Determinants of Current Account Deficits in Developing Countries

The authors examine the empirical links between current account deficits and a broad set of economic variables proposed in the literature. To accomplish this, they complement and extend previous research by using a large, consistent set of macroeco...

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Bibliographic Details
Main Authors:	Calderon, Cesar, Chong, Alberto, Loayza, Norman
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ANNUAL OBSERVATIONS BALANCE OF PAYMENTS BILATERAL TRADE BLACK MARKET BLACK MARKET PREMIUM BUSINESS CYCLE CAPITAL CONTROLS CAPITAL FLOWS CAPITAL GAINS CENTRAL BANK CONSUMER PRICE INDEX COUNTRY DATA COUNTRY SAMPLE COUNTRY SPECIFIC COUNTRY VARIATION CPI CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT REVERSALS DEBT SERVICE DEMOGRAPHICS DEPENDENCY RATIO DEPENDENCY RATIOS DEPENDENT VARIABLE DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT INDICATORS DEVELOPMENT RESEARCH DOMESTIC CURRENCY DOMESTIC OUTPUT DOMESTIC OUTPUT GROWTH DYNAMIC PANEL ECONOMIC CONDITIONS ECONOMIC IMPACT ECONOMICS EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL LITERATURE EMPIRICAL RESEARCH EMPIRICAL STUDIES EQUILIBRIUM ERROR TERM ESTIMATED COEFFICIENT ESTIMATED COEFFICIENTS ESTIMATION METHOD ESTIMATION RESULTS EXPLANATORY VARIABLES EXPORTS EXTERNAL BORROWING EXTERNAL CONDITIONS EXTERNAL DEBT EXTERNAL FACTORS EXTERNAL FINANCING EXTERNAL IMBALANCES EXTERNAL INDEBTEDNESS EXTERNAL SHOCKS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE CONTROLS GNP GOVERNMENT DEBT GROSS NATIONAL PRODUCT GROSS NATIONAL SAVING GROSS OUTPUT GROWTH PERFORMANCE GROWTH RATE GROWTH RATES INDUSTRIAL COUNTRIES INDUSTRIALIZED COUNTRIES INFLATION INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CURRENCY INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL INTEREST RATES INTERNATIONAL INVESTORS INVESTMENT OPPORTUNITIES INVESTMENT RATE INVESTMENT RATES LAGGED DEPENDENT LAGGED LEVELS LAGGED VALUE LAGGED VALUES LIQUID LIABILITIES LOCAL CURRENCY LONG RUN MACROECONOMIC CRISES MACROECONOMIC MISMANAGEMENT MACROECONOMIC UNCERTAINTY MACROECONOMIC VARIABLES MULTIPLE EXCHANGE RATE NATIONAL DISPOSABLE INCOME NATIONAL INCOME NATIONAL SAVING NEGATIVE EFFECT NET FOREIGN ASSETS 0 HYPOTHESIS OIL OUTPUT GROWTH POLICY MAKERS POLICY RESEARCH PRICE ELASTICITIES PRIVATE DOMESTIC PRIVATE SAVING PRIVATE SAVING RATE PRIVATE SAVING RATES PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC DEBT PUBLIC SECTOR REAL APPRECIATION REAL EXCHANGE REAL EXCHANGE RATE REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES RELATIVE INCOME SAVING RATES SAVINGS SERIAL CORRELATION SHORT-RUN CHANGES SIGNIFICANT EFFECT STANDARD DEVIATION TERMS OF TRADE TERMS OF TRADE SHOCKS TRADE SHOCKS TRANSITORY SHOCKS
Online Access:	http://documents.worldbank.org/curated/en/2000/07/443639/determinants-current-account-deficits-developing-countries http://hdl.handle.net/10986/19825

Internet

http://documents.worldbank.org/curated/en/2000/07/443639/determinants-current-account-deficits-developing-countries
http://hdl.handle.net/10986/19825

Determinants of Current Account Deficits in Developing Countries

Internet

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