國際財務(wù)管理課件上下12章

1、浙江工商大學 金融學院課程講義國 際 經(jīng) 濟 學（下）金融學院 方霞二 0 0 四 下中文參考文獻本書中譯本，2003，中國人民大學出版社林德特，國際經(jīng)濟學，1992，經(jīng)濟科學出版社Dominick，國際經(jīng)濟學，1998，清華大學出版社克魯格曼等，戰(zhàn)略性貿(mào)易政策與新國際經(jīng)濟學，2000，中國人民大學出版社姜波克，開放經(jīng)濟下的宏觀經(jīng)濟管理：2000，復旦大學出版社 陶湘，國際金融與管理，1996，中國人民大學出版社楊帆，人民幣匯率研究，首都經(jīng)濟貿(mào)易大學出版社，2000王繼祖，國際金融市場，1994，南開大學出版社徐滇慶等，泡沫經(jīng)濟與金融危機，中國人民大學出版社，2000于宗先等，從危機走向復蘇，

2、2001雜志：經(jīng)濟研究，經(jīng)濟研究，管理世界，世界經(jīng)濟，金融研究，國際金融研究國際貿(mào)易問題，國際貿(mào)易，世界經(jīng)濟研究，世界經(jīng)濟文匯等。主要網(wǎng)址： . . . . . . 國際經(jīng)濟學教學基本要求至少讀兩本書和一份專業(yè)期刊 參考閱讀書目寫兩篇文章一篇理論性文章一篇讀書筆記參加課堂討論 聯(lián)系： CHAPTER 12 National e Accounting and the Balance of PaymentNational e AccountsNational e Accounting for an Open EconomyThe balance of payment accountingNatio

3、nal e AccountsGNP: (P295)the value of all final goods and services produced by its factors of production and sold on market in a given time period. GNP=C+I+G+EX-IMNational product and National e GNP: expenditure NI: eNI=GNP-Capital Depreciation +International Transfers-Indirect Business TaxesGDP and

4、 GNPNational e Accounting for an Open EconomyClosed Economy:Y=C+I+GOpen Economy: Y = C+I+G+EX-IMCurrent Account: the difference between exports of goods and services and imports of goods and services. CA= EX-IM The current account and foreign indebtedness CA=Y-(C+I+G)Figure 12-2, P303Saving and the

5、Current AccountNational saving and the current accountS = I+CAPrivate government saving and the current accountSp = I+CA+ Sg = I+CA+(G-T) Case: P3061992-2000年中國國內(nèi)儲蓄率與總投資率的差異SIS-I199238.437.31.1199341.543.5-2.0199442.741.31.4199542.540.81.7199641.439.32.1199741.8383.8199841.337.43.9199939.837.12.7200

6、038.736.22.5The balance of payment accountingBalance of Payments Accounting: P320The balance of payment bookkeeping principle and its application 1、Double-entry bookkeeping 2、Transactions that involve the export of goods or services: Credit on current account 3、Transactions that involve the purchase

7、 of financial assets: a debit in the financial account 4、Transfers that involve capital outflow: a debit in capital account Example P309 1)Imagine you buy a typewriter from the Italian company Olivertti and pay for your purchase with a $1000 check.2)During your travels in France you pay $200 for a f

8、ine dinner at the Restaurant de 1Escargot dOr.Lacking cash,you place the charge on your Visa credit card.3)Imagine your Uncle Sid from Los Angeles buys a share of stock in the United Kingdom oil giant British Petroleum.He pay $95 with a check drawn on his Go-for-Broke money market account.BP deposit

9、s the $95 in its own U.S. bank account at Second Bank of Chicago. 4)U.S. banks forgive $5000 in debt owed to them by the government of the imaginary country of Bygonia.H:國際經(jīng)濟學（下）國際收支平衡表（中國2001）.docInternational transactions and the balance of payment accountsThe current account (transactions) 1.Expo

10、rt 2.Import 3.current TransferThe capital account (transactions) Transfers of wealth between countriesThe financial account (transactions)Statistical discrepancy(Error and Omissions Account)The balance of payment and its analysisThe fundamental balance of payment identityCurrent Account +Financial A

11、ccount+Capital Account=0 1992-2001 年中國國際收支主要賬戶 的差額經(jīng)常賬戶資本和金融賬戶凈誤差與遺漏儲備資產(chǎn)變動19926401-251-825221021993-1190423474-9803-17671994765832644-9775-305271995161838675-17830-224631996724239967-15547-3166219973696321015-22254-35724199831471-6321-18724-64261999156677642-14804-85052000205191922-11893-105492001174

12、0534775-4856-47325Official reserve assets:are foreign assets held by central banks as a cushion against national economic misfortune.1、Gold2、Foreign currencies3、Reserve position in the International Monetary Fund4、SDRs（Special drawing rights)1990 年以來IMF儲備頭寸的分配狀況 單位：億特別提款權(quán)所有國家發(fā)達國家發(fā)展中國家1990237.5199.83

13、7.71991258.9227.731.21992339295.143.91993328283.144.91994317.2274.143.11995366.7316.450.31996380.1326.1541997470.8413.457.41998606.3539.267.11999547.9467.880.12000473.839776.8Official foreign exchange intervention:central banks often buy or sell international reserves in private asset market to affect macroeconomic conditions in their economies.Trade BalanceCurrent Account BalanceBasic BalanceThe official settlement balanceOverall BalanceRelative TopicsDeficit and Surplus why? Effect? How?Relative TheoriesPrice-specie-flow mechanismThe elasticities approachThe absorption approachMultiplie