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The Capital Account and Regional Balance of Payments Problems

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  • Sheila C. Dow

    (Department of Economics, University of Stirling, Stirling, Scotland)

Abstract

Many regional issues can be expressed in terms of regional balance of payments accounts. This framework in turn highlights a feature of regional economics to which little attention is paid: inter-regional capital flows. It is the presumption that these flows accommodate demand which explains the apparent absence of regional balance of payments problems. In fact, if capital flows are not accommodating, then regional balance of payments problems may be more serious than for countries with separate currencies, since they require income adjustment. Having explained the balance of payments accounts in regional terms and the nature and significance of inter-regional capital flows, the paper concludes with a discussion of data requirements, with particular reference to the Scottish case.

Suggested Citation

  • Sheila C. Dow, 1986. "The Capital Account and Regional Balance of Payments Problems," Urban Studies, Urban Studies Journal Limited, vol. 23(3), pages 173-184, June.
    • Handle: RePEc:sae:urbstu:v:23:y:1986:i:3:p:173-184
    DOI: 10.1080/00420988620080211
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    References listed on IDEAS

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    1. Richard L. Pfister, 1960. "State and Regional Payments Mechanisms: Comment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(4), pages 641-648.
    2. James C. Ingram, 1959. "State and Regional Payments Mechanisms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 73(4), pages 619-632.
    3. Norman N. Bowsher & J. Dewey Daane & Robert Einzig, 1958. "The Flows Of Funds Between Regions Of The United States," Journal of Finance, American Finance Association, vol. 13(1), pages 1-20, March.
    4. Kaldor, Nicholas, 1970. "The Case for Regional Policies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 17(3), pages 337-348, November.
    5. Penelope Hartland, 1949. "Interregional Payments Compared with International Payments," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 63(3), pages 392-407.
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    1. Sébastien Mary & Euan Phimister & Deborah Roberts & Fabien Santini, 2013. "Testing the sensitivity of CGE results: A Monte Carlo Filtering approach to an application to rural development policies in Aberdeenshire," JRC Research Reports JRC85290, Joint Research Centre.
    2. Konstantinos Pouliakas & Deborah Roberts & Eudokia Balamou & Dimitris Psaltopoulos, 2014. "Modelling the Effects of Immigration on Regional Economic Performance and Wage Distribution: A Computable General Equilibrium (CGE) Analysis of Three European Union Regions," Regional Studies, Taylor & Francis Journals, vol. 48(2), pages 318-338, February.
    3. Edward C. Waters & David W. Holland & Bruce A. Weber, 1997. "Economic Impacts of a Property Tax Limitation: A Computable General Equilibrium Analysis of Oregon's Measure 5," Land Economics, University of Wisconsin Press, vol. 73(1), pages 72-89.
    4. J.S.L. McCombie, 1988. "A Synoptic View of Regional Growth and Unemployment: II —The Post-Keynesian Theory," Urban Studies, Urban Studies Journal Limited, vol. 25(5), pages 399-417, October.

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