It is shown thatS-A turbulencemodel which usually used inexternal flowsstill sustains its precision, numericalstabilityandefficiency in the calculationof internal flows.
The overall external balance will depend heavily on capital flows, and the slow pace of recovery may be amplified by political uncertainty, thus pushing more capital out of the country.
By doing only bottom-up analysis, investors implicitly assume that external factors (the winds and hurricanes of the global economy) have no impact on these cash flows.