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Trade, Money and International Payments

In: International Money and the Real World

Author

Listed:
  • Paul Davidson

    (University of Tennessee)

Abstract

The items in the balance of payments are interconnected via the system of double-entry book-keeping so that, for example, a positive overall balance on the current account must be offset by a negative balance on the capital account. It is essential for clear analysis to deal with imbalances in one subset of accounts at a time. Traditionally, economists have delved primarily into what happens when an adverse balance of trade develops,1 that is when a nation generates a tendency towards a persistent import surplus. The immediate problem for a nation in this condition is how to finance the imbalance in its international payments. This, then, is the problem we shall analyze in some detail.2

Suggested Citation

  • Paul Davidson, 1992. "Trade, Money and International Payments," Palgrave Macmillan Books, in: International Money and the Real World, edition 0, chapter 5, pages 85-104, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37809-4_5
    DOI: 10.1057/9780230378094_5
    as

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