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Drug Trade and Statistical Discrepancies in the U.S. Balance of Payments

Author

Listed:
  • Mehdi Hojjat, Ph.D

    (Professor of Finance and International Business, Division of Business & Information Management, Neumann University,)

Abstract

This paper tests the hypothesis that residual values in balance of payment accounting are a random variable. Previous research in this area has been satisfied with an explanation that these residual values are just statistical discrepancies and are random in nature. This paper reveals a structural problem with the way balance of payment accounting has been set up and data are collected. The research proves that there is a positive bias about these values. Moreover, the research shows that there is a positive relationship between the size of the illicit drug market and the statistical discrepancies in the U.S. balance of payments.

Suggested Citation

  • Mehdi Hojjat, Ph.D, 2014. "Drug Trade and Statistical Discrepancies in the U.S. Balance of Payments," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 4(8), pages 17-24, August.
    • Handle: RePEc:mir:mirbus:v:4:y:2014:i:8:p:17-24
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