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2019-06-08

【学习笔记】International Finance 国际金融论研究 学习笔记-16


Part I

Basics ofInternational Finance --16


Ch3 --5

Balanceof Payments

Relationship between Balance of Payments and NationalIncome Accounting --3


(S –I) + (T –G) ≡ X –M ≡ BCA


1.     This shows that there is an intimaterelationship between a country’s BCA and how it finances its domesticinvestment and pays for government spending.


2.     If (S –I) < 0, then a country’s domesticsavings is insufficient to finance domestic investment.


3.     Similarly, if (T –G) < 0, then tax revenueis insufficient to cover government spending and a government budget deficitexists.



Relationship between Balance of Payments and NationalIncome Accounting --4


(S –I) + (T –G) ≡ X –M ≡ BCA


1.     When BCA < 0, government budget deficitsand/or part of domestic investment are being financed by foreign-controlledcapital.


2.     To reduce a BCA deficit, one of the followingmust occur:

        1)Fora given level of S and I, the government budget deficit

             (T–G) must be reduced.

        2)Fora given level of I and (T –G), S must be increased.

        3)Fora given level S and (T –G), I must fall.






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2019-6-8 00:35:50
thanks for sharing
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2019-6-8 06:09:57
为您点赞!
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2019-6-8 13:08:18
感谢分享,点赞!
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2019-6-8 13:16:34
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