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Correctly analyzing the balance of payments constraint on growth
Razmi, Arslan - 2013
The BPCG model provides an interesting hypothesis regarding economic growth. The main implication is that world demand places a constraint on individual country performance. I discuss this implication and argue that tests of the BPCG model have essentially been tests of the hypothesis that trade...
Persistent link: https://www.econbiz.de/10010209278
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Thirlwall's law and the terms of trade : a parsimonious extension of the balance-of-payments-constrained growth model
Pérez Caldentey, Esteban; Moreno-Brid, Juan Carlos - In: Thirlwall's law at 40, (pp. 37-59). 2021
Persistent link: https://www.econbiz.de/10013369322
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Current-account imbalances and economic growth during the 2008 - 2009 financial crisis : an empirical analysis
Rangelove, Rossitsa - In: Contemporary economics 8 (2014) 2, pp. 123-136
This study examines the relationship between current-account imbalances and economic growth during the 2008-2009 financial and economic crisis for 179 countries (covered by IMF data) and within the EU-27 countries (covered by Eurostat data). The countries are divided into 4 groups by GDP per...
Persistent link: https://www.econbiz.de/10010406280
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Current Account Reversals in Industrial Countries : Does the Exchange Rate Regime Matter?
Pancaro, Cosimo - 2013
This paper studies current account reversals in industrial countries across different exchange rate regimes. There are two major findings which have important implications for industrial economies with external imbalances: first, triggers of current account reversals differ between exchange rate...
Persistent link: https://www.econbiz.de/10013082531
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Persistent Current Account Imbalances : Are they Good or Bad for Regional and Global Growth?
Beirne, John - 2020
We examine the regional and global growth effects of current account imbalances in Japan, Germany, and the People's Republic of China (PRC)—the three largest persistent surplus countries—and the United States and United Kingdom, the two largest persistent deficit countries. Controlling for a...
Persistent link: https://www.econbiz.de/10012840675
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60%, -4% and 6%, a Tale of Thresholds for EU Fiscal and Current Account Developments
Afonso, António; Coelho, José - 2021
We study the relationship between the budget balance and the current account balance for European Union (EU) countries, using quarterly data from 1995 to 2020. Through the use of panel Granger causality tests and a panel SUR model, we conclude that the relationship is bi-directional for the EU...
Persistent link: https://www.econbiz.de/10013212136
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Is the Turkish current account deficit sustainable?
Abbasoğlu, Osman Furkan; İmrohoroğlu, Ayşe; … - 2017
During the 2011-2015 period, Turkey's current account deficit as a percentage of GDP was one of the largest among the OECD countries. In this paper, we examine if this deficit can be considered sustainable using the Engel and Rogers (2006) approach. In this framework, the current account of a...
Persistent link: https://www.econbiz.de/10011609959
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Persistent current account imbalances : are they good or bad for regional and global growth?
Beirne, John; Renzhi, Nuobu; Volz, Ulrich - 2020
This paper examines the regional and global growth effects of current account imbalances in Japan, Germany, and the People's Republic of China (PRC) - the three largest persistent surplus countries - and the United States and United Kingdom, the two largest persistent deficit countries....
Persistent link: https://www.econbiz.de/10012175573
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Growth Following Investment and Consumption-Driven Current Account Crises
Klemm, Alexander - 2013
Current account deficits imply increasing liabilities to the rest of the world. External sustainability then depends on whether these can be met in the future without defaulting, i.e., normally through trade account surpluses. To run such surpluses without a fall in consumption, capital inflows...
Persistent link: https://www.econbiz.de/10013072602
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The Domestic and Global Impact of Japan's Policies for Growth
Batini, Nicoletta - 2006
the world economy. This paper examines the possible impact of fiscal adjustment and productivity-enhancing structural … imbalance with only limited spillovers to the rest of the world. Specifically, faster productivity growth would help lower Japan …'s debt and limit the tendency of fiscal consolidation to increase the external surplus. In fact, very rapid productivity …
Persistent link: https://www.econbiz.de/10012780709