hrcak mascot   Srce   HID

Izvorni znanstveni članak

National savings and the international investment position: what does the current account tell us?

Wim Boonstra ; Rabobank, Utrecht, The Netherlands

Puni tekst: engleski, pdf (160 KB) str. 9-40 preuzimanja: 1.341* citiraj
APA 6th Edition
Boonstra, W. (2008). National savings and the international investment position: what does the current account tell us?. Zbornik radova Ekonomskog fakulteta u Rijeci, 26 (1), 9-40. Preuzeto s https://hrcak.srce.hr/24471
MLA 8th Edition
Boonstra, Wim. "National savings and the international investment position: what does the current account tell us?." Zbornik radova Ekonomskog fakulteta u Rijeci, vol. 26, br. 1, 2008, str. 9-40. https://hrcak.srce.hr/24471. Citirano 12.12.2019.
Chicago 17th Edition
Boonstra, Wim. "National savings and the international investment position: what does the current account tell us?." Zbornik radova Ekonomskog fakulteta u Rijeci 26, br. 1 (2008): 9-40. https://hrcak.srce.hr/24471
Harvard
Boonstra, W. (2008). 'National savings and the international investment position: what does the current account tell us?', Zbornik radova Ekonomskog fakulteta u Rijeci, 26(1), str. 9-40. Preuzeto s: https://hrcak.srce.hr/24471 (Datum pristupa: 12.12.2019.)
Vancouver
Boonstra W. National savings and the international investment position: what does the current account tell us?. Zbornik radova Ekonomskog fakulteta u Rijeci [Internet]. 2008 [pristupljeno 12.12.2019.];26(1):9-40. Dostupno na: https://hrcak.srce.hr/24471
IEEE
W. Boonstra, "National savings and the international investment position: what does the current account tell us?", Zbornik radova Ekonomskog fakulteta u Rijeci, vol.26, br. 1, str. 9-40, 2008. [Online]. Dostupno na: https://hrcak.srce.hr/24471. [Citirano: 12.12.2019.]

Sažetak
This article discusses the relation between the balance of payments and the international investment position of countries. It starts with the observation that the net international investment position of many countries is developing independently from their current account balances. This phenomenon can be explained by value
changes of cross border assets and liabilities that are not registered on the balance of payments. These value changes have impact on the net external investment position of a country as soon as the returns on its external assets and liabilities start to diverge. Such divergent developments can be attributed to currency developments,
differences of composition of external assets and liabilities and performance effects. These mechanisms are discussed, followed by two case studies, viz. the case of the ‘black hole’ (the Netherlands) and the case of ‘dark matter’(the US). Understanding the relation between the international investment position of a country and its balance of payments becomes more and more relevant as countries prepare for ageing of the population. Some countries explicitly aim at the creation of a national savings surplus in order to create a net international asset position. The consequences of the failure of such a policy are discussed in a concluding paragraph.

Ključne riječi
Balance of payments; current account; international investment position; ageing

Hrčak ID: 24471

URI
https://hrcak.srce.hr/24471

[hrvatski]

Posjeta: 1.889 *