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Medium-Term Determinants of Current Accounts in Industrial and Developing Countries : an empirical exploration / Menzie David Chinn, Eswar S. Prasad.
- Format:
- Book
- Author/Creator:
- David Chinn, Menzie, author.
- Prasad, Eswar S., 1965- author.
- Language:
- English
- Subjects (All):
- Investments.
- Physical Description:
- 1 online resource (66 pages)
- Place of Publication:
- Washington, District of Columbia : National Bureau of Economic Research, 2000.
- Summary:
- This paper provides an empirical investigation of the medium-term determinants of current accounts for a large sample of industrial and developing countries, utilizing an approach that highlights macroeconomic determinants of longer-term saving and investment balances. Cross-section and panel regression techniques are used to characterize the variation of the current account across countries and over time. We find that current account balances are positively correlated with government budget balances and initial stocks of net foreign assets. Among developing countries, measures of financial deepening are positively associated with current account balances while indicators of openness to international trade are negatively correlated with current account balances.
- Notes:
- Description based on publisher supplied metadata and other sources.
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