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Balance of Payments

In: FINANCIAL THEORY Perspectives from China

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  • Xingyun PENG

Abstract

Modern society is an open society. As a result of increasing economic globalization, economic exchanges between countries are becoming more frequent and on an ever increasing scale. When cut off from the world, no country can possibly achieve a sound development. The balance of payments reflects the position of a country in the global economic system. The balance of payments aggregates and its structural changes will have a major impact on a country's domestic economy. This chapter describes the basic concepts behind the balance of payments.

Suggested Citation

  • Xingyun PENG, 2015. "Balance of Payments," World Scientific Book Chapters, in: FINANCIAL THEORY Perspectives from China, chapter 18, pages 453-477, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781938134326_0018
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