D-MacroEcon-Ch32b-NCO

Net Capital Outflow ($\text{NCO}$)

Definition

$$\begin{array}{rl}\text{Net capital outflow}=& \text{Purchase of foreign assets by domestic residents}\\ & -\text{Purchase of domestic assets by foreigners}\end{array}$$

NCO 描述的是資金（Purchasing power）如何在跨境移動，這個現象稱為 Capital outflow。而這些金錢用來在國外購買資產（Asset）

影響 NCO 的因素

D-MacroEcon-Ch33b-Foreign_Currency_Exchange_Market

資金移動的兩種形式

• Foreign direct investment
• Foreign portfolio investment