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Table Of Contents

INTRODUCTION
NATURE OF BALANCE OF PAYMENTS
HISTORY OF BALANCE OF PAYMENTS
1820–1914: Free trade
1914–1945: Deglobalisation
1971–2009: Transition, Washington Consensus, Bretton Woods II
2009 and later: Post Washington Consensus
Competitive devaluation after 2009
COMPOSITION OF BALANCE OF PAYMENTS
Is Current Account Deficit a bad Thing?
However a current account deficit is not necessarily harmful
Factors which cause a current account Deficit in the balance of Payments
Fixed Exchange Rate
Economic Growth
Decline in Competitiveness
Higher inflation
Recession in other countries
Borrowing money
Deterioration in the current account
Capital account:
Balance of Payments Equilibrium
Types and Causes of disequilibrium in the balance of payments
Causes of disequilibrium in the balance of payments
Methods of correcting disequilibrium in the balance of payments
Following are the various monetary methods of BOP correction
Devaluation
The efficiency of devaluation, however depends on
MARSHALL-LERNER CONDITION
Depreciation
Deflation
Exchange Controls
Non - Monetary Methods
Rebalancing by changing the exchange rate:
Rebalancing by adjusting internal prices and demand:
Rules based rebalancing mechanisms:
INDIA ‘’balance of payments’’
Goods
Services
Transportation
Income
Current transfers
Financial Account
SOURCE: Reserve Bank of India Report
Invisibles Payments
Invisibles Balance
Imports
Inflows Outflows Local Withdrawals
2006-07 (R) 19914 15593 13208
2007-08 (PR) 29401 29222 18919
2008-09 (Q1) (PR)9063 8249 5157
2009-10 (Q1) (P) 11172 9354 5568
Variation in Reserves
April-March April-March
2008- 09 P2007-
RBI releases India bop status in 2010-2011
BOP Adjustment Policies
Deficits and Surpluses as a share of GDP
Are Defecits self correcting?
The US trade deficit and their recession
Expenditure Switching
Does a depreciation cut the trade defecit
Any evidence for UK
The J Curve
Expenditure Reduction
Supply – side Policies
Weakness on supply side and UK trade
The Investment gap
SUMMARY POINTS
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Disequilibrium in Balance of Payments

Disequilibrium in Balance of Payments

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Published by Bhavik Thaker

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Published by: Bhavik Thaker on Jun 03, 2011
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04/30/2013

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