Abstract: In Chapter 12, we went through the balance-of-payments accounts from the top down. We started with trade in goods and services and investment-income flows, paused to calculate the current-account balance, and then went on to the capital account. The surplus or deficit in the balance of payments appeared at the end as the change in official reserves. It reflected official purchases or sales of foreign currency designed to keep the exchange rate from changing.
Publication Year: 2000
Publication Date: 2000-01-13
Language: en
Type: book-chapter
Indexed In: ['crossref']
Access and Citation
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot