Balance of payments
(Intermediate course) |
Course Leader | Veronique Genre |
Target Group | Staff members in the field of National Accounts (NA) and Balance of Payment (BoP) departments in National Statistical Offices and National Banks. |
Entry Qualifications | |
Objective(s) | The seminar is intended for statisticians or economists dealing with the elaboration or the use of balance of payments or other external statistics, who wish to enhance the analysis of economic globalisation. It aims at providing an in-depth introduction to the elaboration and use of Balance of Payment statistics on: trade in goods, services, financial flows, and IIP statistics |
Contents | The course will aim at providing participants with advanced knowledge and classifications regarding: Goods and services account Primary income account Secondary income account Capital account Putting all accounts together – complete balance of payments, errors and omissions International investment position and financial account Compiling aggregates for currency unions and economic union Main data sources and data compilation issues Data quality issues: quality report, consistency with the national accounts, bilateral asymmetries with partner statistics (intra-EU, external) Economic analysis of BoP statistics: trade in value added, measurement of Global value chain; CO2 content in trade, effect of pandemics
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Expected Outcome | Participants will acquire an intermediate knowledge of the overall framework and main items in the elaboration of BoP data, articulation with national accounts, and main usages of BoP and IIP data for economic analysis |
Training Methods | Formal presentation, practical exercises, roundtable, workshops |
Required Reading | None |
Suggested Reading | - International Monetary Fund, Balance of Payments and International Investment Position Manual, 6th edition (BPM6) ;
- International Monetary Fund, BPM6 Compilation Guide ;
- European Central Bank, European Union Balance of Payments and International Investment Position statistical sources and methods, 2016. Euro area balance of payments press releases (https://www.ecb.europa.eu/press/pr/stats/bop/html/index.en.html);
- Eurostat, “Services Trade Statistics by Modes of Supply”(https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Services_trade_statistics_by_modes_of_supply);
- Eurostat, “Impact of Covid-19 on international trade in goods statistics” (https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Impact_of_COVID-19_on_international_trade_in_goods_statistics);
- Eurostat, Globalisation Patterns in EU Trade and Investment, 2017 (https://ec.europa.eu/eurostat/documents/3217494/8533590/KS-06-17-380-EN-N.pdf/8b3e000a-6d53-4089-aea3-4e33bdc0055c) ;
Eurostat, “Transatlantic trade in services: Investigating bilateral asymmetries in EU-US trade statistics”, 2017 (https://ec.europa.eu/eurostat/documents/7870049/8544118/KS-GQ-17-016-EN-N.pdf/eaf15b03-5dcf-48dd-976f-7b4169f08a9e). Bê Duc, L. (2008), Mayerleen F. and Sola P., “The Monetary presentation of the balance of payments”. Occasional paper of the ECB n° 37 Picon Aguilar, C., Oliveira Soares R. and Adalid M. (2020), “Revisiting the monetary presentation of the balance of payments”. Occasional paper of the ECB n° 238
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Required Preparation | None |
Trainer(s)/ Lecturer(s) | Ms Veronique Genre (independent expert) Mr Antoine Lalliard (independent expert) Ms Barbara Castelletti Font (independent expert) Ms Camille Lafond Makris (independent expert) Mr Fabrice Bidaud (independent expert) Mr Olivier Chatal (independent expert) |