The Balance of Payments

  • Bo Södersten
  • Geoffrey Reed


The balance-of-payments accounts are an integral part of the national income accounts for an open economy. They record (in principle) all transactions between ‘residents’ of the country concerned and those of other countries, where ‘residents’ are broadly interpreted as all individuals, businesses, and governments and their agencies; international organisations are also classified as ‘foreign’ residents for this purpose.


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Copyright information

© Bo Södersten and Geoffey Reed 1994

Authors and Affiliations

  • Bo Södersten
    • 1
  • Geoffrey Reed
    • 2
  1. 1.LundSweden
  2. 2.NottinghamUK

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