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The paper examines the causality between the German current account and financial account. It contrasts with past research which assumes the current account and financial account to be jointly determined by a saving-investment imbalance. Our analysis decomposes the current account into exports and imports (real resource flows) and the financial account into domestic capital outflows and foreign capital inflows (gross capital flows). Evidence from the Toda-Yamamoto causality test shows that for Germany from Q1.1980 to Q2.2023, the causality runs from the financial account to the current account. It is not real resource flows but gross capital flows which exert significant impacts on the German real exchange rate. The finding implies that over the long run, strong German capital outflows and weak foreign capital inflows contributed to weak wage growth and stagnant investment in Germany, sustaining the persistent German current account surpluses. A reduction of the German current account surpluses requires a policy mix of fiscal expansion and monetary tightening which would expand the absorption of German and foreign capital in the German economy. [ABSTRACT FROM AUTHOR]

The paper explores the interconnections between foreign capital flows and the exchange rate regime switching in developing countries. We formulate the exchange rate regime switching as annual time series of binary/ordered variables employing de facto classification of exchange rate arrangements and regress them on the financial account capital flows for a panel of 28 developing countries which experienced change in their exchange rate regime during the period 2000-2016. Employing probit and logit regression, we discover the FDI, portfolio flows and changes in reserve assets to precede and/or coincide with switching. Specifically, accumulation of foreign reserves increases the probability of switching from floating to peg, while their spending coincides with exits from pegged regimes; at the same time, outflows of FDI and portfolio investments tend to accompany exchange rate regime liberalization, although the evidence on that is less consistent. [ABSTRACT FROM AUTHOR]

This study analyzes the factors that account for the difference in access to financial account between women and men. To do so, a probit model and Fairlie's ([2005]. An extension of the Blinder-Oaxaca decomposition technique to logit and probit models. Journal of Economic and Social Measurement, 30(4), 305–316. ) decomposition method were applied to survey data collected in 2021 in 25 sub-Saharan Africa countries. The results show that, on average, 43.73% of men have access to a financial account compared to only 32.7% of women. The analysis shows that the contribution of factors to the difference varies according to country's level of development. The difference is explained more by observable characteristics in high-income countries (79.6%) than in low-income countries (65%). Secondary school education is the most decisive factor but the contribution varies according to country development level. In terms of implications, financial inclusion policies for women need to be adapted according to country realities. Thus, in order for women to benefit from financial inclusion policies, it is important to encourage the education of women at least at secondary level by reducing or even abolishing school fees, and also creating a conducive environment to keep women in the education system for as long as possible. [ABSTRACT FROM AUTHOR]

To keep a company's financial data organized, accountant developed a system that sorts transactions into records called account. An account is an individual record of increase and decrease in a specific asset, liability, or owner's equity/stockholders' equity item. In its simplest form, an account consists of three parts (a) the title of the account, (b) a left side or debiting, and (c) a right side or crediting. The combine of those parts become a form that we called a Taccount. T-account need two element that consist of debit and credit that used by accountants when recording transactions in business company. Some transactions are a mixture of increase/decrease effect. The types of accounts that increased with a debit like dividends, expenses, assets, and losses. Then for increased with a credit like gains, income, revenues, liabilities, and stockholders (owner's) equity. So an asset account is increased with a debit and therefore it is decreased with a credit. The other one is the debit/credit system has internal consistency that attempts to describe the effects of a transaction in debit/credit for and it will be something wrong when debits do not equal credits. For now, financial report was computerized systems that challenge any attempt to unbalanced transaction that does not satisfy the condition of debits = credits. The debit/credit rules are built with logical structure. [ABSTRACT FROM AUTHOR]

Under the Findex dataset, paper suggests a comparative assessment of the usage of financial accounts by groups (developing countries, high-income countries, and Ukraine). Authors outlines the barriers, which arise while using financial services and both socio-economic (income level, employment), and demographic characteristics (gender, age) of users. The increase of account holders, who make payments using mobile phones and the Internet, was marked. Simultaneously, women and poorer users have less access to these technologies, both among the banked and unbanked population. In contrast to world indicators in Ukraine, the level of financial account ownership is the same for both women and men, but there is a gap between richer and poorer, and a gap across the active labour force. Having analysed the unbanked population’s causes and characteristics, Ukrainians’ distrust of financial institutions was a significant barrier to account ownership. An overview of the indicators of financial account usage to make public payments, receive wages in the private sector, settlements with business (utility payments, domestic remittances, payments from individual entrepreneurs) is under consideration. The intensification of digital payments in Ukraine is observed in comparison with the majority of developing countries. The holders use debit cards more often in developing countries as well as in high-income countries and Ukraine. It is highlighted that financial account ownership does not indicate the population’s addiction to use it to accumulate savings. In general, the level of financial inclusion from the demand side is growing globally, and faster in developing countries, including Ukraine, due to the outspread of mobile phones and the Internet. There is more active usage of financial services in high-income countries, despite inequality in age, gender, employment. Although Ukraine usage indicators correspond to the average, the level lags far behind the indicators of high-income countries. It has been revealed that people in high-income countries owning financial account are more likely to be economically active, to save and borrow from financial institutions than those living in developing countries, who prefer informal ways of saving and lending. A low level of penetration of deposits and loans among individuals was noted alongside activation of non-cash payments. It is substantiated that the high level of financial inclusion of the population depends not only on the possession of a financial account but also on its usage mechanisms. The ways of increasing the use of financial services are identified, such as mobile payments, digitalisation of private and public payments, and an increase in financial literacy.

The Western Balkans (WB) countries registered an increase in the current account (CA) deficit and net capital inflow in the period before the outbreak of the global financial crisis of 2008. The external debt of these countries has increased. The aim of this paper is to examine the causality relationship between the CA and financial accounts (FA) balance of Serbia. A framework for the empirical analysis is the vector autoregression (VAR) model and the vector error correction (VEC) model. Using the Johansen cointegration test, we find the existence of a long-run causality relationship between these two variables. The estimated long-run coefficient on the FA variable as an independent variable shows that an increase of Serbia's FA balance by 1% leads to an increase in the CA deficit of Serbia by 0.58%. Applying the Granger causality test, it was found that causality runs from FA to the CA, which implies recommendations for economic policymakers. The finding indicates the need to continuously check the sustainability of the CA deficit of Serbia, as well as to monitor the level of presence of foreign capital in the Serbian economy.

In today’s economies, where commerce and the economy are strongly interrelated, the relationship between current account and financial account has become crucial. However, economists have not reached a consensus regarding the direction of the causality relationship between capital and current accounts. Our study aims to contribute to the literature by determining the direction of the causality relationship between current and financial accounts in Turkey, applying the Johansen Cointegration Test and the Vector Error Correction (VEC) model to quarterly data for 2002-2018. The empirical results show that the causality relationship in Turkey runs from the financial account to the current account. This means that capital inflows to Turkey have the potential to deteriorate the current account balance. Therefore, it is of crucial importance that Turkey implement policies to manage the financial account in order to provide a current account balance.

The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2 balances, international rescue credit and government bond purchases of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted differently with the ECB’s monetary policy have been at roots of first diverging and then converging current account positions in the euro area. Since the European financial and debt crisis, public financing mechanisms and the unconventional monetary of the ECB have contributed to the persistence of intra-euro area current account imbalances. [ABSTRACT FROM AUTHOR]

This study is devoted to explore empirically China’s twin (double) surpluses of Balance of Payments (BoP) for the period 1998-2016. This phenomenon reflects the money China have left over from importing (buying) and exporting (selling) goods and services (as recorded in current account), and between outflow and inflow of financial assets (as recorded in financial account). This study answers the following questions: Are China’s twin surpluses sustainable? What are the macroeconomic variables determining China’s twin surpluses? and What are their possible transmission channels between current account surplus and financial account surplus? The time series econometric tests offer that China’s twin surpluses phenomenon is considerably sustainable. That is both surpluses will be approaching a zero balance in the long run. Secondly, domestic income, exchange rate, and world income are important macroeconomic variables in explaining the behaviour of China’s twin surpluses in the long run, except for domestic, and world interest rates. Lastly, no transmission channel has been found, while China’s current account surplus is caused by financial account surplus, and world interest rate, separately. This study has relevant policy implications, especially on the country’s external imbalances.

Bu çalışmada Türkiye’de cari işlemler hesabı ile finans hesabı ve cari işlemler hesabı ile finans hesabının bileşenleri arasındaki nedensellik ilişkisi 1998:Q1- 2018:Q2 dönemi için Toda-Yamamoto nedensellik analizi ile incelenmektedir. Ampirik bulgular, finans hesabından cari işlemler hesabına doğru tek yönlü bir nedensellik ilişkisi olduğunu ortaya koymaktadır. Finans hesabının bileşenleri ile cari işlemler hesabı arasındaki nedensellik ilişkisine bakıldığında ise bulgular farklılaşmakta; finans hesabını oluşturan sermaye akımlarından portföy yatırımları ile kısa vadeli sermaye akımlarından cari işlemler hesabına doğru tek yönlü bir nedensellik ilişkisi mevcutken, cari işlemler hesabından doğrudan yatırımlar ile diğer uzun vadeli sermaye akımlarına doğru ise tek yönlü bir nedensellik ilişkisi olduğu tespit edilmiştir.

The objective of this research is to get the descriptive in depth and effectiveness of performance appraisal system (based on financial account, operational account, and administrative account) that has been implemented by PT Perkebunan Nusaniara XII (Pcrsero) based on the Badan Usaha Milik Ncgara of Minister Decree, Number: KEP-100/MBU/2002. This research used qualitative research with single case study and multiple unit analysis approach. The study involved 6 respondents as unit managers and as assistant of unit manager. They are financial manager, plant manager, accounting manager, processing manager, strategic business unit manager, strategic business manager, and assistant of financial manager. This study concluded that the performance appraisal system that has been implemented by PT Perkebunan Nusantara XII (Persero) was not effective in practice. This was caused by the differences of PT Perkebunan Nusantara XII (Persero) core business whose long time plants and harvest for many years from cultivation. It is suggested that the productivity is the main resource to increase as well as to improve performance and the sustainability of PT Perkebunan Nusantara XII (Persero)

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The Tunisian economy during the last thirty years suffered from a chronic current account deficit. The present paper investigates the long and short-run dynamics between the surplus of the aggregated and disaggregated financial account and the persistent pattern of current account deficit in Tunisia over the period 1977–2009. Based on bounds testing cointegration approach using an autoregressive distributed lag (ARDL), we found evidence supportive of long-run cointegration relationships between the current account and the financial account for both aggregated and disaggregated levels. The results also highlight that there is evidence of unidirectional causality from portfolio investment to the current account over the long-run. These findings suggest that the current account should be used by the Tunisian government as a control variable for capital flows and could be considered as valuable information for the liberalization of the financial account in Tunisia. [ABSTRACT FROM AUTHOR]

Copyright of Journal of International Relations / Medzinarodne Vztahy is the property of University of Economics in Bratislava, Faculty of International Relations and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Pandectele Române is the property of Wolters Kluwer Romania and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article examines the international experience of building and using the combined (integrated) with the financial account of the account of operations with capital to conduct a detailed analysis of the direction of movement of financial flows, and the possibility of its practical application in the Russian statistical practice.

Copyright of Vistula Scientific Quarterly / Kwartalnik Naukowy Uczelni Vistula is the property of Vistula University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)