【正文】
Multinational Financial Management Alan Shapiro 7th Edition Sons Power Points by Joseph F. Greco, . California State University, Fullerton 1 CHAPTER 5 THE BALANCE OF PAYMENTS AND INTERNATIONAL LINKAGES 2 CHAPTER OVERVIEW I. BALANCEOFPAYMENT CATEGORIES II. THE INTERNATIONAL FLOW OF GOODS, SERVICES,AND CAPITAL III. COPING WITH CURRENT ACCOUNT DEFICITS 3 PART I. BALANCEOFPAYMENT CATEGORIES A. THE BALANCE OF PAYMENTS (BOP) 1. PURPOSE: Measures all financial and economic transactions over a specified period of time. 4 BALANCEOFPAYMENT CATEGORIES 2. Doubleentry bookkeeping a. Currency inflows = credits earn foreign exchange b. Currency outflows = debits expend foreign exchange 5 BALANCEOFPAYMENT CATEGORIES 3. Three Major Accounts: a. Current b. Capital c. Official Reserves 4. Current Account records flow of goods, services, and unilateral transfers. 6 BALANCEOFPAYMENT CATEGORIES 5. Capital Account a. Function: records public and private investment and lending. b. Inflows = credits c. Outflows = debits 7 BALANCEOFPAYMENT CATEGORIES 5. Capital Account (con’t) d. Transactions classified as 1.) portfolio 2.) direct 3.) short term 8 BALANCEOFPAYMENT CATEGORIES 6. Official Reserves Account a. Function: 1.) measures changes in international reserves owned