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Cataloged Resource Summary

 

Title

Balance of Payments

Author

Herbert Stein

Category

International Economics

Type

Article

Description

The balance of payments accounts of a country record the payments and receipts of the residents of the country in their transactions with residents of other countries. This article examines this and debunks the general misconception that the existence of a current account deficit is a sign of bad economic conditions.

URL

http://www.econlib.org/library/Enc/BalanceofPayments.html
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