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Balance of Payments Mindmap

The document defines key terms related to a country's balance of payments including: the current account, which measures the flow of goods, services, and income in and out of a country; the capital/financial account, which measures the flow of capital in and out; and reserves, which are used as a statistical adjustment for errors. It also lists the components that make up a country's overall balance of payments.

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2K views1 page

Balance of Payments Mindmap

The document defines key terms related to a country's balance of payments including: the current account, which measures the flow of goods, services, and income in and out of a country; the capital/financial account, which measures the flow of capital in and out; and reserves, which are used as a statistical adjustment for errors. It also lists the components that make up a country's overall balance of payments.

Uploaded by

cckkjjeerryy
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Current AC + Capital/Financial AC = 0 (Equilibrium)

Denition: ow of goods and services, plus incomes owing into and out of the country, plus net transfer of money into and out of the country.

Current AC + Capital/Financial AC + Reserves = 0 (Balance) Denition: accommodates the surplus or decits in the overall balance Denition: statistical adjustment to record the value of errors and omissions in calculations Official Reserves Invisible Net Errors and Omissions Current Account Net Current Transfers Net Income Flows

Trade in Services Account

Denition: purchase and sales of assets

Balance of Payments

Visible

Trades in Goods Account

Direct Investment (Net) Financial Account Portfolio Investment (Net) Capital Account

Denition: debit forgiveness and migrant transfers and acquisition and disposal of nonnancial assets (transfer of ownership of xed assets)

Other Investments (Net)

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