The Residual Sector: The Balance of Payments

Graeme S. Dorrance

Chapter 12 in National Monetary and Financial Analysis, 1978, pp 140-144 from Palgrave Macmillan

Abstract: Abstract As indicated in Chapter 1, each participant in a financial transaction must have a partner participant. Therefore, if on balance, all the residents of a country have aggregate net balances on any accounts, non-residents must have countervailing balances on these accounts. Either all the domestic entries in a set of financial accounts sum to an account that is the equivalent of the balance of payments statement; or a set of financial accounts, including an account for the foreign sector,1 sums in all its entries to zero. Hence, the accounts for the foreign sector are accounts that countervail those of the domestic sectors.

Keywords: Interest Rate; Domestic Demand; International Capital; Financial Account; Residual Sector (search for similar items in EconPapers)
Date: 1978
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DOI: 10.1007/978-1-349-15858-4_13

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