Chapter2 BOP

Travel Passenger fares
Other transportation
Royalties and license fees Other private services U.S. government miscellaneous services Income receipts Income receipts on U.S.-owned assets abroad Direct investment receipts
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Chapter 2
（一）The Current Account
It includes all debit and credit items that are
exports and imports of
goods (Merchandise) services,
income receipts and income payments Gifts (Unilateral current transfers).
add up all the items for exports and imports of goods and services. It is an important balance within the current account. Measures a country’s net exports.
Chapter 2
Huang zhiyong
Nanjing University of Finance & Economics hzy196896@ Tel：84028241
2012年8月
Chapter 2
Payments among Nations ——BOP
Outline: What is BOP and its structure? The rule of Balance of Payments Accounts The analysis of BOP and the Macro Meaning The difference of BOP and IIP? Balance of Payments Trends in Major Countries
Capital inflows are Credits (+) Capital outflows are Debits (-)
Note the difference between capital and Asset
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Sub-balance： look at smaller collections of positive and negative items by grouping them into categories. these balance may be positive, negative or zero.
Other private receipts
U.S. government receipts
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Compensation of employees
Chapter 2 Imports of goods and services and income payments
Imports of goods and services
Textbook p15. Figure 2.1 美国联邦统计局 /
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中国国际收支平衡表 /
Chapter 2
Goods and services balance (or trade balance)
Goods, balance of payments Services Direct defense expenditures Travel Passenger fares Other transportation
Royalties and license fees
Other private services U.S. government miscellaneous services Income payments Income payments on foreign-owned assets in the United States Direct investment payments Other private payments
Government grants Private transfer：international migrants’ remittances of money and goods back to their families in the home country Charitable giving.
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（二）The rule of Balance of Payments Accounts
Method of Record：Double-entry bookkeeping
The positive items (credits，+)：an item for which the country must be paid. – Such as exports The negative items (debits，-)：an item for which the country must pay. – Such as imports.
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Financial account includes
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Income flows are mainly payments to holders of foreign financial assets.
Interest Dividends Other claims on profits by the owners of foreign businesses. Payments to foreign workers who are only in the country for a short time
单位：亿美元
1,086 92 994 426 0 426
653 21 632 89 3 86
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（二）The capital and Financial account
The capital account：it includes
capital transfers acquisition/disposal of non-produced, nonfinancial assets.
U.S. government payments
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Compensation of employees
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Unilateral current transfers, net
U.S. government grants
U.S. government pensions and other transfers
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Exports of goods and services and income receipts Exports of goods and services Goods, balance of payments Services
Transfers under U.S. military agency sales contracts
一.经常项目 A.货物和服务 a.货物 b.服务
1.运输
2.旅游 3.通讯服务 4.建筑服务
5
6 7 8
-230
-40 0 36
236
397 12 95
466
437 12 59
5.保险服务
6.权利使用费和特许费 9.咨询 10.广告、宣传 11.电影、音像 12.其它商业服务
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一、 What is BOP and its
structure?
（一）Definition:
The balance of payments is the record of the economic and financial flows that take place over a specified time period between residents and non-residents of a given country. Notice: Time period；Residents and nonresidents；
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9
10
11 12 13 14 15 16 17
-97
-3
33 -106 52 4 -2 59 1
16
4
65 4 186 23 1 247 9
113
7
32 111 134 20 3 188 8
13. 别处未提及的政府服务
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中国国际收支平衡表（2009）
B.收益 1.职工报酬 2.投资收益 C.经常转移 1.各级政府 2.其它部门 18 19 20 21 22 23 433 72 361 337 -2 340
Surplus：positive Deficit：negative
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二、The structure of BOP
Structure
BOP is composed of the Four major parts: The Current Account The Capital and Financial Account Changes in official international reserves Statistical discrepancy