The condition of a country's balance of payments is a crucial factor for effective development in small open economies, such as Poland and Ukraine. Because of their dependence on the climate in international markets, Poland and Ukraine are especially vulnerable to fluctuations in the global...

This paper examines the Balance-of-Payment (BOP) constraint growth model in Nigeria for the period of 1980 to 2012 using the bounds testing Auto regressive Distributed Lag (ARDL) approach. The ARDL test suggests that the variables in the framework have a long run relationship. The empirical...

Migrations of the resident population in Serbia, with the Western European countries as the main destination, have influenced remittances becoming an important source of income from abroad. Relevant economic literature, as well as the influential views expressed in the international financial...

In this paper, we examine the various links among external debt, trade openness and current account in Sub-Saharan Africa, utilizing an approach that highlights current account from the perspective of saving and investment. We explore whether external debt aids the subsequent adjustment process...

Creative accounting allows governments and, more particularly, finance ministers to somehow manage financial reports to achieve specific and possibly self-interested goals. It is usually used to hide deficits. It sometimes also helps to present financial performance as being more worrisome than...

This study aims to find out the fundamental macroeconomic, institutional and financial determinants of current account balances by using panel data analysis method. The analysis is carried out by using the data for the period between 1986 and 2013 of 97 developing and developed countries. We...

The world runs a trade surplus with itself: the reported values of exports exceed the reported values of imports. This is logically impossible but a well-known empirical fact. Less well-known is the fact that, in recent years, the EU has a trade surplus with itself that amounts to more than 80%...

This study aims to investigate the relations between the level of the real exchange rate, foreign savings and domestic savings in Brazil. The appreciation of the domestic currency caused by financing the current account deficit reduces the expected profit rate in the tradable goods industry,...

To put public debt on a sustainable path, many governments face the task of enacting large fiscal consolidation followed by years of sustained primary surpluses. By estimating hazard functions for the duration of consolidations, we analyse the features of past consolidation efforts across a...

Over the years, empirical evidence on twin-deficit hypothesis has been inconsistent. While some support it, others affirm the prevalence of the Ricardian Equivalence. This study therefore examines a nonlinear/threshold relationship between the deficits among the BRICS economies using the Panel...