Measuring International Economics

Marking a century of the German balance of payments, this open access book covers the main historical, conceptual, analytical and institutional aspects of external statistics. It explores how the balance of payments has evolved as a multipurpose set of statistics for macroeconomic analysis and shows why it matters today for sound economic and monetary policy decisions in a globalised world. This book brings together academics, statisticians and practitioners from national, European and global institutions to look back on 100 years of the balance of payments in Germany in the context of European and global developments. Their contributions offer different perspectives on how results have been interpreted over a century, describe current challenges and look to the future. They formulate new insights into how to measure globalisation, international economic relations and interdependencies. Across four sections, this book covers the history and informational value of balance of payments statistics, their importance in international policymaking as well as selected aspects concerning the quality of statistics and measurement of globalisation. This book is essential reading not just for economists, policymakers, statisticians, researchers and advanced students of economics and official statistics, but also for anyone looking to understand the intricate economic ties between nations and the role that the balance of payments statistics play in supplying the information underpinning economic policy in todays interconnected global economy.