ESTP Course Balance of Payments – Introductory course Paris, 22-23 May 2014 Economic Analysis of BOP.

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Presentation transcript:

ESTP Course Balance of Payments – Introductory course Paris, 22-23 May 2014 Economic Analysis of BOP

L16 - Economic analysis of BOP/IIP statistics

Summary of 2013 Balances on Current Account (WEO – april 2014) USD bill. % GDP US –379.3 - 2.3 ZE 366.0 +2.9 EU 328.9 +1.9 Emerging and developing countries (by source of export earnings) 210.0 Fuel : 445 Non fuel : -235 +0.7 These data are extracted from the WEO statistical annex.

Use of BOP data in economic analysis Openness degree : credits + debits/GDP (vulnerability in case of decrease of external demand) Measure of competitiveness : goods and services/GDP Gap between savings and investment rates : current account balance/GDP Financial account : degree of financial integration FDI : degree of insertion of domestic companies in the international environment

Euro area IIP (% of GDP)

BOP versus monetary statistics Ecb : monetary approach of bop Monetary presentation

BOP data use in economic analysis : the WEO example

MIPC : detection of macroeconomic imbalances

Concluding remarks : new challenges for BOP compilers … Link micro and macro data, Balance internal consistency, « cross-datasets » domestic consistency and cross-country consistency, Balance frequency, coverage, timeliness « Link without tightening » BoP/IIP data and other sets of external statistics