Abstract
National economies are becoming increasingly interdependent. This interdependence takes the form of trade in goods and financial assets between economies. This trade of course necessitates payments being arranged between countries. It is mainly through the banking systems of the countries concerned that these payments are arranged. Because of this an analysis of monetary and banking relationships would be incomplete without an examination of these international transactions and their implications. A useful starting-point in the study of international economic transactions is to study the record of international economic transactions in any given period as shown by a nation’s balance-of-payments accounts.
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