GATE (Graduate Aptitude Test in Engineering) Economics (XH-C1) International Economics-Balance of Payments Study Material (Page 3 of 6)

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Composition: Components of Current Account

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  • The balance of payment account forms a very important part of the national income accounts for any open Economy. They record all the transactions which take place between the residents of the country concerned and those of the other countries where residents can be all the individuals, businesses and the government and their agencies and international organisations are classified as foreign resident for this purpose.
  • The balance of payment account also serves another purpose that is the balance of a country՚s foreign transa…

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Composition: Components of Capital Account, Autonomous and Accommodating Transactions

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Components of Capital Account

  • The capital account will record all international transactions which will be involving a resident of the country concerned changing either his assets with or his liabilities to a resident of another country.
  • The basic distinctions in the capital transactions are between private and official transactions, between portfolio investment and direct investment, and by the term of the investment (i.e.. whether short or long term) .
  • Foreign Direct investment is the act in which the asset is purchased and at the same time acquiring contro…

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