Home  Journals  Finance and Credit  38(374) - 2009 October

The methodology of macroeconomic analysis based on the correlation between the system of national accounting and the balance of payments with monetary and financial accounts

Available online: 11 November 2009

Subject Heading: Monetary and credit policy

JEL Classification: 

In connection with the crises in the world economy and reduction of oil&gas prices, the problem of maintenance of the macroeconomic stability at reached level and decreasing a threat of slowing-down of economic growth have recently gained greater urgency. In the present work a correlation between the balance of payments and international investment position, which creates financial stability of the country in the world economy, is examined by using the system of national accounting, at the same time the methodology of macroeconomic analysis of external sector of Russian economy with monetary and financial national accounts are presented based on this correlation. It is concluded that the circumstances of financial crisis the information about a structure and profitability of internal and external cash flows, a degree of dependence the Russian monetary and financial system from external financial flows as well as sources of state budget financing could be developed based on the convergence between national and external accounts.

Keywords: balance of payments, international investment position, system of national accounting, monetary and financial statistics

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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