Balance of Payments
- Social Sciences -
Economics & Business Dictionary
Definition
A macroeconomic concept defining an aggregate measure, policy tool, or national accounting construct. It specifies how economy-wide activity, prices, employment, or external balances are measured or influenced by policy instruments. It does not identify specific firm-level causes and must be interpreted alongside measurement limits and data revisions.
Balance of Payments
Social Sciences Dictionary
Definition
A double‑entry accounting record of all economic transactions between residents of a reporting economy and non‑residents during a period, organized into accounts (commonly the current account, capital and financial account, and statistical discrepancy) such that, under the accounting identity, debits and credits sum to zero once valuation and timing are consistently applied.