In: Business and Management

Submitted By danamsini
Words 2903
Pages 12
Daniel Bibonge Amsini
Econ 412
December 18th, 2014
The US and its Current Account Deficit
America's current account deficit has been fluctuating over the past 20 years.
From 1991 it rose to a record high of about 6% of GDP in 2006 and it began to fall a year later to finally reach a level of 3% of GDP in 20091. Capital inflows finance the current account deficit.
Economists are wondering if such large inflows are sustainable. According to economic theory, a current account deficit is not necessarily harmful as it stimulates a period of inward investment that can actually boost a country’s employment and investments. The current account deficit is still considered too large even at 3% and there is fear that it is caused by the recession. However economists believe that the US current account deficit may actually contribute to its development and attract foreign investors. The current account deficit is actually a good arsenal for the development of a country. For example, Japan invested a lot in the UK and this caused the emergence of new jobs in addition to the increased investment. The following paragraphs will enlighten more about how the current account of the US can affect its economy. 1

Feenstra, Robert C., and Alan M. Taylor. "National and International Account." International
Macroeconomics. New York: Worth, 2012. 172-77. Print.

A current account deficit (CAD) occurs when a country has an excess of one or more of the four factors (goods, services, income and unilateral transfers) making up the account. When a current transaction enters the account, it is recorded as a credit and when a value leaves the account, it is recorded as a debit. Therefore, a CAD occurs when a country is investing more abroad than saving at home or when more money is being paid out than brought into a country. What it actually tells us is that the nation…...

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