International Journal of Frontiers in Sociology, 2021, 3(19); doi: 10.25236/IJFS.2021.031920.
Ying Liu, Shixin Fan
School of Statistics, Dongbei University of Finance and Economics, Dalian 116025, Liaoning, China
The existing balance of payments statistical definitions and indicators may not be conducive to the sustainable development of the country, especially for countries that export mainly depletable resource products or primary products. The comparative disadvantages in terms of technology and system of resource utilization lead some developing countries' condition of balance of payments to be detrimental to their national sustainable development. Thus, the article suggests to reformulate the balance of payments statistics: categorizing balance of payments trade and services from the perspective of sustainable development; reforming commonly used balance of payments statistics indicators such as export exchange costs. The adjusted balance of payments statistics should be able to provide correct information for international economic transactions and lead governments to make decisions that are conducive to their sustainable development based on such correct information.
Sustainable development, Balance of payments, Depletable resources
Ying Liu, Shixin Fan. A Study on Redefining Balance of Payments from a Sustainable Development Perspective. International Journal of Frontiers in Sociology (2021), Vol. 3, Issue 19: 103-106. https://doi.org/10.25236/IJFS.2021.031920.
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