国际金融英文经常账户储备统计误差

BriefintroductionofthebalanceofThestructureofbalance-of-MacromeaningofthecurrentaccountMacromeaningoftheoverallTheinternationalinvestment🙣Balanceof🙢国际收支平衡🙣CurrentAccount,FinancialAccount,OfficialInternationalReserves,StatisticalDiscrepancy 国际储备、统计误🙣Double-EntryAccounting🙢复式记帐🙣CreditandDebit🙢贷 与借🙣InternationalInvestment🙢国际投资头

BriefintroductionofthebalanceofThestructureofbalance-of-MacromeaningofthecurrentaccountMacromeaningoftheoverallTheinternationalinvestmentDefinitionofthebalanceof🙣Thebalanceofpaymentsisarecordoftheeconomictransactionsbetweentheresidentsofonecountryandtherestoftheworld🙢🙣🙣 🙣InternationalBriefintroductionofthebalanceof🙣Definitionofthebalanceof🙣Balanceofpayments🙢Double-Entry🙣Itmeansthateachinternationaltransactionisrecordedtwice,onceasacreditandonceasadebitofanequalamountExportofgoodsand贷Importsofgoodsand借ereceivedfrom贷epaidto借Unilaltransfers贷Unilaltransfers借Changes(Increases)inU.S.direct借Changesinforeigndirectinvestmentsin贷ChangesinU.S.holdingsofforeignstocks借ChangesinforeignholdingsofU.S.stocksand贷ChangesinU.S.loanstoforeignersandother借ChangesinforeignloanstoU.S.andother贷ChangesinU.S.officialholdingsofforeign借ChangesinforeignofficialholdingsofU.S.贷Example🙣SupposethatU.S. ernmentexported$20millionofwheattoRussia,andthatRussiapaidU.S.20milliondollarExample🙣SupposethatU.S. ernmentexported$20millionofwheattoRussia,andthatRussiapaidU.S.20milliondollar(Million贷方ExportofU.S.officialinternationalreserveassetsincrease(gold)Example🙣U.S.A imported$34millionofnaturalgas BinCanada,andsupposethatApaidBacheckofaNewYorkExample🙣U.S.A imported$34millionofnaturalgas BinCanada,andsupposethatApaidBacheckofaNewYork(MillionImportofgoods(naturalChanges(increases)inforeignholdingsofU.S.stocksandExample🙣Some touristsspent$6millionwatchingaseriesofNBAgamesinU.S.TheypaidviatheirdepositsinaNewYorkExample🙣Some touristsspent$6millionwatchingaseriesofNBAgamesinU.S.TheypaidviatheirdepositsinaNewYork(MillionExportof6ChangesinU.S.holdingsofforeignstocksandbonds6Example🙣U.S.TreasurypaidJapaneseinvestors$25millionofinterestswithacheckofaYorkExample🙣U.S.TreasurypaidJapaneseinvestors$25millionofinterestswithacheckofaYork(MillionepaidtoChangesinforeignholdingsU.S.stocksandExample🙣TheU.S. ernmentprovidedtheEgyptianernment$8millionofwheatasanExample🙣TheU.S. ernmentprovidedtheEgyptianernment$8millionofwheatasan(MillionExportof8Unilal8Exportofgoodsand贷Importsofgoodsand借ereceivedfrom贷epaidto借Unilaltransfers贷Unilaltransfers借Changes(Increases)inU.S.direct借Changesinforeigndirectinvestmentsin贷ChangesinU.S.holdingsofforeignstocks借ChangesinforeignholdingsofU.S.stocksand贷ChangesinU.S.loanstoforeignersandother借ChangesinforeignloanstoU.S.andother贷ChangesinU.S.officialholdingsofforeign借ChangesinforeignofficialholdingsofU.S.贷

BriefintroductionofthebalanceofThestructureofbalance-of-MacromeaningofthecurrentaccountMacromeaningoftheoverallTheinternationalinvestmentThestructureofbalance-of-Currentaccount Goodsandservicebalanceebalance ltransferFinancialaccountCapitalandfinancialOfficialinternationalreserveGold,foreigncurrency,Thecurrent e srves e

Currentaccount

GoodsandAgriculturalproducts,machinery,autos,petroleum,electronics,textiles,etc.Travelsandtourism,communicationsservices,royalties,transportationcosts,bankingservicesandinsurancepremiums.Servicesalsoincludeitemssuchastransfersofgoodsundermilitaryprograms,constructionservices,legalservices,technicalservice.GoodsandCurrent

Travel&transportrecpts.13.4otherservices,net Allservices,Balanceongoods&GoodsandCurrent

Travel&transportrecpts.otherservices, Allservices, Balanceongoods&GoodsandCurrent

Travel&transportrecpts.otherservices, Allservices, Balanceongoods& Exportofgoodsand贷Importsofgoodsand借ereceivedfrom贷epaidto借Unilaltransfers贷Unilaltransfers借Changes(Increases)inU.S.direct借Changesinforeigndirectinvestmentsin贷ChangesinU.S.holdingsofforeignstocks借ChangesinforeignholdingsofU.S.stocksand贷ChangesinU.S.loanstoforeignersandother借ChangesinforeignloanstoU.S.andother贷ChangesinU.S.officialholdingsofforeign借ChangesinforeignofficialholdingsofU.S.贷UStrade

Imports

Exports0-

deficitereceiptsand🙣Thisitemconsistsofinternationalinterest,dividendpaymentsandthethenetabroadearningsofdomesticallyownedfirms–thatis,earningsononecountry’sinvestmentsabroadlesspaymentsonforeignassetsinthis🙣Italsoincludesemployee l🙣Itincludestransfersofgoodsandservicesorfinancialassets(moneygift)betweenthiscountryandtherestofthe🙢Private GoodsandCurrent

Travel&transportrecpts.otherservices, Allservices, Balanceongoods& Currentaccountereceipts&investmente,net-13.7employeecompensation Alle, ltransfers,net-50.5 (1)+(2)+(4)+(5)=(6)—ThecurrentAccountBalanceBalanceoncurrent Thestructureofbalance-of-CurrentGoodsandservicebalanceebalance ltransferFinancialaccountCapitalandfinancialOfficialinternationalGold,foreigncurrency,SDRs,Financial🙣Privatefinancialaccountbalancereferstothenetflowsoffinancialassetsandsimilarclaims.🙢Internationaldirect🙢Internationalindirectinvestment(Portfolio🙣Internationalinflowofsecurities,credit,saving,andso🙣Securitiesincludebonds,stocks,andFinancial🙣Direct 🙣Directinvestmentdirectlyoperatesinthecountry,whileisownedorcontrolledbya.Twowaysofdirectinvestment:1)buys inthelocal expandsitsoperationintolocal🙣Cheaper🙣Specialinvestment🙣🙣Operationofdirect🙣🙣Notjust🙣PoliticalDirect AinU.S.owns50% B. Afurtherincreasesitsholding 🙣FordU.S.owns50%ofaCanadian NowFordextendscreditlinetothis.Portfolio AinU.S.owns5% B Afurtherincreasesitsstock 🙣FordU.S.owns8%ofaCanadian NowFordextendscreditlinetothis.Case🙣Case🙢July2012,Adidasadmittedthe nofclosingitsfactorybasedinSuzhou,theonlyonein .Atthesametime,itislaunchingthenew inShanghaiand nstoopen500newstoresbytheendof2012.🙢Whatistherationalebehindtheparadoxofclosingonlyfactoryandopeningnewinthe

SDRs,drawing🙣WhatareU.S.Treasury 🙢Gilt-edged🙣Howmuch holdtheU.S.🙢July2014-1.26🙢July2015-1.27🙢Why investonU.S.Treasury+financialaccount+officialinternationalreserves+statisticaldiscrepancyStatistical🙣Dataassociatedwithagiventransactioncomefromdifferent🙢Differentsourcesseldomagreewitheachotherin🙢Usuallyduetothebook🙢Warnsusthatsomethingis🙢Netresultof🙣Questionsand🙢Number

BriefintroductionofthebalanceofThestructureofbalance-of-MacromeaningofthecurrentaccountMacromeaningoftheoverallTheinternationalinvestmentMacromeaningofthecurrentaccountbalancesseveralFinancingandinternationalfinancialflows: foreigninvestment(If).CA=Nationalsaving(S)versusdomesticinvestment(Id).S=Id+If,sothatCA=S–BasicDomesticproduction(Y)versusnationalexpenditure(E). Y=C+Id+G+(X–M),E=C+Id+G,andCA=(X–M) y,soCA=Y–C=Domestichouseholdconsumptionofgoodand ernmentspendingongoodsandX=foreignpurchasesofthecountry’sexportsofgoodsandM=thecountry’spurchasesofimportsofgoodsandservicesotherBasicY=C+Id+G+(X–E=C+Id+G,andCA=(X– y,soCA=Y–CurrentaccountCurrentaccount =Netforeign =Thedifferencebetweennationalsaving =S–Idanddomesticinvestments=Thedifferencebetweendomesticproduct =Y–EandnationalexpenditureCurrentAccountBalancesfortheU.S.,1963-CurrentAccountBalancesforCanada,1963-CurrentAccountBalancesforJapan,1963-CurrentAccountBalancesforMexico,1963-🙣Questionsand🙢Number1&

BriefintroductionofthebalanceofThestructureofbalance-of-MacromeaningofthecurrentaccountMacromeaningoftheoverallTheinternationalinvestmentMacromeaningoftheoverall🙣Netforeigninvestment(orborrowing)includesthebalanceonnetprivate(ornonofficial)capitalinflows(KA)andflowsofofficialreserveassetsIf=FA+🙣Theofficialsettlementsbalance(B)结算余额measuresthesumofthecurrentaccountbalanceplustheprivatecapitalaccountbalanceB=CA+🙣Anyimbalanceintheofficialsettlementsbalancemustbefinanced(orpaidfor)throughofficialreservesflows:B+OR=Macromeaningoftheoverall🙣IftheoverallbalanceBissurplus,it🙢anaccumulationofofficialreserveassetsby🙢adecreaseinforeignofficialreserveholdingsthecountry’s🙣IftheoverallbalanceBisdeficit,it🙢adecreaseofofficialreserveassetsbythe🙢anaccumulationinforeignofficialExportofgoodsand贷Importsofgoodsand借ereceivedfrom贷epaidto借Unilaltransf