名词解释

名词解释

BOP：the scorecard is the balance of payments the set of accounts recording all flows of value between a nation's residents and the residents of the rest of the world during a certain period.

Credit item(赁方positive，inflow）：is an item for which the country must be paid.-such as the exports of goods.investment income.labor reward.)

Debit item（借方negative，Outflow）：is an item for which the country must pay.(imports,investment income,)Double-entry bookkeeping:（复式记账法）

Trade balance:(The goods and services balance equals to the net exports of both goods and services.)

Current Account（经常账目）:( The net value of flows of goods,services,income,and unrequited transfers )

Financial Account（金融账户）：（the net value of flows of financial assets and similar claims (excluding officials international deserve asset flows)(including the direct investment：包括建立企业，购买外国大于10%的股份，以及投资利润再投资，Portfolio investment：股票和红利，Other investment：两国之间的贸易信贷，货币，存款，债券，债务）

Official international reserves(国际官方储备）：the money-like asset that are held and controlled by governments.which including: the reserve position in Fund(普通提款权），Monetary gold(黄金储备），special drawing rights (特别提款权-a reserve asset created by the IMF ） International liquidity（国际清偿力）,foreign exchange (外汇储备）

Statistic Discrepancy (the net result of errors and omissions on both the the credit and debit sides)

图表分析

Foreign exchange rate (it refer to holding of foreign currencies, the act of trading different nations' money)

Exchange rate (the price of one nation's money in terms of another nation's money)

The spot exchange rate (the price for \"immediate\" exchange - which means the exchange or delivery action is happened in two working days after the exchange is agreed )

The forward exchange rate (the price set now for an exchange that will take place sometime in the future)

Foreign exchange market (it is a 24-hour invisible market which are consists of the exchange dealers of the banks and the exchange brokers.)

Floating Exchange Rate system ( this is a simple system without intervention by the government or central bankers,in which the spot price of foreign currency is market driven by the interaction of private demand and supply for the currency)

Fixed Exchange Rate system (the system in which the officials strive to keep the exchange rate virtually fixed and the spot price of foreign currency might be intervened by the government)

图表分析

speculating(the act of taking a net asset position or a net liability position in a foreign currency)

Hedging (the act of balancing your assets and liabilities in a foreign currency to become immune to the risk resulting from future changes the value of foreign currency .which involves acquiring an asset in foreign currency to offset a net liability position already held in foreign currency,or acquiring a liability in a foreign currency to offer a net asset position already held)

The law of one price (it posits that a product that is easily and freely traded in a perfectly competitive global market should have the same price everywhere.)

Absolute purchasing power parity (it posits that a basket or bundle of tradable products will have the same cost in different countries if the cost is stated in the same

currency)

Relative purchasing power parity (it posits that the difference between changes over time in product-price levels in two countries will be offset by the change in the exchange rate over this time )

请简述香港的货币局