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The Persistence of Current Account Balances and its Determinants: The Implications for Global Rebalancing

The Persistence of Current Account Balances and its Determinants: The Implications for Global Rebalancing

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This paper examines the statistical nature of the persistency of current account balances and its determinants. With the assumption that stationary current account series ensures the long-run budget constraint while countries may experience “local non-stationarity” in current account balances, the authors examine the dynamics of current account balances across a panel of 70 countries.



This paper examines the statistical nature of the persistency of current account balances and its determinants. With the assumption that stationary current account series ensures the long-run budget constraint while countries may experience “local non-stationarity” in current account balances, the authors examine the dynamics of current account balances across a panel of 70 countries.

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Published by: Asian Development Bank Institute on Dec 17, 2012
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09/17/2013

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