The present research deals with the effect capital flows have on Russia's macroeconomic indicators. Numerous nations have recently completed the so-called liberalization of the capital and financial account, i.e. have lifted restrictions on capital flows. That is why looking into the impact...

The traditional current account can be an inaccurate measure of the change in the net foreign asset (NFA) position. Using gross asset and liability positions at the country level, a number of 'valuation effects' have been identified which contribute to changes in NFA but do not enter the...

In this article, we explain and illustrate the current account, the capital account and the financial account of the balance of payments. We illustrate the J-curve effect in relation to the Marshall-Lerner condition. The balance of payments shows the international financial position of the...

The opening up of an economy to the rest of the world has generally been considered an integral part of economic reform aimed at increasing the role of markets. Until recently, however, very little discussion was devoted to the order in which the capital and current account should be liberalized...

The opening up of an economy to the rest of the world has generally been considered an integral part of economic reform aimed at increasing the role of markets. Until recently, however, very little discussion was devoted to the order in which the capital and current account should be liberalized...

The traditional current account can be an inaccurate measure of the change in the net foreign asset (NFA) position. Using gross asset and liability positions at the country level, a number of 'valuation effects' have been identified which contribute to changes in NFA but do not enter the...

Dynamics of Balance of Payment developments are still barely researched. Chapter 1 tries to summarize empirical evidence between institutional determinants and BoP movements and proposes a framework for the role of institutions in a debt cycle. It is found that “good” institutions do help a...