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| Article Name : | | | A LITERATURE REVIEW ON BALANCE OF PAYMENT | | Author Name : | | | AMIT KUMAR | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | GRT-3310 | | Article URL : | |  | Author Profile View PDF In browser | | Abstract : | | | Balance of payment accounts are an accounting record of all monetary transactions between a country and the rest of the world. These transactions include payments for the country's export and imports of goods, services, financial capital, and financial transfers. The Balance of Payment accounts summarize international transactions for a specific period, usually a year, and are prepared in a single currency, typically the domestic currency for the country concerned. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as negative or deficit items. When all components of the Balance of Payment accounts are included they must sum to zero with no overall surplus or deficit. The objective of this article is to throw a light on the existing literature on Balance of Payment, so the reader can get the different aspect of balance of payment at one place. | | Keywords : | | |
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