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imbalances. Since the onset of the crisis, the People's Republic of China and the United States have rebalanced. As a share of …'s Republic of China, the reduction in its current account surplus post-crisis suggests a structural change. Panel regressions for …
Persistent link: https://www.econbiz.de/10010234054
imbalances. Since the onset of the crisis, the People's Republic of China and the United States have rebalanced. As a share of …'s Republic of China, the reduction in its current account surplus post-crisis suggests a structural change. Panel regressions for …
Persistent link: https://www.econbiz.de/10013060054
This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique characteristics. It uses quantile regression techniques to allow the estimated factors driving...
Persistent link: https://www.econbiz.de/10013098602
This paper examines the contemporaneous and inter-temporal interaction between real exchange rate and real interest rate differential in the two financial crises of 1997 and 2008 by using data from thirteen countries from different world regions. The empirical result shows that negative...
Persistent link: https://www.econbiz.de/10013012058
We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We … observe two striking patterns visible since the 2007/8 Global Financial Crisis. First, while China has been gradually reducing … these two countries, there is a remarkable reversal in the patterns of exchange rate misalignment: China's currency has …
Persistent link: https://www.econbiz.de/10012008403
We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We … observe two striking patterns visible since the 2007/8 Global Financial Crisis. First, while China has been gradually reducing … these two countries, there is a remarkable reversal in the patterns of exchange rate misalignment: China’s currency has …
Persistent link: https://www.econbiz.de/10012024585
encompasses the two biggest countries in the world: the U.S.A. and China. Many authors defend the assertion that the relationship … increased its deficit in the last decade, China has improved its surplus. To investigate this relationship, this study performed … for the external balances of America and China in 2008. The dynamics of the Chinese external balance changed after the …
Persistent link: https://www.econbiz.de/10011865319
We use panel probit models with unobserved heterogeneity, state-dependence and serially correlated errors in order to analyze the determinants and the dynamics of current-account reversals for a panel of developing and emerging countries. The likelihood-based inference of these models requires...
Persistent link: https://www.econbiz.de/10003870630
Persistent link: https://www.econbiz.de/10003983873
The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two questions: what triggers reversals, and what factors explain how costly reversals are? It finds that both domestic variables, such as...
Persistent link: https://www.econbiz.de/10012781958