Int Econ-Ch010-S2012 International Economics 国际经济学课件.pptxVIP

1 Balance of Payments CHAPTER T E N 2 Balance of Payments The balance of payments provides a summary statement of international transactions for a nation for a specified period of time. 3 Key categories Credit Entries (Transactions) Transactions that involve receipts into the country (payments from foreign sources). Major Types: Exports of Goods and Services Financial Inflows Increases in foreign assets in a nation Decreases in a nation’s assets abroad 4 Key categories Credit Transactions Debit Entries (Transactions) Transactions that involve payment by residents in the country to foreign countries and/or sources Major Types: Imports of Goods and Services Financial Outflows Increases in a nation’s assets abroad Decreases in foreign assets in a nation 5 Double entry bookkeeping In the balance of payment accounting, each international transaction is recorded twice – once as a credit, once as a debit. Example: $500 in exports to be paid in 3 months time Credit (+) Debit (-) Goods Export $500 Financial Outflow $500 6 Double entry bookkeeping Example: A transaction involving $200 spent by a US tourist in London on services Credit (+) Debit (-) Service import $200 Financial inflow $200 7 Double entry bookkeeping Example: A transaction involving $100 US government foreign aid given to the government of a developing nation Credit (+) Debit (-) Unilateral Transfer $100 Financial Inflow $100 8 Double entry bookkeeping Example: A transaction involving $400 in foreign stocks paid to increase foreign bank balances in the U.S. Credit (+) Debit (-) Financial Outflow (stock) $400 Financial Inflow (bank balance) $400 9 The balance of payments for the U.S. -- 2010 2010 data from the Bureau of Economic Analysis in billions of U.S. dollars WWW link Exports of goods and services and income receipts 2,500.0 Exports of goods and services 1,837.5 Goods, balance of payments basis 1,288.6 Services 548.8 Transfers under U.S. military agency sales contracts 1