either there is surplus or deficit in the value of total transaction. this
imbalance is known as
disequilibrium. most of the deficit (due to
high import and less export) is termed as BOP disequilibrium.
1) Growing population:
It is the unique feature of LDCs (less developed countries).
Due to ever increasing population,
demand for consumption
increases, to feed those need nation has to import more with no
exports. It results in BOP disequilibrium.
2) Natural calamities:
Natural disasters like flood,
earthquake, storms etc, destroy
agriculture and brings food crisis in the nation. In order to manage
with the domestic demand of goods and services, the nation has to
depend on imports. It adversely affects BOP position.
3) Increase in income:
With
rise in income of the people, their purchasing power
also increases for the foreign or imported goods. Also It increases
their domestic consumption so export surplus becomes less. So
increased income reduces surplus but
increases deficit causing
BOP deficit.
4) Repayment of debts and interest:
LDC‘s nations take loans or financial assistance from other
nations. They have to pay interest thereon regularly. It increases
payment side of BOP statement. Even the repayments
of old debt
taken from IMF or WORD BANK, IDA etc are paid by them. This all
affect BOP position of the nation.
5) Demonstration effect:
Due to globalization and open economy, today people have
started copying or imitating west. Demand for goods of MNC‘s is on
the height and imparted items have become common. This
imitation to foreign nations in consumption pattern reduces exports
and increases imports. It also brings BOP disequilibrium.
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