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· 2021年04月19日

为什么current account 和 capital account 会此消彼长?麻烦解释一下

NO.PZ2016010802000219

问题如下:

A country with a persistent trade surplus is being pressured to let its currency appreciate. Which of the following best describes the adjustment that must occur if currency appreciation is to be effective in reducing the trade surplus?

选项:

A.

Domestic investment must decline relative to saving.

B.

Foreigners must increase investment relative to saving.

C.

Global capital flows must shift toward the domestic market.

解释:

C is correct.

The trade surplus cannot decline unless the capital account deficit also declines. Regardless of the mix of assets bought and sold, foreigners must buy more assets from (or sell fewer assets to) domestic issuers/investors.

考点:The Trade Balance

解析:经常性账户和资本账户是此消彼长的两个账户。

经常账户与资本平衡。经常性账户盈余的消失那么资本账户赤字也必须消失,这就代表外资流入。C选项正确。

依据公式(X-M)=(S-I)+(T-G)。

投资I减小,等式右边变大,左边也会相应变大,经常性账户盈余还会增加,A选项错误。

外国人要增加对于经常性账户赤字出口国的投资才行。外国人只投资自己国家不解决问题,所以B选项错误。

为什么current account 和 capital account 会此消彼长?麻烦解释一下

1 个答案

丹丹_品职答疑助手 · 2021年04月20日

嗨,爱思考的PZer你好:


同学你好,这个是我们balance of payment 理论。一级经济学我们关于这个理论设计三个账户:current account/capital account及financial account,由于第三个很小,我们往往忽略不计。

我们认为支付均衡的情况下,衡量货物流出的current account和衡量资金流出的capital account是此消彼长的关系。同学可以理解为,假如商品出口较多,即current acoount 盈余,那么资金流出的就少(流水多)即capital account就得是赤字

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