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In macroeconomics and international finance, the capital account (also known as the financial account) is one of two primary components of the balance of payments, the other being the current account. Whereas the current account reflects a nation's net income, the capital account reflects net change in ownership of national assets. A surplus in the capital account means money is flowing into the country, but unlike a surplus in the current account, the inbound flows effectively represent borrowings or sales of assets rather than payment for work. A deficit in the capital account means money is flowing out of the country, and it suggests the nation is increasing its ownership of foreign assets. The term "capital account" is used with a narrower meaning by the International Monetary Fund (IMF) and affiliated sources. The IMF splits what the rest of the world calls the capital account into two top-level divisions: ''financial account'' and ''capital account'', with by far the bulk of the transactions being recorded in its financial account. ==The capital account in macroeconomics== At high level: : Breaking this down: : * Foreign direct investment (FDI) refers to long-term capital investment, such as the purchase or construction of machinery, buildings, or whole manufacturing plants. If foreigners are investing in a country, that represents an inbound flow and counts as a surplus item on the capital account. If a nation's citizens are investing in foreign countries, that represents an outbound flow and counts as a deficit. After the initial investment, any yearly profits that are not reinvested will flow in the opposite direction but will be recorded in the current account rather than as capital. * Portfolio investment refers to the purchase of shares and bonds. It is sometimes grouped together with "other" as short-term investment. As with FDI, the income derived from these assets is recorded in the current account; the capital account entry will just be for any buying or selling of the portfolio assets in the international capital markets.〔 * ''Other investment'' includes capital flows into bank accounts or provided as loans. Large short-term flows between accounts in different nations commonly occur when the market can take advantage of fluctuations in interest rates and/or the exchange rate between currencies. Sometimes this category can include the ''reserve account''.〔 * ''Reserve account''. The reserve account is operated by a nation's central bank to buy and sell foreign currencies; it can be a source of large capital flows to counteract those originating from the market. Inbound capital flows (from sales of the nation's foreign currency), especially when combined with a current account surplus, can cause a rise in value (appreciation) of a nation's currency, while outbound flows can cause a fall in value (depreciation). If a government (or, if authorized to operate independently in this area, the central bank itself) does not consider the market-driven change to its currency value to be in the nation's best interests, it can intervene. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Capital account」の詳細全文を読む スポンサード リンク
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