Rules Of Thumb For Balance Of Payments Accounting
Abstract
Balance of payments accounting can be confusing for students, because it is sometimes difficult to determine whether a certain transaction (e.g., a currency exchange) is a debit or a credit to a certain account. It is therefore the purpose of this paper to summarize the standard balance of payments concepts according to useful rules of thumb, which are intended to help students more easily determine how a given international transaction affects each balance of payment account.
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