國際金融托馬斯a普格爾(著)第14版chapter2-資料下載頁
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【正文】 fficial Reserve 官方儲備資產(chǎn) ?The official settlement balance: ? equals the sum of the current account balance plus the private capital account balance. B = CA + FA ? Because all items in the balance of payments must sum to zero, any imbalance in the official settlements balance must be financed (or paid for) through official reserves (OR) flows: B+OR=O ? If overall balance B is in surplus , it equals an accumulation of official reserve assets by the country or a decrease in foreign official reserve holdings of the country’ s assets (that is, a debit in the official reserves account). B 0 → OR 0 ? If overall balance B is in deficit (B0), it equals a decrease in the country’ s holdings of official reserve assets or an accumulation of foreign official reserve holdings of the country’ s assets (that is, a credit in the official reserves account). B 0 → OR 0 The international investment position A statement of the stocks of a nation’s international assets and foreign liabilities at a point in time， usually the end of a year. IIP VS BOP: Flows change stocks, and so it is with the BOP and IIP. ? For instance, if the country has a current account surplus for the year, its foreign investment (as a flow) is positive. The country is adding to its holding of foreign financial assets (or decreasing its foreign liabilities). The values of its international investment position at the end of that year will be more positive (or less negative) than it was at the beginning of the year. SUMMARY: ? CA 0 Lender CA 0 Borrower ? Net stock of foreign 0 creditor Net stock of foreign 0 debtor flows over time stocks at a point in time 謝謝觀看 /歡迎下載 BY FAITH I MEAN A VISION OF GOOD ONE CHERISHES AND THE ENTHUSIASM THAT PUSHES ONE TO SEEK ITS FULFILLMENT REGARDLESS OF OBSTACLES. BY FAITH I BY FAITH
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