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Topic: Capital account

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	Capital Account
		The net capital inflow is represented by a capital account surplus equivalent in magnitude to the current account deficit plus the increase in foreign reserves.
		The net capital outflow is represented by a capital account deficit equivalent in magnitude to the current account surplus increased by the amount of reserves lost.
		The graph extrapolates the trends exhibited by the current and capital accounts to the end of 1998 under the assumption that economic conditions for Q4 were not significantly different from Q3.
	lsb.scu.edu /emerge/bo/capital.html (1138 words)

	Finance & Development, December 1998 - Capital Account Liberalization and the IMF
		In the wake of the Asian crisis, which has seen sharp reversals of capital flows for a number of countries, officials and academics alike have questioned how desirable capital account liberalization is and whether it is advisable to vest the IMF with responsibility for promoting the orderly liberalization of capital flows.
		Correspondingly, capital account convertibility means the removal of foreign exchange and other controls, but not necessarily all tax-like instruments imposed on the underlying transactions, which need not be viewed as incompatible with the desirable goal of capital account liberalization.
		Capital account liberalization and financial liberalization more generally are inevitable for countries that wish to take advantage of the substantial benefits from participating in the open world economic system in today's age of modern information and communications technologies.
	www.imf.org /external/pubs/ft/fandd/1998/12/eichen.htm (2602 words)

	Capital Account Liberalization - Latin American Experience \| Economy Books
		Thus benefits of capital account liberalization may accrue in the long run whereas in the short run, it may pose some problems if prudent measures are not adopted to curtail excess short-term flows.
		The article explains the reserve requirement on capital inflows i.e., a price-based capital account regulation in addition to the discussion of the behavior of non-FDI private capital flows and the debate on the effectiveness of private capital account regulations.
		When a country adopts capital account liberalization, there is a general tendency for huge capital inflows followed by an over-appreciation of the real exchange rate.
	www.icfaipress.org /Books/CapitalAccount_ov.asp (2888 words)

	The Regional Economist
		In balance-of-payments accounting, the mirror image of the current account is a measure known as the capital and financial account, which measures the international flow of capital assets.
		Instead of thinking that capital flows are financing the current account deficit, it may well be that the trade deficit is driven by capital flows: Capital inflows keep the dollar stronger than it otherwise would be, tending to boost imports and suppress exports, thus leading to a current account deficit.
		While the conclusion that the capital account is driving the current account is surely an overstatement, it is worth emphasizing that capital flows are a highly dynamic feature of the world economy, driven by a number of economic forces.
	www.stlouisfed.org /publications/re/2006/b/pages/account_deficit.html (3132 words)

	How To Define The Capital Account In Your Law Partnership Agreement (via CobWeb/3.1 planetlab1.tamu.edu) (Site not responding. Last check: 2007-10-21)
		In the event and to the extent that the capital account of any Partner, as determined from time to time, is less than the amount set forth opposite such Partner's name on Schedule 2, such Partner shall be required to contribute such deficiency to the capital of the Partnership promptly upon notification thereof.
		In the event that the capital account of a Partner exceeds the amount set forth opposite such Partner's name on Schedule 2, the amount of such excess may be withdrawn, subject to the approval of the Management Committee.
		Capital accounts actually change each time a financial statement is calculated based on the profits or losses of the firm added or subtracted to the individual accounts prorated.
	weilandco.com.cob-web.org:8888 /new/article2.html (1575 words)

	Capital account - Wikipedia, the free encyclopedia
		The capital account is one of two primary components of the balance of payments, the other being the current account.
		The capital account records all transactions between a domestic and foreign resident that involves a change of ownership of an asset.
		A capital account debit is recorded if a transaction leads to a domestic resident acquiring a foreign asset (a capital outflow).
	en.wikipedia.org /wiki/Capital_account (262 words)

	Go With The Flows?: Capital Account Liberalisation
		Capital account liberalisation is not an all or nothing process, and there are lessons to be learnt from previous experiences of liberalisation.
		Capital flight may be defined as the transfer of funds out of countries motivated by domestic economic and political uncertainty (Schineller, 1997), but is often used to refer to all flows from capital-scarce to capital-abundant economies.
		The apparent absence of research on the preconditions for capital account liberalisation to improve (or at least leave unchanged) the access of domestic firms to credit is indeed paralleled by the absence of research to indicate the preconditions for capital account liberalisation to be at least poverty-neutral.
	globalization.icaap.org /content/v1.1/brettonwoods.html (20321 words)

	Capital Account Liberalization and the Role of the Fund - Remarks by Michel Camdessus
		Rather, their difficulties arose from the macroeconomic environment and institutional setting in which they opened their capital accounts and the way in which measures to open their capital accounts were sequenced with other reforms.
		In decades past, when most balance of payments transactions tended to be in the current account, it made sense for the Fund to focus on current account issues, although of course it also paid attention to the financing of the current account via the capital account.
		But the big picture is clear: there is an irreversible trend toward capital account convertibility, and all countries have an important stake in seeing that the process takes place in an orderly way, irrespective of where they themselves stand on the opening of their own capital accounts.
	www.imf.org /external/np/speeches/1998/030998.htm (1820 words)

	SSRN-Capital Flows, Capital Account Regimes, and Foreign Exchange Rate Regimes in Africa by Leonce Ndikumana
		This study examines capital flows and shifts in capital account and exchange rate regimes in African countries over the past two decades.
		Private capital inflows to Africa are limited due to several factors, including the weakness of the macroeconomic environment, underdeveloped financial systems, high country risk, and exchange rate misalignments.
		To attract foreign capital, any move toward capital account openness and exchange rate liberalization must be supported by reforms aimed at improving credibility of macroeconomic policy and establishing an investment-friendly environment.
	papers.ssrn.com /sol3/papers.cfm?abstract_id=378900 (472 words)

	Capital account liberalisation in an emerging economy: private capital flows, exchange rates and stock markets in India ...
		The emerging economies of Asia have in 1990s, emerged as the epicentre of private capital flows in the global economy, attracting a significant proportion of FDI and portfolio flows.
		At the macro level, capital account liberalisation is expected to lead to more efficient resource allocation at the global level Flows into capital scarce emerging economies would lead to decrease in interest rates, accelerated investment and higher growth.
		Some authors have argued (Ahuluwalia, M.S., 2002) that India has gained substantially from the liberalisation of capital account and given the controls on residents and strict limits on debt creating inflows, Indian economy is not vulnerable to shocks from such inflows and outflows.
	www.findarticles.com /p/articles/mi_m0OGT/is_1_3/ai_n8690364 (958 words)

	Capital flows in Japan - Wikipedia, the free encyclopedia
		Capital movements offset the surpluses or deficits in the current account.
		The other significant part of capital flows in the balance of payments is the movement in gold and foreign-exchange reserves held by the government, which represent the funds held by the Bank of Japan to intervene in foreign-exchange markets to affect the value of the yen.
		During the 1950s and the first half of the 1960s, when Japan faced chronic current account deficits, concern over maintaining a high credit rating in international capital markets and fear of having to devalue the currency and of foreign ownership of Japanese companies all led to tight controls over both inflow and outflow of capital.
	en.wikipedia.org /wiki/Capital_flows_in_Japan (1946 words)

	China's capital account liberalisation in perspective
		At the same time, I am also convinced that momentum in capital account liberalisation should be adapted to the degree of resilience of the domestic financial sector to external shocks and its ability to deal with large flows of foreign capital.
		In Scandinavia, Latin America and East Asia, capital account liberalisation gave rise to capital inflows that were too large for the domestic financial system to absorb safely.
		While there is room for debate about particular policies, the broad lesson is that capital account liberalisation is most likely to succeed if it takes place in a sound macroeconomic environment and if it forms part of a coherent programme of economic reform.
	www.bis.org /speeches/sp020912.htm (3586 words)

	Capital Account (Site not responding. Last check: 2007-10-21)
		Capital account reports flow of financial capital across international boundaries.
		Capital inflow: Foreigners are investing in a country.
		Deficit in capital account means that more domestic funds are flowing abroad than foreign funds are coming in.
	www.bsu.edu /classes/flowers/ppt116c7/tsld042.htm (36 words)

	Capital Ideas Advisors (Site not responding. Last check: 2007-10-21)
		A: Capital Ideas assists it's clients to determine their investment objectives and an asset allocation appropriate for the attainment of those goals.
		A: For most accounts, the minimum investment to begin your portfolio is $500,000, although in certain instances the minimum investment may be as low as $100,000.
		If you have a stockbroker, Capital Ideas can direct all trades through him or her and your assets will remain in the custody of that brokerage house.
	www.capitalideasadvisors.com /faq_answers.cfm (782 words)

	Capital Account
		This account summarises the amount of funds which have been invested in the business by the owner(s).
		For the structure of capital accounts for Partnerships, Limited Companies and Clubs and Socities you should refer to these sections separately.
		From Capital is deducted any Drawings taken by the owner (in effect their wages or share of the profit made which they want to spend on themselves - they probably have a house, partner and children to feed too!).
	homepage.ntlworld.com /kenneth.edwards3/accounting/accounting-courses/asacc/asacc-topics/asacc-topics-capacc.htm (251 words)

	McCann Wins $170 Mil. Capital One Account
		NEW YORK Capital One has awarded its estimated $170 million U.S. creative account to Interpublic Group's McCann-Erickson in New York, a client representative confirmed.
		The New York agency had been handling the account on an interim basis since the October announcement that the incumbent, D'Arcy Masius Benton and Bowles, would be dismantled at the end of 2002.
		The client has said that the account could have been split between agencies in the two different markets, and not necessarily given to the agencies that partnered together in the pitch.
	www.adweek.com /aw/national/article_display.jsp?vnu_content_id=1863905 (289 words)

	HSBC Guaranteed Capital Account: HSBC Bank UK
		The HSBC Guaranteed Capital Account is a deposit account that offers both an attractive rate of income and participation in the growth potential of a leading stock market index over a fixed term.
		The Guaranteed Capital Account offers exposure to the stock market but will not provide the full growth potential you would have through direct investment in stocks and shares.
		However, the HSBC Guaranteed Capital Account aims to protect you against falls in the stock market at maturity, whereas with direct investment in stocks and shares, you would be exposed to such falls.
	www.hsbc.co.uk /1/2/personal/savings-investments/guaranteed-capital-account (466 words)

	Our capital account surplus - Commentary - The Washington Times, America's Newspaper (Site not responding. Last check: 2007-10-21)
		After all, the current account deficit "improved" during every recession, and even moved into surplus during the worst recessions of 1975 and 1980-81.
		We have a large capital surplus, otherwise known as a current account deficit.
		The expected current account deficit is smaller in the United Kingdom (2.7 percent), yet British economic growth is also slower (2.2 percent).
	www.washtimes.com /commentary/20060624-112127-6758r.htm (634 words)

	Ajay Shah's blog: Opening the capital account - II (Site not responding. Last check: 2007-10-21)
		I think Bimal Jalan did an amazing job of chipping away at capital controls through his period as RBI governor, once the early problems of 1998 were put behind.
		Given the changes that have taken place over the last two decades, there is merit in moving towards fuller capital account convertibility within a transparent framework.
		Chidambaram said the finance ministry and RBI had discussions on capital account convertibility of the rupee, and the issue could have been part of Budget 2006.
	ajayshahblog.blogspot.com /2006/03/opening-capital-account-ii.html (1790 words)

	capital account Definition
		An account that tracks the movement of funds for investments and loans into and out of a country.
		The capital account makes up part of the balance of payments.
		An account in which a firm records expenditure on capital items.
	www.investorwords.com /5438/capital_account.html (172 words)

	The Hindu : Opinion / News Analysis : Capital account convertibility concerns
		RECENT ANNOUNCEMENTS that India will very soon be in the club of nations with full capital account convertibility (CAC) fulfils a long-awaited promise endorsed in the Tarapore Committee's recommendations of 1997.
		There was unprecedented volatility in exchange rates and capital flows, along with sharp downturns in the economies of the region.
		One is the possibility of opening the floodgates of legalised capital transfers abroad by domestic residents, with the goal of availing of the lower tax rates abroad or even parking funds in tax havens such as Mauritius.
	www.hindu.com /2006/04/03/stories/2006040306021100.htm (645 words)

	Royal Skandia Managed Capital Account
		With some investment accounts you are limited to one fund manager who can give you access to a limited range of investment funds.
		Establishment charge of 1.6% a year of the fund value of the premiums paid - whether single or regular taken up to the fifth Account anniversary from the last Account year in which the premiums were paid.
		This Charge is 8% of the fund value purchased by those premiums in the year in which they are paid, reducing by 1.6% a year on each Account anniversary to nil after five years.
	www.csmltd.com /royal_skandia_managed_capital_account.htm (857 words)

	Capital Accounts (via CobWeb/3.1 planetlab1.tamu.edu) (Site not responding. Last check: 2007-10-21)
		A Capital Account arises as soon as a Proprietor conducts any transactions with his/her business.
		Capital Introduced and Drawings can be shown as single figures, or may be explained in detail, depending on the wishes of the proprietor.
		The Profit for the Accounting Period, shown as £12,000 in the example above is added into the Capital Account and provides a balance against which to draw.
	www.fowles.co.uk.cob-web.org:8888 /CapitalAccounts.htm (489 words)

	Capital account liberalization, financial depth, and economic growth (via CobWeb/3.1 planetlab1.tamu.edu) (Site not responding. Last check: 2007-10-21)
		We show a statistically significant and economically relevant effect of open capital accounts on financial deepness and economic growth in a cross-section of countries over the period 1986 to 1995.
		Countries with open capital accounts over some or all of this period had a significantly greater increase in financial depth than countries with continuing capital account restrictions, and they also enjoyed greater economic growth.
		The observed failure of capital account liberalization to promote financial deepness among developing countries suggests potentially important policy implications concerning the desirability of opening up the capital account.
	ideas.repec.org.cob-web.org:8888 /p/fip/fedbwp/99-6.html (1225 words)

	Exchange Rate, capital account convertibility, foreign exchange, interest rates, Basel II: Banknet India
		Current account convertibility refers to currency convertibility required in the case of transactions relating to exchange of goods and services, money transfers and all those transactions that are classified in the current account.
		On the other hand, capital account convertibility refers to convertibility required in the transactions of capital flows that are classified under the capital account of the balance of payments.
		India adopted a gradualist approach while initiating aprocess of gradual capital account liberalisation in the early 1990s.
	www.banknetindia.com /banking/jalan1.htm (302 words)

	Capital One Current Customer FAQ (Site not responding. Last check: 2007-10-21)
		By keeping your Capital One account in good standing (not overlimit or past due and no dishonored payments to your account) and maintaining good standing with your other credit card accounts and credit reporting agencies, you improve the likelihood of a credit limit increase.
		Capital One offers different products and services that are available exclusively in different markets.
		We will periodically review accounts for credit limit increases and may even return your security funds based on account performance.
	www.capitalone.ca /faqs/current_customer.shtml (687 words)

	Capital & Credit Merchant Bank - FAQ
		For a Certificate of Deposit account you will be required to have a minimum of J$20,000 or US$1,000.00; while you may open a Capital Advantage Gold Account with J$500,000.
		For deposits to your account at CCMB you can credit our account at NCB or BNS and fax the deposit slip to us for confirmation.
		A: Capital and Credit Merchant Bank will accept cash (an account at CCMB or CCSL), a motor vehicle that is three years old or less, insurance, real estate or shares.
	www.capital-credit-mbank.com /faq.aspx (624 words)

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