Abstract
The indicators of external balance and net investment position show the macroeconomic and financial stability of a given country towards foreign countries. Considering the intensive interconnectedness between countries, from the trade and investment flows perspective, this topic is crucial, since many distortions occur in the complex global system. Primarily in the case of emerging countries it is necessary to consider the whole macroeconomic context, especially the effort for convergence towards more developed countries. The article deals with the topic of external (im)balances in the case of the Czech Republic and Slovakia. The main statistical source is the balance of payments and the investment position, which can show the origins of any external imbalances. Determining the cause of the imbalances is connected with recommendations aiming at changes in the economic model of the two countries.
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