Drug Trade and Statistical Discrepancies in the U.S. Balance of Payments

Ph.D Mehdi Hojjat ()
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Ph.D Mehdi Hojjat: Professor of Finance and International Business, Division of Business & Information Management, Neumann University,

International Journal of Business and Social Research, 2014, vol. 4, issue 8, 17-24

Abstract: This paper tests the hypothesis that residual values in balance of payment accounting are a random variable. Previous research in this area has been satisfied with an explanation that these residual values are just statistical discrepancies and are random in nature. This paper reveals a structural problem with the way balance of payment accounting has been set up and data are collected. The research proves that there is a positive bias about these values. Moreover, the research shows that there is a positive relationship between the size of the illicit drug market and the statistical discrepancies in the U.S. balance of payments.

Keywords: Balance of Payments; Drug Trade; Statistical Discrepancies; Balance of Payment Accounting (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:lrc:larijb:v:4:y:2014:i:8:p:17-24

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