The External Sector

Carmela Martín
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Carmela Martín: Jean Monnet Professor of European Integration, Universidad Complutense de Madrid

Chapter 6 in The Spanish Economy in the New Europe, 2000, pp 117-130 from Palgrave Macmillan

Abstract: Abstract The balance of payments of a country reflects all the current, capital and financial transactions of its residents with the residents of the rest of the world and, by extension, offers a global view of the way and extent to which an open economy achieves external equilibrium. In a sense, it also shows up both the weaknesses and strengths of a country’s productive system, and indeed helps identify some of the consequences of the structural problems afflicting an economy. Thus, balance-of-payments disequilibria, and current-account deficits in particular, are always an important point of reference for macroeconomic policy measures.

Keywords: Foreign Direct Investment; Direct Investment; Foreign Capital; Capital Account; Real Effective Exchange Rate (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59710-5_7

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DOI: 10.1057/9780230597105_7

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