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Balance of Payments Accounting, Balance of Payments AccountsLecture, The Balance of Payments Identity, Balance of Payments Trends in Major Countries As the main contents of the lecture International financial management chapter 3 "The Balance of Payments". | INTERNATIONAL FINANCIAL MANAGEMENT Fourth Edition EUN RESNICK Copyright 2007 by The McGraw-Hill Companies Inc. All rights reserved. The Balance of Payments 3 at Th Chapter Objective This chapter serves to introduce the student to the balance of payments. How it is constructed and how balance of payments data may be interpreted. 3-1 Copyright 2007 by The McGraw-Hill Companies Inc. All rights reserved. Chapter Three Outline Balance of Payments Accounting Balance of Payments Accounts The Current Account The Capital Account Statistical Discrepancy Official Reserves Account The Balance of Payments Identity Balance of Payments Trends in Major Countries 3-2 Copyright 2007 by The McGraw-Hill Companies Inc. All rights reserved. 1 Balance of Payments Accou 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. 3-3 Copyright 2007 by The McGraw-Hill Companies Inc. AH rights reserved. Balance of Payments Exam- Suppose that Maplewood Bicycle in Maplewood Missouri USA imports 100 000 worth of bicycle frames from Mercian Bicycles in Darby England. There will exist a 100 000 credit recorded by Mercian that offsets a 100 000 debit at Maplewood s bank account. This will lead to a rise in the supply of dollars and the demand for British pounds. 3-4 Copyright 2007 by The McGraw-Hill Companies Inc. AH rights reserved. Balance of Payments Account The balance of payments accounts are those that record all transactions between the residents of a country and residents of all foreign nations. They are composed of the following The Current Account The Capital Account The Official Reserves Account Statistical Discrepancy 3-5 Copyright 2007 by The McGraw-Hill Companies Inc. AH rights reserved. 2 The Current Account Includes all imports and exports of goods and .
