TRADE AND FINANCIAL FLOWS IN A WORLD ACCOUNTING FRAMEWORK: A BALANCED WAM FOR 1990

Robert Vos and Niek de Jong

Review of Income and Wealth, 1995, vol. 41, issue 2, 139-159

Abstract: How accurately do we measure the external deficit of the U.S. or the surplus of Japan? If checked at the global level, statistics on international trade and finance show large discrepancies. Such global statistical discrepancies hamper the analysis and understanding of world economic developments. An accounting framework—labelled World Accounting Matrix (WAM)—is proposed to cross‐check the statistical consistency of commodity flows, international payments and internal balances across countries. The framework is applied to data for 1990. To obtain global consistency, substantial adjustments had to be made to the estimates of the external balances of the U.S. and Japan. The implications for global modelling work are potentially vast.

Date: 1995
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/j.1475-4991.1995.tb00105.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:revinw:v:41:y:1995:i:2:p:139-159

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0034-6586

Access Statistics for this article

Review of Income and Wealth is currently edited by Conchita D'Ambrosio and Robert J. Hill

More articles in Review of Income and Wealth from International Association for Research in Income and Wealth Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().