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Current Account Imbalances in AsEAN Countries : Are they a Problem? / Jonathan Ostry.
- Format:
- Book
- Government document
- Author/Creator:
- Ostry, Jonathan.
- Series:
- IMF Working Papers; Working Paper ; No. 1997/051
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (31 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 1997.
- Language Note:
- English
- Summary:
- Applying a consumption-smoothing model to five ASEAN countries reveals that excessive private consumption has not tended to characterize their widening external imbalances in recent years, except to a small degree in Indonesia and Malaysia. Beyond consumption smoothing, however, a number of factors influence the desirability of running large external deficits, including the level and composition of external liabilities, the flexibility of macroeconomic policies, and the health of banking systems. Even when the current account deficit appears sustainable, there is a case to reduce them in order to lower the risks arising from such factors.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9786613781499
- 9781462359110
- 1462359116
- 9781452776514
- 1452776512
- 9781281600806
- 1281600806
- 9781451894097
- 1451894090
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