The balance of payments accounting as a factor for the macroeconomic equilibrium achievement in an open economy
The balance of payments accounting as a factor for the macroeconomic equilibrium achievement in an open economy

Summary/Abstract: Purpose – To study the concept of the balance of payments (BOP) as the main internationalfinancial statement of a nation, to identify the causes and effects of its imbalances and the factorsof achieving external equilibrium for a national economy, as well.Methods – The theoretical and methodological research is based on systematic, structuraland functional analysis, logical abstraction, induction, deduction, as well as comparative andstatistical analysis.Approach – The theoretical justification of the relationship between key figures of thebalance of payments and the main macroeconomic identities, the research of the balanceof payments regulation tools aimed at achieving its steady state as a precondition for openeconomy equilibrium.Findings – The rationale for choosing the balance of payments regulation policy based onusing some theories aimed at searching for an optimal balance or so-called equilibrium betweenthe development of external and internal factors of the economy. Thus, the study has shownthat the practical implementation of these theoretical concepts finds its application in variousways of equalizing the balance of payments. The constituent elements of these concepts are theforms of equalization, the level of regulation, the methods and tools of state regulation.

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