Analýza a vývoj platební bilance USA v širším ekonomickém kontextu

The primary aim of this diploma thesis is an analysis of the US balance of payments. The thesis is divided into eight main chapters. The introductory chapter is devoted to the theory of balance of payments, remaining parts mainly follow the individual accounts and partial balances of this statement. Within the current account analysis the reader will be acquainted, among other things, with the US most important business partners, items of foreign trade, US oil resources or with the problematics of United States' negative investment position. In case of a financial account part, emphasis is placed on the investment composition in sense of direct, portfolio and other investments. Regarding direct investments, the analysis is focused on their location, in case of portfolio investments the reader will be acquainted with the main creditors of the US government. Space is also devoted to the dollar as the main reserve currency and to the Lucas’s paradox. The last chapter presents selected specifics of the US economy affecting (inter alia) the form of its balance of payments, such as gravity model of international trade, demographic development or sectoral debt in connection with characteristics of US dollar.