the central bank is able to dip into its foreign reserves.
		So this person’s "balance of payments" shows some kind of substantial change, and it also shows you both sides of the change: the spending (current account) and the financing (financial account).
	faculty.uwb.edu /danby/bls324/macro/together.html (1392 words)

	Balance of Payments
		The trade deficit, on a BOP basis, increased from 3.7 per cent of GDP in 1996-97 to 3.9 per cent in 1997-98, despite the sharp deceleration in import growth.
		The capital account in the balance of payments, which had shown an impressive surplus of U.S. $ 10.4 billion in 1997-98, is likely to be lower in 1998-99.
		The debt service payments, as a ratio of current receipts, continued to improve over the years declining from 30.2 per cent in 1991-92 to 19.5 per cent in 1997-98.
	www.ieo.org /budget99/external_sector.html (1749 words)

	National Statistics Online
		A summary of capital transfers in the UK Balance of Payments accounts, showing credits, debits and balances and including estimates of debt forgiveness and capital transfers to/from EU institutions.
		Detailed annual estimates of the UK balance of payments, including estimates for the current account (trade in goods and services, income and current transfers), the capital account, the financial account and the International Investment Position.
		The object of the balance of payments accounts is to identify and record transactions between residents of the United Kingdom and residents abroad (non-residents) in a way that is suitable for an...
	www.statistics.gov.uk /CCI/nscl.asp?ID=5819 (557 words)

	Economic indicators - Balance of payments
		During 1998, the Colombian balance of payments registered a current account deficit of US$5.9 billion (5.7% of GDP), which was financed by a surplus of US$4.7 billion (4.6% of GDP) in net capital inflows and by international reserves of US$1.4 billion.
		For the first quarter of 1999, the balance of payment shows a decrease in the imbalance of the current account of US$1.4 billion, from US$2.1 billion in 1998 to US$694 million in 1999, explained by the fall in imports as a consequence of the deceleration economic activity.
		1/ The statistics correspond to the new Balance of Payment measure, according with the Balance of Payment Methodology of the International Monetary Fund Balance of Payment Manual 5th Edition.
	www.banrep.gov.co /estad/ingles/pg5992.htm (254 words)

	Economy - Balance of Payments
		The combination of a narrowing external trade gap and a sharp rise in the services balance caused Jordan's current account deficit to drop to its lowest level since 1990.
		In 1997 the service balance surplus increased by 1.8%, but decreased as a percentage of the GDP from 27.8% in 1996 to 26.9% in 1997.
		The increase in the services balance surplus led to an increase in its coverage of the trade balance deficit, to 83.7% in 1997, compared to 75.4% in 1996.
	www.kinghussein.gov.jo /economy8.html (715 words)

	Tutor2u - Trade - Balance of Payments
		It is the sum of four separate trade balances between the UK and the Rest of the World.
		Firstly, the balance of trade in goods and secondly the balance of trade in services.
		The current account balance for the UK economy is shown in the chart below: The data is for each quarter since 1986.
	www.tutor2u.net /economics/content/topics/trade/balance_of_payments.htm (293 words)

	Ecuador’s Balance of Payments and Foreign Debt
		Forecasts for the 2001 trade balance are for a surplus of $427 million, of which exports will be a low percentage.
		As for the services balance, the crisis has meant more migration of Ecuadoreans abroad and family remittances sent home have become an important element in the balance of payments.
		It has to be stressed that the current account deficit in Ecuador is due to the major deficit in the services balance ($2,255 million for 2001) and fundamentally, the foreign debt service.As for the capital account, in 2001 direct foreign investment is calculated to be $1,205 million, at least $500 million more than last year.
	www.jubileeresearch.org /finance/Ecuador_balance_payments.htm (659 words)

	Tutor2u - Trade - What is the Balance of Payments?
		The Balance of Payments records financial transactions between the UK and the international economy.
		This might be achieved by attracting direct foreign investment into the economy, or by the government running down official reserves of foreign currency.
		Another way of "financing" a balance of payments deficit on the current account is to attract short term banking flows into the financial system by offering an attractive rate of interest.
	www.tutor2u.net /economics/content/topics/trade/bop_accounts.htm (259 words)

	Balance of Payments
		Concepts of BP surplus/deficit Surplus and deficit are economic concepts that are used to measure disequilibrium in the balance of payments.
		Autonomous activities by the private sector generally cause a gap in the balance of payments.
		The basic balance is the sum of the current account balance and the net movement of long term capital (direct and portfolio investments).
	www.econ.iastate.edu /classes/econ355/choi/bal.htm (1674 words)

	What Is The Balance Of Payments?
		The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time.
		But in practice this is rarely the case and, thus, the BOP can tell the observer if a country has a deficit or a surplus and from which part of the economy the discrepancies are stemming.
		The BOP is divided into three main categories: the current account, the capital account and the financial account.
	www.investopedia.com /articles/03/060403.asp (951 words)

	Bureau of Economic Analysis: International Economic Accounts
		The U.S. balance of payments summarizes quarterly economic transactions of the United States with foreigners (i.e., foreign countries and international organizations).
		These transactions include trade in goods and services, receipts and payments of income, current and capital transfers, and transactions in U.S.-owned and foreign-owned assets.
		Balance of payments and direct investment position data
	www.bea.gov /bea/di1.htm (369 words)

	Balance of payments - Statistics New Zealand
		The balance of payments (BOP) measures the financial transactions between New Zealand residents and the rest of the world.
		BOP provides a record of New Zealand's transactions in goods, services, income and transfers with the rest of the world, and net flows of foreign investment in New Zealand, and New Zealand investment overseas.
		It draws a series of balances between inward and outward transactions.
	www.stats.govt.nz /economy/economic-indicators/balance-of-payments.htm (150 words)

	New York's Balance of Payments with Washington - The Public Policy Institute
		The federal government's tax revenues in each state are heavily influenced by the relative wealth of the state.
		The state collected nearly $127 billion in federal spending, an increase of some $7 billion that was driven largely by higher payments for Social Security, Medicare and education.
		The Public Policy Institute allocates to New York State $8.1 billion in federal tax payments from individuals who live in New Jersey or Connecticut but work in New York.
	www.ppinys.org /nybalpayments.htm (421 words)

	WTO \| legal texts - Marrakesh agreement
		Furthermore, that Member shall indicate the amount by which the price-based measure exceeds the bound duty clearly and separately under the notification procedures of this Understanding.
		Members shall seek to avoid the imposition of new quantitative restrictions for Balance-of-Payments purposes unless, because of a critical Balance-of-Payments situation, price-based measures cannot arrest a sharp deterioration in the external payments position.
		In those cases in which a Member applies quantitative restrictions, it shall provide justification as to the reasons why price-based measures are not an adequate instrument to deal with the Balance-of-Payments situation.
	www.wto.org /english/docs_e/legal_e/09-bops_e.htm (1484 words)

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