LA BALANZA DE PAGOS: Instrumento de análisis y política económica

This document is a guide book for the study and understanding of the balance of payments, a tool of economic analysis and policy of the external sector of every economy. Consequently, it is a first necessity to familiarize oneself with the basic concepts, methodology, theories, and the accounting of the balance of payments; for then using properly this analytical tool. Which firstly is an accounting-statistical statement of all foreign economic transactions of a country with the rest of the world in a given period; but that also is a valuable tool for the diagnosis of the external position of an economy and the formulation of sound economic policies, in order to gain more advantages from its economic relationships with other world’s nations. That is, the benefits derived from the access to larger markets, flow of funds and new technologies; allowing the country to benefit itself from advantages derived from specialization, differentiation and economies of scale of economic processes.