The Balance of Payments

Felix I. Lessambo
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Felix I. Lessambo: Fordham University

Chapter Chapter 3 in International Finance, 2021, pp 29-43 from Springer

Abstract: 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 accountBalance of payments’ accountscurrent account, the capital accountBalance of payments’ accountscapital account, and the financial accountBalance of payments’ accountsfinancial 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.

Date: 2021
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DOI: 10.1007/978-3-030-69232-2_3

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