Global economy (economics)(ge) and World Economic Relations (WER)

Содержание

Слайд 2

CONTENT: 1. General definitions and terms of GE. 2. Theories of

CONTENT:

1. General definitions and terms of GE.
2. Theories of the world

trade (WT).
3. WT regulation. Free trading and protectionism. INCOTERMS 2010.
4. Economic integration.
5. Currency. International monetary system.
6. Transnational companies.
7. Balance of payments.
8. Offshores.
Слайд 3

Part 1. General definitions and terms of GE.

Part 1. General definitions and terms of GE.

Слайд 4

The difference between similar terms: economic/economical Economic pertains to the economy.

The difference between similar terms:
economic/economical
Economic pertains to the economy. Economical means not wasteful.
economy/economics
The economy is

the relationship between production, trade and the supply of money in a particular country or region (The economy is in recession).
Economics is a science that studies economies and develops possible models for their functioning (He studied economics at the LSE (London School of Economics).
Слайд 5

The world economy or global economy is the economy of the

The world economy or global economy is the economy of the world, considered as the international exchange

of goods and services that is expressed in monetary units of account (money). 
In some contexts, the two terms are distinguished: the "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements.
Слайд 6

A subject matter of GE is WER. WER: trade of goods

A subject matter of GE is WER.
WER:
trade of goods and services;
capital

flow;
labour migration;
intellectual property trade;
currency relations;
credit relations (World Bank, International Monetary Fund );
co-operation of production (multinational companies/transnational corporations).
Слайд 7

BACKGROUND AND FORMATION PERIOD OF GE: 1. Definition of GE and

BACKGROUND AND FORMATION PERIOD OF GE:

1. Definition of GE and global

market.
2. International division of labour (IDL)
and factors of production.
3. Groups of countries in GE.
Слайд 8

IDL - the allocation of various parts of the production process

IDL - the allocation of various parts of the production process

to different places in the world.
2 main processes of IDL:
specialization
co-operation
Слайд 9

GENERAL MEANING OF THE TERM «GE»: a system of world economic

GENERAL MEANING OF THE TERM «GE»:
a system of world

economic relations, national economies` cooperation;
A combination of different economic sectors and branches of national economies;
national economies` unity and world economic relations that help to make a complete and stable system.
Слайд 10

Stages of GE’s formation: Age of Discovery Before the 1st World

Stages of GE’s formation:
Age of Discovery
Before the 1st World War
Between 2

World Wars
From the 2nd World War to the 80th
Nowadays
Слайд 11

Слайд 12

GE – a system of Goods, Services and Capital exchange between

GE – a system of Goods, Services and Capital exchange between

Buyers (Customers) and Sellers. Attributes/ peculiarities/ characteristics of GE:
Entirety/ unity
Hierarchy |ˈhʌɪərɑːki|
Self-adjustment/ self-regulation
Adaptation
Слайд 13

World Trade theories: Mercantilism Absolute advantages Comparative advantages Heckscher-Ohlin theorem Technological

World Trade theories:
Mercantilism
Absolute advantages
Comparative advantages
Heckscher-Ohlin theorem
Technological gap by Posner and Product

Life-Cycle Model by Vernon
Слайд 14

Part 2. Theories of WT.

Part 2. Theories of WT.

Слайд 15

Adam Smith VS David Ricardo: 2 countries and 2 items of

Adam Smith VS David Ricardo:
2 countries and 2 items of goods

(labour costs):
Alternative costs for the cloth in England are lower than in Portugal: 0,83 instead of 1,125 per a unit of wine.
The same situation is with wine for Portugal to export: 0,89 instead of 1,2 per a unit of cloth.
Слайд 16

Basics of Heckscher Ohlin theory: 2 countries 2 items of goods

Basics of Heckscher Ohlin theory:

2 countries
2 items of goods –

cloth and food
2 resources – Labour and Land (to produce the items) (you can also take Capital instead, but you should change an item of goods – cars for example)
2 production possibility curves (combination of 2 goods` max production with full usage of production factors in a country)
2 indifference curves (geometrical combination of 2 goods with equal utility)
There are also some assumptions☺
Слайд 17

The H-O theory says that countries will export products that use

The H-O theory says that countries will export products that use

their abundant and cheap factor and import products that use countries` scarce factor.
Слайд 18

Слайд 19

Product Life-Cycle Model by Vernon

Product Life-Cycle Model by Vernon

Слайд 20

Part 3. WT regulation. Free trading and protectionism. INCOTERMS 2010.

Part 3. WT regulation. Free trading and protectionism. INCOTERMS 2010.

Слайд 21

2 ways to control world trade by a state : free-trade

2 ways to control world trade by a state : free-trade

& protectionist practices. World trade (for tradable goods):

PROS

It`s profitable (beneficial).
Usually customers get quality goods for a lower price.

CONS

Domestic goods can`t meet competition, with low demand and production level.
As a result people don`t get a salary (are not paid) and their ability to pay goes down (reduces)

Слайд 22

FREETRADING PROS Market saturation with cheap & quality goods Growing of

FREETRADING

PROS

Market saturation with cheap & quality goods
Growing of foreign tax

payments (fiscal charges)
New workplaces

CONS

Guess what)
Addiction to (dependence on) imported goods
Bull market or it simply raises prices….

Слайд 23

What`s the difference between tradable and non-tradable goods: С.Л. Еремина Мировая

What`s the difference between tradable and non-tradable goods:

С.Л. Еремина Мировая экономика

A

price for TG is defined by a ratio between demand & supply;
A balance of D&S for NTG is more important for there`s no opportunity to substitute them with foreign goods;
Local (domestic) prices for TG and their change (rise & fall) usually depends on foreign one.
Слайд 24

To trade or not to trade?

To trade or not to trade?

Слайд 25

Tariff and Non-tariff Regulations (the Customs Code of the Customs Union

Tariff and Non-tariff Regulations (the Customs Code of the Customs Union –

the RF)

Duty rate (custom tariff)
Customs duties
Customs Commodity Code (FEACN - Foreign Economic Activity Commodity Nomenclature)

Licensing
Quota allocation (setting quotas) (+voluntary export restrictions)
Certification
Safeguards (special safeguard measures:
special custom duty
antidumping duty
countervailing (compensatory) duty

Слайд 26

Eurasian Economic Union is an economic union of states located primarily

Eurasian Economic Union

is an economic union of states located primarily in northern Eurasia.
The Treaty

aiming for the establishment of the EAEU was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015. 
Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014, respectively.
Слайд 27

Duty VS Fee (Charge) Import VS Export ad valorem duties fixed

Duty VS Fee (Charge) Import VS Export

ad valorem duties
fixed (specific) duties
combined

(mixed) duties

customs processing fee
charge for clearance
terminal handling charges

Слайд 28

Russia VS other countries General rate of duties Most favoured nation treatment Preferential duties

Russia VS other countries

General rate of duties
Most favoured nation treatment
Preferential duties

Слайд 29

Let`s count all our customs payments: Customs value (cost) Customs duty

Let`s count all our customs payments:

Customs value (cost)
Customs duty
Excise tax
VAT
Customs fee

(charge)
Слайд 30

How much is the fish? No, Spanish fizzy wine

How much is the fish? No, Spanish fizzy wine

Слайд 31

How сan customs value be estimated (calculated, defined, assessed)? The methods

How сan customs value be estimated (calculated, defined, assessed)?

The methods of

customs valuation, in descending order of precedence, are:
Transaction Value (TV)* of Imported Merchandise
Transaction Value of Identical Merchandise (goods, commodities) – 90 days
Transaction Value of Similar Merchandise – 90 days
Deductive Value
Computed Value
Derivative Method
* TV is the price actually paid or payable for the goods when sold for export to the country of importation
Слайд 32

Deductive Value: Domestic price (Customs Union) – Agent commission (broker`s fee,

Deductive Value:

Domestic price (Customs Union) –
Agent commission (broker`s fee,

profit %)
Transporting (transfer, move, haul, shipping) costs + cargo-handling costs + insurance costs
Customs payments (duties, taxes, fees)
Слайд 33

Computed Value: Goods estimated (calculated) value = Operating (production) cost (expenditure)

Computed Value:
Goods estimated (calculated) value
=
Operating (production) cost (expenditure) –

all we need to produce smth – materials, energy, labour, depreciation etc.
+
2. Move & insurance costs
+
3. Packaging costs
+
3. Selling and administration costs
+
4. Agent commission
Слайд 34

Defined terms in Incoterms: (International Commercial Terms) - define obligations, costs,

Defined terms in Incoterms:  (International Commercial Terms) - define obligations, costs, and risks

involved in the delivery of goods from the seller to the buyer  - don’t define price payable, currency or credit items

Delivery: The point in the transaction where the risk of loss or damage to the goods is transferred from the seller to the buyer
Arrival: The point named in the Incoterm to which carriage has been paid
Free: Seller has an obligation to deliver the goods to a named place for transfer to a carrier
Carrier: Any person who, in a contract of carriage, undertakes to perform or to procure the performance of transport by rail, road, air, sea, inland waterway or by a combination of such modes
Freight forwarder: A firm that makes or assists in the making of shipping arrangements;
Terminal: Any place, whether covered or not, such as a dock, warehouse, container yard or road, rail or air cargo terminal
To clear for export: To file Shipper’s Export Declaration and get export permit

Слайд 35

FROM «E» TO «D»: EXW – Ex Works (named place of

FROM «E» TO «D»:

EXW – Ex Works (named place of delivery)

maximum obligation on the buyer and minimum obligations on the seller
DDP – Delivered Duty Paid (named place of destination) maximum obligations on the seller and minimum obligations on the buyer
Слайд 36

The Economic Integration between two countries is a measure of how

The Economic Integration between two countries is a measure of how

much two or more countries work together, or give preference to each other. 
Micro-aproach: MNC (TNC)
Macro-aproach: interstate organizations and integration associations
Слайд 37

Part 4. Economic integration.

Part 4. Economic integration.

Слайд 38

Economic integration: is the unification of economic policies between different states;

Economic integration:

is the unification of economic policies between different states;
the partial

or full abolition of tariff and non-tariff restrictions;
 lower prices for distributors and consumers with the goal of increasing the level of welfare
Economic integration is an economic arrangement between different regions, marked by the reduction or elimination of trade barriers and the coordination of monetary and fiscal policies. The aim of economic integration is to reduce costs for both consumers and producers, and to increase trade between the countries taking part in the agreement.
The more integrated the economies become, the fewer trade barriers exist, and the more economic and political coordination there is between the member countries.
Слайд 39

What is the basis of economic integration? Comparative advantage refers to

What is the basis of economic integration?

Comparative advantage refers to the ability

of a person or a country to produce a particular good or service at a lower marginal and opportunity (alternative) cost over another. 
Economies of scale refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. Economies of scale is a long run concept and refers to reductions in unit cost as the size of a facility and the usage levels of other inputs increase.
Слайд 40

Degrees of economic integration: Preferential trading area Free trade area (North

Degrees of economic integration:

Preferential trading area
Free trade area (North American Free

Trade Agreement)
Customs union
Common market can be united into one degree
Economic union
Economic and monetary union
Complete economic integration
These differ in the degree of unification of economic policies, with the highest one being the completed economic integration of the states, which would most likely involve political integration as well.
Слайд 41

Additional info about degrees: A "free trade area" (FTA) is formed

Additional info about degrees:

A "free trade area" (FTA) is formed when

at least two states partially or fully abolish custom tariffs on their inner border. To exclude regional exploitation of zero tariffs within the FTA there is a rule of certificate of origin for the goods originating from the territory of a member state of an FTA.
A "customs union" introduces unified tariffs on the exterior borders of the union (CET, common external tariffs).
A "monetary union" introduces a shared currency.
A "common market" add to a FTA the free movement of services, capital and labor.
An "economic union" combines customs union with a common market. A "fiscal union" introduces a shared fiscal and budgetary policy. In order to be successful the more advanced integration steps are typically accompanied by unification of economic policies (tax, social welfare benefits, etc.), reductions in the rest of the trade barriers, introduction of supranational bodies, and gradual moves towards the final stage, a "political union".
Слайд 42

Pros and Cons of Economic Integration: Trade benefits: a reduction in

Pros and Cons of Economic Integration:

Trade benefits:
a reduction in the

trade cost;
an improved availability and wider selection of goods and services;
a greater purchasing power
Employment, technology and capital:
a market expansion;
sharing of technology;
cross-border flows of investment
Political cooperation:
stronger economic ties;
a peaceful conflicts` resolve.

Trade diversion 
Erosion of national sovereignty*
An obligation to adhere to rules on trade, monetary policy and fiscal policy
* Sovereignty, in fact, was one of the key debates in the United Kingdom's decision to leave the European Union (EU) in 2016.

Слайд 43

Measuring Economic Integration The methodology for measuring economic integration typically involves

Measuring Economic Integration

The methodology for measuring economic integration typically involves the

combination of multiple economic indicators, including:
1. trade in goods and services,
2. cross-border capital flows,
3. labor migration and others.
It also includes measures of institutional conformity, such as membership in trade unions and the strength of institutions that protect consumer and investor rights. A standardized ranking of European Union countries shows that Finland, Austria, Spain and France are the most integrated into the EU.
Слайд 44

Part 5. Currency. International monetary system.

Part 5. Currency. International monetary system.

Слайд 45

Currency refers to a particular authorized monetary system, monetized in specific

Currency refers to a particular authorized monetary system, monetized in specific

units (euros, dollars, pesos, etc.) which may be given international value by their exchange values in foreign exchange.
Слайд 46

Each currency typically has a main currency unit (the dollar, for

Each currency typically has a main currency unit (the dollar, for example,

or the euro) and a fractional unit, often defined as  1⁄100 of the main unit: 100 cents = 1 dollar, 100 centimes = 1 franc, 100 pence = 1 pound, although units of  1⁄10 or  1⁄1000 occasionally also occur. Some currencies do not have any smaller units at all, such as the Icelandic króna.
Слайд 47

Convertibility of a currency determines the ability of an individual, corporate

Convertibility of a currency determines the ability of an individual, corporate

or government to convert its local currency to another currency or vice versa with or without central bank/government intervention. Based on the above restrictions or free and readily conversion features, currencies are classified as:

Fully convertible When there are no restrictions or limitations on the amount of currency that can be traded on the international market, and the government does not artificially impose a fixed value or minimum value on the currency in international trade. The US dollar is an example of a fully convertible currency and, for this reason, US dollars are one of the major currencies traded in the foreign exchange market.

Слайд 48

Partially convertible Central banks control international investments flowing in and out

Partially convertible Central banks control international investments flowing in and out of

the country, while most domestic trade transactions are handled without any special requirements, there are significant restrictions on international investing and special approval is often required in order to convert into other currencies. The Indian rupee and Renminbi are examples of a partially convertible currency.
Nonconvertible Neither participate in the international FOREX market nor allow conversion of these currencies by individuals or companies. As a result, these currencies are known as blocked currencies. e.g.: North Korean won and the Cuban peso.
Слайд 49

In the foreign exchange market, a currency pair is the quotation

In the foreign exchange market, a currency pair is
the quotation

of the relative value of a currency unit
against the unit of another currency. 
1. direct quotation or price quotation
for example, USD 1.00 = EUR 0.851 in the Eurozone 
2. indirect quotation or quantity quotation 
for example, EUR 1.00 = USD 1.17 in the Eurozone
Слайд 50

Example: Russian ruble is the national currency. Direct quotation is 57,03

Example:

Russian ruble is the national currency.
Direct quotation is 57,03 USD/RUB which

means you can buy1$ for 57 rubles.
Indirect quotation is 0,017 RUB/USD and this means you can pay 1 ruble and get 0,017 $ for it)
Слайд 51

Lets find the cross-rate for the Russian ruble: The C-R is

Lets find the cross-rate for the Russian ruble:
The C-R is

an exchange rate between two currencies, in which the home country's currency is not included. In the U.S.A., the euro/yen rate would be considered a cross rate, while in Europe or Japan it would be considered a primary pair.
For the Russian Federation:
1 EUR = 68.98 RUB
1 USD = 59.28 RUB
So the C-R for EUR/USD is 1,1636.
Слайд 52

An exchange-rate regime (ERR) is the way an authority manages its

An exchange-rate regime (ERR)

 is the way an authority manages its currency in relation to

other currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors.
There are 3 basic types of ERR:
a floating exchange rate, where the economy dictates movements in the exchange rate;
a pegged float, where a central bank keeps the rate from deviating too far from a target band or value;
a fixed exchange rate, which ties the currency to another currency, mostly reserve currencies such as the U.S. dollar or the euro or a basket of currencies.
Слайд 53

Floating rates are the most common exchange rate regime today. For

Floating rates are the most common exchange rate regime today. For

example, the dollar, euro, yen, and British pound all are floating currencies.
However, since central banks frequently intervene to avoid excessive appreciation or depreciation, these regimes are often called managed float or a dirty float.
Managed float regime is the current international financial environment in which exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies. It is also known as a dirty float.
Слайд 54

Pegged floating currencies are pegged to some band or value, either

Pegged floating currencies are pegged to some band or value, either

fixed or periodically adjusted. During the 1950s and most of the 1960s, for example, the United States pegged the dollar to gold ($35.00 was equal to one ounce of gold), and most other countries had pegged their currencies to the dollar (the German Mark was fixed at four marks equal to one dollar for much of this time). 
The band of fluctuation is the range within which the market value of a national currency is permitted to fluctuate by international agreements, or by unilateral decision by the central bank.
Слайд 55

Fixed rates are those that have direct convertibility towards another currency.

Fixed rates are those that have direct convertibility towards another currency.


In case of a separate currency, also known as a currency board arrangement, the domestic currency is backed one to one by foreign reserves. A pegged currency with very small bands (< 1%) and countries that have adopted another country's currency and abandoned its own also fall under this.
Слайд 56

Слайд 57

Слайд 58

International monetary systems (IMS) International monetary systems are sets of internationally

International monetary systems (IMS)

International monetary systems are sets of internationally agreed rules

and supporting institutions, that facilitate international trade, cross border investment* and generally the reallocation of capital between nations. 
* is an investment in the form of a controlling ownership in a business in one country by an entity based in another country.
Слайд 59

What do IMS provide? Confidence Sufficient liquidity for fluctuating levels of

What do IMS provide?

Confidence
Sufficient liquidity for fluctuating levels of trade
Means by

which global imbalances can be corrected
Слайд 60

International monetary systems over two centuries

International monetary systems over two centuries

Слайд 61

Competing ideas for the next international monetary system

Competing ideas for the next international monetary system

Слайд 62

By the way, what`s about the Russian ruble? As for the

By the way, what`s about the Russian ruble?

As for the ruble,

in spite of high oil prices it`s under pressure:
Low demand for federal (loan) bonds
High demand for the foreign currency both by Russian corporations and the RF` Ministry of Finance.
All the rent income is spent on buying currency in order to increase the foreign exchange reserves.
3. Geopolitics
Слайд 63

Part 6. Transnational corporations.

Part 6. Transnational corporations.

Слайд 64

Transnational Corporations

Transnational Corporations

Слайд 65

The United Nations has justly described TNC as “the productive core

The United Nations has justly described TNC as “the productive core

of the globalizing world economy.”

Their 270,000 foreign affiliates account for most of the world's industrial capacity, technological knowledge, international financial transactions, and ultimately the power of control. 
  1. In terms of energy, they mine, refine and distribute most of the world’s oil, gasoline, diesel and jet fuel, as well as build most of the world’s oil, coal, gas, hydroelectric and nuclear power plants.
2. They extract most of the world’s minerals from the ground.  
3. They manufacture and sell most of the world’s automobiles, airplanes, communications satellites, computers, home electronics, chemicals, medicines and biotechnology products.  
4. They harvest much of the world’s wood and make most of its paper.  
5. They grow many of the world’s major agricultural crops, while processing and distributing much of its food.    

Слайд 66

Sustainable Development Goals (SDGs) and TNCs The globalization of economic activity

Sustainable Development Goals (SDGs) and TNCs
The globalization of economic activity in

general, and the growing role of transnational corporations (TNCs) in particular, have increasingly directed attention toward the environmental consequences of these developments. That is to say given their dominance of politics, economics and technology, it is not surprising to find the big transnationals deeply involved in most of the world’s serious environmental crises
Emerging-market multinational enterprises (EMNEs) play an increasingly important role as investors in developing economies. When certain conditions are met, their foreign investment can contribute to host-country progress towards the Sustainable Development Goals (SDGs).
Слайд 67

The Sustainable Development Goals (SDGs). Goal 1: No Poverty Goal 2:

The Sustainable Development Goals (SDGs).
Goal 1: No Poverty
Goal 2: Zero Hunger
Goal

3: Good Health and Well-Being
Goal 4: Quality Education
Goal 5: Gender Equality
Goal 6: Clean Water and Sanitation
Goal 7: Affordable and Clean Energy
Goal 8: Decent Work and Economic Growth
Goal 9: Industry, Innovation and Infrastructure
Goal 10: Reduced Inequalities
Goal 11: Sustainable Cities and Communities
Goal 12: Responsible Consumption and Production
Goal 13: Climate change
Goal 14: Life Below Water
Goal 15: Life on Land
Goal 16: Peace, Justice and Strong Institutions
Goal 17: Partnerships for the Goals
Слайд 68

What are the functions of TNC? Importing and exporting goods and

What are the functions of TNC?

Importing and exporting goods and services
Making

significant investments in a foreign country
Buying and selling licenses in foreign markets
Engaging in contract manufacturing—permitting a local manufacturer in a foreign country to produce their products
Opening manufacturing facilities or assembly operations in foreign countries
Слайд 69

The 5 Cons of Multinational Corporations. 1. The Market Dominance of

The 5 Cons of Multinational Corporations.

1. The Market Dominance of Multinational

Corporations - The market dominance of multinational corporations makes it hard for the local small firms to succeed and thrive. For instance, there are arguments stating that the larger supermarkets squeeze out a notable margin of the local corner stores that lead to lesser diversity.
2. Consumer’s Expenses - Companies are usually interested at the consumer’s expense. The multinational companies commonly have the power of monopoly that gives them the chance of making excess profit.
3. Pushing Local Firms Out Of Business - In the developing economies, these giant multinationals use the economies of scale for pushing the local firms out of their businesses.
4. Criticized For Using "Slave Labor" - Multinational corporations are being criticized for using the so-called slave labor wherein the workers are paid with very small wages.
5. Environment Threat - For the sake of profit, these global companies commonly contribute to pollution as well as make use of the non-renewable resources that can be a threat to the environment.
Слайд 70

WHAT DO YOU THINK ABOUT THE STATEMENT BELOW: Transnational Corporations are

WHAT DO YOU THINK ABOUT THE STATEMENT BELOW: Transnational Corporations are one

of the primary agents of Global Capitalism and many have been criticized because of the social and environmental harms they cause in the pursuit of profit. 
Слайд 71

Part 7. Balance of payments.

Part 7. Balance of payments.

Слайд 72

Слайд 73

What is «a balance of payments»? It`s a doc which summarizes

What is «a balance of payments»?

It`s a doc which summarizes an

economy’s transactions with the rest of the world for a specified time period.
The balance of payments, also known as balance of international payments, encompasses (covers) all transactions between a country’s residents and its nonresidents involving goods, services and income; financial claims on and liabilities to the rest of the world; and transfers such as gifts.
Слайд 74

Resident VS Non-residents resident is person living at a location or

Resident VS Non-residents

resident is person living at a location or in

an area while nonresident is one who is not a resident; an alien; a foreigner.
Is that a well worth definition?!
To say the truth, NO.
Слайд 75

СТРУКТУРА ПБ 1. Счёт текущих операций A. Торговый баланс B. Баланс

СТРУКТУРА ПБ

1. Счёт текущих операций
A. Торговый баланс
B. Баланс услуг
C. Текущие трансферты и

доходы, в том числе, от инвестиций
2. Счёт операций с капиталом и финансовыми инструментами
A. Счёт операций с капиталом (капитальные трансферты)
B. Финансовый счёт:
Прямые инвестиции
Портфельные инвестиции
Ссуды и займы
3. Чистые пропуски и ошибки
4. Изменение официальных резервов (резервных активов)
Слайд 76

ОТТОК/ ПРИТОК Положительное сальдо счёта движения капитала определяется как чистый приток

ОТТОК/ ПРИТОК

Положительное сальдо счёта движения капитала определяется как чистый приток капитала

в страну.
Наоборот, чистый отток (или вывоз капитала) возникает на фоне дефицита счёта движения капитала, когда расходы на покупки активов за границей превосходят доходы от их продажи за рубеж.
Слайд 77

Слайд 78

Economic policies are often targeted at specific objectives that, in turn,

Economic policies are often targeted at specific objectives that, in turn,

impact the balance of payments.

For example, a country may adopt policies specifically designed to attract foreign investment in a particular sector.
Another nation may attempt to keep its currency at an artificially depressed level to stimulate exports and build up its currency reserves.
The impact of these policies is ultimately captured in the balance of payments data.

Слайд 79

A little bit of macroeconomics… Ex-Im=Xn=Y-(C+I+G) BP=Xn+CF=∆R Y=C+I+G+Xn……let`s subtract (C+G) from

A little bit of macroeconomics…

Ex-Im=Xn=Y-(C+I+G)
BP=Xn+CF=∆R
Y=C+I+G+Xn……let`s subtract (C+G) from both parts of

formula
We`ll get Y-C-G=C+I+G+Xn-(C+G) and
«Y-C-G» we know as S (savings), so we have
S=I+Xn or Xn=S-I
Слайд 80

МВФ рекомендует оценивать и экспорт и импорт единообразно — по цене

МВФ рекомендует оценивать и экспорт и импорт единообразно — по цене на границе

экспортирующей экономики.

Таким образом, для оценки и экспорта, и импорта следует использовать цены FOB.
Часто на практике данные об импортных поставках известны в ценах CIF (Cost, Insurance and Freight) и вводится соответствующая поправка. Эта поправка для таких стран, как США, Германия, Франция составляет от 5 до 7 % объёма импорта в ценах FOB.

Слайд 81

Слайд 82

Does the B.O.P actually balance? In theory, a current account deficit

Does the B.O.P actually balance?

In theory, a current account deficit would have to

be financed by a net inflow in the capital and financial account.
While a current account surplus should correspond to an outflow in the capital and financial account for a net figure of zero.
In actual practice, however, the fact is:
data compiled from multiple sources give(s) rise to some degree of measurement error.
Слайд 83

Дефицит счёта текущих операций платёжного баланса может быть профинансирован: путём продажи

Дефицит счёта текущих операций платёжного баланса может быть профинансирован:

путём продажи части

активов иностранцам, то есть за счёт вложения иностранного капитала в экономику данной страны в форме прямых или портфельных инвестиций;
с помощью зарубежных займов у иностранных банков, правительств или международных организаций;
за счёт сокращения официальных валютных резервов, хранящихся в Центральном банке.
Слайд 84

Part 8. Offshores.

Part 8. Offshores.

Слайд 85

An offshore financial center (OFC) It is a small, low-tax jurisdiction

An offshore financial center (OFC)

It is a small, low-tax jurisdiction specializing in providing corporate and

commercial services to non-resident offshore companies, and for the investment of offshore funds*.
 Although information is still limited, there is strong evidence that OFCs captured a significant amount of global financial flows and functions both as back doors and partners of leading financial center.
* An offshore fund is a term which generally refers to a collective investment scheme domiciled in an offshore jurisdiction. Like the term "offshore company", the term is more descriptive than definitive, and both the words 'offshore' and 'fund' may be construed differently.
Слайд 86

Proponents VS Opponents Proponents suggest that reputable offshore financial centers play

Proponents VS Opponents
Proponents suggest that reputable offshore financial centers play a

legitimate and integral role in international finance and trade, and that their zero-tax structure allows financial planning and risk management and makes possible some of the cross-border vehicles necessary for global trade.
Opponents view OFCs as draining tax revenues away from developed countries by allowing tax arbitrage, and rendering capital flows into and out of developing countries opaque.
Слайд 87

Confidentiality: I`ve never heard before….. Statutory banking secrecy is a feature

Confidentiality: I`ve never heard before…..

Statutory banking secrecy is a feature

of several financial centers, notably Switzerland and Singapore. 
However, many offshore financial centers have no such statutory right. Jurisdictions including Aruba, the Bahamas, Bermuda, the British Virgin Islands, the Cayman Islands, Jersey, Guernsey, the Isle of Man and the Netherlands Antilles have signed tax information exchange agreements, which commits them to sharing financial information about foreign residents suspected of evading home-country tax.
Слайд 88

Сколько денег хранится в офшорах, кто их там прячет и почему?

Сколько денег хранится в офшорах, кто их там прячет и почему?

Получить ответы на эти вопросы чрезвычайно

важно, так как это поможет в изучении неравенства, экономического развития и политики, отмечают исследователи Национального бюро экономических исследований (НБЭИ).
«Поправка на офшорные капиталы» позволяет оценить, какой на самом деле разрыв между богатыми и бедными в каждой стране.
Но считать деньги состоятельных людей становится сложнее. С одной стороны, увеличивается число стран, согласившихся на автоматический обмен финансовой информацией. Сейчас в таком списке уже 115 стран (они опубликованы на сайте Организации экономического сотрудничества и развития). В их числе популярные офшорные юрисдикции, такие как Панама и Каймановы острова.
С другой стороны, офшоры, предлагающие широкий спектр финансовых услуг, к примеру, легально сократить налоговые выплаты и облегчить ведение бизнеса, также помогают скрыть капиталы от посторонних глаз. И часть клиентов офшоров — пусть и небольшая — использует офшорные юрисдикции для сокрытия нечестно полученных доходов, пишут эксперты НБЭИ.
Слайд 89

Слайд 90

Головная боль … офшоры В абсолютных значениях объемы средств в офшорах

Головная боль … офшоры

В абсолютных значениях объемы средств в офшорах растут: с 6

трлн долларов в 2005 году до 10 трлн долларов в 2016 году, Это данные Boston Consulting Group, полученные в ходе интервью со специалистами по управлению частными активами. По консервативным оценкам, в офшорах спрятано 10−13% мирового ВВП, считают в Boston Consulting Group.
А некоммерческая организация Tax Justice Network подсчитала не только финансовые активы, но и различные ценности, записанные на офшоры: яхты, предметы искусства, недвижимость. По данным Tax Justice Network, только в 2010 году в офшорах хранилось 21−32 трлн долларов.
Слайд 91

Слайд 92

Слайд 93

Слайд 94

- Предыдущая
Вычислительные навыки на уроках математики
Следующая -
Вода - самое загадочное вещество в мире

Похожие презентации

Утечка умов
Субсидии и ВТО
Производственная программа и производственная мощность предприятия
Кредитні операції банків
Приоритетные инвестиционные проекты
Экономическая сфера. Производство, производительность труда. Разделение труда и специализация
Научные основы рациональной организации общественного производства на территории
Якість продукції
Статистика труда. Численность персонала предприятия. Фонды рабочего времени. Эффективность использования рабочего времени
Шесть Сигм
Основные понятия ОРЭМ для реализации решений в виде информационных систем оптимизации режимов работы ТЭС и систем поддержки
Атом электр станциялары, екіншілік энергетикалық ресурстан және жылулық
Великие географические открытия и их последствия
Культурные факторы регионализации
Денежный рынок
Трудовые ресурсы, их воспроизводство, показатели (экономика труда, лекция 3)
Розвиток Європейської валютної системи
Проект програми економічного і соціального розвитку Донецької області
Предмет и методы экономической географии и регионалистики
Природные ресурсы и их классификация
Державне регулювання діяльності підприємств
Экономический рост и развитие
Политика занятости. Теория «инсайдеров – аутсайдеров». Эффект гистерезиса
Глобалізація в економіці
Курс «Экономика». Лекция 2. Базовые экономические понятия
Санкции. Дорога в никуда
Задачи по экономике
ЕГЭ по обществознанию. Решение заданий А10. Экономика. Задание на обращение к социальным реалиям и графической информации
Вы можете прислать нам Вашу презентацию и мы опубликуем ее на сайте.
Обратная связь
Для правообладателей
Email: Нажмите что бы посмотреть