Платежный баланс

Export > Import
= positive balance of foreign trade balance
= negative balance of foreign trade balance
Export < Import

In the balance of payments

An increase in official reserves is indicated by the sign "-".
A decrease in official reserves is represented by a "+" sign

Macroeconomic dependence of balance of payments accounts

Y = C+I+G+ Xn
YCG = I+ Xn
S= I+ Xn
(S-I)+ Xn = 0
S-I = Xn
(S-I) Capital Movement Accounting Xn – Account of current operatations
Current operations and capital movement accounts of the balance of payments The loan amount is determined by the difference between the total amount and the investment at the level of the interest rate (r*).
I.S
R
Xn
S
I ( r )
r*


r
I.S
R
Xn
S
I ( r )
r
r*
positive balance
negative balance
S > I
The current account is positive
S < I
Current account deficit _

The impact of macroeconomic policy on changes in balance of payments accounts

I.S
R
S
I ( r )
r*
S 1
Xn - deficiency
I.S
R
I ( r )
r* 1

Xn is a positive remainder
r* 2

I.S
R
I ( r 1 )
r*

Xn is the current account deficit