Economic and Social Survey of Asia and the Far East 1948

image of Economic and Social Survey of Asia and the Far East 1948

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.



Balance of payments

A satisfactory survey of balances of payments of countries of the ECAFE region is difficult because of limitation of data. For three countries at least, namely, Burma, Malaya and Pakistan, estim ates are not available. For other countries, estimates, although available, are not complete or continuous. In general, much less information is available on capital th an on current account. Consequently it is difficult to explain in many cases how deficits or surpluses on current account have been financed. Again, since in many cases prewar estimates are either not available at all or available only in incomplete form, it is difficult to assess the nature and extent of the changes th a t have taken place since the war. A further difficulty is that, in regard to most invisible items, only estimates on a global basis are available, not their distribution by countries. Consequently, the balance of a particular country or of the whole region with another country or region cannot be exactly ascertained. Lastly, since the accounts are drawn up in different forms in different countries and the definition and classification of items vary, it is difficult to make any country-wise comparisons or regional summaries.


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