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Balance of Payments (Some Causes of a Current Account Deficit (Lack of…
Balance of Payments
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Financial Account
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IMPORTANT: the FINANCIAL ACCOUNT includes transactions that result in a change of ownership of financial assets and liabilities between UK residents and non-residents
Current Account Sections
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• (3) Net income (interest, profits, dividends and migrant remittances)
• (4) Net current transfers( i.e. contributions to EU, military aid, overseas aid)
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Capital Account
• Sale/transfer of patents, copyrights, franchises, leases and other transferable contracts (example would be international buying and selling of land by businesses)
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Export multiplier, e.g. China
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