capital account balance
the net purchase of financial -ssets in a country by foreigners. put another way, the capital account balance is the net influx of money from overseas investors. it includes net purchases of domestic financial -ssets by foreigners minus net purchases of foreign financial -ssets by domestic citizens.
the capital account balance over short periods of time (e.g., a fortnight) is extremely volatile; over a period of a year, however, it usually offsets the current account balance. for example, in all years since 1980, the usa has run a large-to-huge current account deficit, but in most years it has run a capital account surplus that is almost as big as the current account deficit.
the capital account balance often permits a huge trade deficit to persist over several decades without a significant fall in the exchange rate of a nation’s currency.
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