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Balance of payments - need a bit of help

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  • #1

    Balance of payments - need a bit of help

    At first glance it can be summarized in one table and a few formulas, there's not much about it, but I need to write 20+ pages in the first chapter for my final bachelor paper.

    I have enough material to cover the structure part, I need to find some historical facts, concepts and views about it. Stuff like when it was first standardized (presumably with the creation of the IMF ?), modern and classical views/concepts...
    Already found some info on wiki and other sites, still searching.
    Last edited by Admiral; 20 October 2007, 11:37.
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  • #2
    Start with the invention of the zero; I think this was in India.
    There's an Opera in my macbook.

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    • #3
      Trying to be cynical or just confusing it with the balance sheet ?
      In theory it can be 0, in practice you either have a deficit or a surplus.

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      • #4
        Originally posted by Admiral View Post
        Trying to be cynical or just confusing it with the balance sheet ?
        In theory it can be 0, in practice you either have a deficit or a surplus.
        I think what az was suggesting was to start with a small primer on the history of mathematics and the significance of the 0
        If there's artificial intelligence, there's bound to be some artificial stupidity.

        Jeremy Clarkson "806 brake horsepower..and that on that limp wrist faerie liquid the Americans call petrol, if you run it on the more explosive jungle juice we have in Europe you'd be getting 850 brake horsepower..."

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        • #5
          With him, I never know what the suggestion or intent is.

          I think the history here pretty much starts with the gold standard as a means of tackling deficits, among other things, so the history spans a couple centuries at most. Was curious when countries began to keep a record that resembles the current form, when it was standardized internationally. How it evolved after in terms of content (it's not like services were always included). What are the views of economists on trade deficits and surpluses...

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          • #6
            The concept of negativity is also a relatively new invention. It's really not that uninteresting.
            There's an Opera in my macbook.

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            • #7
              OK, might as well try it, I'm changing the first part from 'Brief history' to 'Concept(s) and interpretations' for the moment. By the time it's finished it will stray away from the initial plan anyway, so better get the supervisor used to it.

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              • #8
                What is it you need to do with Balance of Payments? There is a lot you can do with it.
                - Relationship between BOP and unemployment
                - Relationship BOP <-> Echange Rates
                - Effects of appreciation/depreciation of exchange rate on BOP, both short term as long term (for instance, depreciation fo the home currency is often believed to improve the BOP but the key issue here is whether the elasticity of demand for home products is larger than that of the (home) demand for foreign products: it may worsen the BOP!)
                - BOP <-> Interest Rates <-> Echange Rates <-> Unemployemnt/GDP

                The accounting conventions [I]have[I] changed BTW, but that has to do with some qualifications on the Capital Account IIRC.
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                • #9
                  What you just describe there I plan to include in the second chapter, for the first I need some introductory part and structure. The structure I have covered, it's this brief history/concepts part I'm trying to find material for. Something along the lines of this and this (wiki links).
                  Now, I can include the comments about trade deficits and surpluses here or just leave them for the second chapter, I still need to find something to start the first subchapter with.

                  edit: ok, here's my revised (short) plan

                  Chapter I - Concept and structure

                  1. Concept, historical references and interpretations
                  (under interpretations I was planning to include some comments about trade deficits and surpluses)

                  2. Structure - with the current account and capital/financial account, official reserves
                  Last edited by Admiral; 22 October 2007, 06:50.

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                  • #10
                    Wait, you need 20+ pages for the first chapter??
                    Join MURCs Distributed Computing effort for Rosetta@Home and help fight Alzheimers, Cancer, Mad Cow disease and rising oil prices.
                    [...]the pervading principle and abiding test of good breeding is the requirement of a substantial and patent waste of time. - Veblen

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                    • #11
                      Umm, yes, 20 at least.
                      Was guessing I can write at least 5 or 6 for the first subchapter.

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