The Meaning of Balance of Payments Statistics in an Interdependent World

November 1, 1994

Preview Citation

Format: Chicago

Jack Bame. The Meaning of Balance of Payments Statistics in an Interdependent World, (USA: International Monetary Fund, 1994) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The relevance of the standard measures of international transactions in goods and services as reflected in the fifth edition of the IMF Balance of Payments Manual (BPM) and in the 1993 System of National Accounts (SNA) has been questioned in several recent studies and articles. Alternative measures have been proposed, that either (i) substitute an ownership basis for transactions for the long-established residency basis; (ii) maintain the residency basis but combine net direct, investment income with goods and services; or question the validity of any measures in the form of net balances as a guide to policy. This paper affirms the central role of residency in the international accounts, discusses the supplementary value of alternative proposals, and notes the importance of international efforts to improve and refine the measurement of external transactions based on the principles of the BPM and SNA.

Subject: Balance of payments, Balance of payments statistics, Economic and financial statistics, Foreign direct investment, International trade, National accounts, Trade balance, Trade in goods

Keywords: Balance of payments statistics, Earnings, Enterprise, Establishment data, Establishment trade, Foreign direct investment, Foreign direct investment, Global, Goods, Resident enterprise, Trade balance, Trade data, Trade in goods, WP

Publication Details

Pages:

14
Volume:

---
DOI:

---
Issue:

---
Series:

Working Paper No. 1994/131
Stock No:

WPIEA1311994
ISBN:

9781451933260
ISSN:

1018-5941

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Working Papers