Current Account Deficits in Africa: Stylized Facts and Basic Determinants

This article analyzes the behavior of current account deficits in Africa. The findings are that deficits are (i) not very persistent; (ii) positively linked with domestic growth; (iii) strongly linked with public (and private) savings, suggesting that fiscal consolidation in IMF-supported programs may be relatively effective; (iv) linked with aid flows, so as to close the external gap; and (v) linked with currency depreciation and the terms of trade.

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Year of publication:	2007
Authors:	Calderón, César ; Chong, Alberto ; Zanforlin, Luisa
Published in:	Economic Development and Cultural Change. - University of Chicago Press. - Vol. 56.2007, p. 191-221
Publisher:	University of Chicago Press

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005739298