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Economic and Financial Flows (Balance of payments (The current account,…
Economic and Financial Flows
International finance institutions
The International Monetary Fund (IMF)
Conceived by the UN
Created July 1944
Mandate increased 2012
includes
Macroeconomics
Financial sector issues
Protect global stability
2016 Annual Report
Structural reforms
Growth friendly fiscal policy
Growth friendly monetary policy
The World Bank
Created in 1944
Based in Washington DC
Has 189 Members
Countries
Shareholders
Board of Governors
Two Goals by 2030
End extreme poverty
Promote shared prosperity
Balance of payments
The current account
The capital account
The financial account
Global imbalances
Large and persistent imbalances
Applies to all account types
Can be deficits or surpluses
Foreign Direct Investments (FDIs)
Investments made by companies
Establish infrastructure in other countries
Sell products and sevices around the world
Portfolio investments
Financial assets are bought and sold
Transfer pricing
Arm's length pricing
The open market price
Unitary taxation
Apportioned profits to regions
Blockers
Path dependency
Vested interests
Technical issues
Country-by-country reporting