Accounting for the global economy

the long version

The book describes the construction method for a global accounting framework, referred to as the world accounting matrix (WAM). The WAM allows for the consistent presentation of international trade and finance figures in relation to domestic saving and investment. The book shows how a WAM can be used for the analysis of trade and finance in a global context. In addition, it shows how the WAM can contribute to the solution of the large statistical problems in national and global macroeconomic data.