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2021 | OriginalPaper | Chapter

3. The Balance of Payments

Author : Felix I. Lessambo

Published in: International Finance

Publisher: Springer International Publishing

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Abstract

A country’s balance of payments tells whether it saves enough to pay for its imports. The BoP is divided into three main categories: the current account, the capital account, and the financial account. Within these three categories are subdivisions, each of which accounts for a different type of international monetary transaction. In accordance with the general principle of double-entry business accounting, every increase in an asset must be offset by a decrease in another asset or by an increase in a liability, and a decrease in an asset must be offset by an increase in another asset or by a decrease in a liability.

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Footnotes
1
Robert A. Mosbacher, Michael R. Darby, Allan H. Young, and Carol S. Carson, 1990.
 
2
Robert A. Mosbacher, Michael R. Darby, Allan H. Young, and Carol S. Carson, 1990.
 
3
Robert A. Mosbacher, Michael R. Darby, Allan H. Young, and Carol S. Carson, 1990.
 
4
Robert A. Mosbacher, Michael R. Darby, Allan H. Young, and Carol S. Carson, 1990.
 
5
OECD (2015-2016): Globalization—FDI and Balance of Payments.
 
6
IMF (2013): BoP and International Investment Position Manual (BPM6), Chapter 8-Financial account, p. 133.
 
7
IMF (2013): BoP and International Investment Position Manual (BPM6), Chapter 8- Financial account, p. 134.
 
Metadata
Title
The Balance of Payments
Author
Felix I. Lessambo
Copyright Year
2021
Publisher
Springer International Publishing
DOI
https://doi.org/10.1007/978-3-030-69232-2_3