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20 Cards in this Set
- Front
- Back
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Capital Account |
A record of transactions in highly specialized financial assets and liabilities between the residents of a nation and the rest of the world. |
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Current Account |
A record of transactions in goods, services, investment income, and unilateral transfers between the residents of a country and the rest of the world. |
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current account balance |
The broads t measure of nation's commerce with the rest of the world |
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Debt service |
Principal repayment and interest payment that are made in order to pay off a debt. |
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External debt |
Debt that is owed to agents outside a country's national boundaries. |
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Financial account |
The part of the balance of payments that tracks capita flows between national economy and the rest of the world |
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Foreign Direct Investemtn |
The purchase of physical assets by a foreign company or individual. It can be outward or inward. |
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Goods and services |
Goods and services are the component of international trade and the two main components of the current account. |
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Gross domestic product |
The market value of all final goods and services produced in a year inside a nation |
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Gross national product |
The market value of all final goods and services produced by the residents of a nation, regardless of where the production takes place. ---> GNP = GDP - income paid to foreigners + income received from abroad |
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International investment position |
The value of all foreign assets owned by a nation's residents, businesses, and government minus the value of all domestic assets owned by foreigners. |
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Investment income |
A subcomponent of the current account; income received for paid abroad. |
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National income and product accounts |
A set of accounts for a nation showing the components of GDP. These have both an income view and a product view. In theory, they are equivalent, as total income in an economy must equal the total value of output produced. |
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Odious debt |
Debt that is contracted by a country with an unrepresentative government and that is used in ways that do not benefit the people of the nation |
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Official reserve assets |
Assets held by governments for use in settling international debts. Official resource assets consist primarily of key foreign currencies. |
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Statistical discrepancy |
The sum of the current, capital, and financial accounts. |
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Sudden stop |
The sudden cessation of capital inflows that had been used to finance a current account deficit. |
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Technology transfer |
The spread of technological information and capacity from one country to another |
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Trade balance |
Net exports, that is, the difference between exports of goods and services and imports of goods and services. |
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Unilateral transfers |
A component of the current account that measures the grants from one country to another. |
