Sturzenegger, Federico; Guidotti, Pablo; Villar, Agustín - Escuela de Negocios, Universidad Torcuato Di Tella - 2003
This paper defines current account crises as current account adjustments that occur in the aftermath of a sizable reduction in capital flows. We study the characteristics of such current account adjustments, particularly whether they are executed through export growth or import contraction. We...