Add to ORKGThe paper investigates whether higher financial integration leads in general to slower current account adjustments. The study estimates theoretically founded trade balance reaction functions for a panel of seventy countries from 1970-2004. The empirical analysis finds that adjustment in integrated economies is slower. Consistent with the presented theory the trade balance of integrated economies is more persistent, responds less strongly to net foreign assets, and is more sensitive to fluctuations in net output. A sufficiently strong response to net foreign assets is also a condition for external sustainability. Under high integration countries appear to stay close to the sustainability limit
This paper presents an analysis of the sustainability of current account deficits in transition econ...
This paper explores the emergence of large current account imbalances in a few large countries, the ...
Recent literature has argued that conventional measures of external sustainability—the trade balance...
This paper empirically investigates the effect of net external debt holdings on the size of medium-t...
THIS IS THE third in a series of papers we have written over the past five years about the growing U...
This paper examines external adjustment in the United States, Japan and Germany from the perspective...
A narrowing of the U.S. current account deficit through exchange rate movements is likely to entail ...
The paper examines the degree of financial integration in five central and eastern European economie...
Recent literature has argued that conventional measures of external sustainability—the trade balance...
The paper proposes a unified framework to study the dynamics of net foreign assets and exchange rate...
In this paper I analyze the anatomy of current account adjustments in the world economy during the p...
Recent literature has argued that conventional measures of external sustainability—the trade balance...
After widening substantially in the period preceding the global financial crisis, current account im...
The paper investigates sharp reductions seen in current account deficits in selected transition coun...
We investigate the medium-term determinants of the current account using a model that controls for f...
This paper presents an analysis of the sustainability of current account deficits in transition econ...
This paper explores the emergence of large current account imbalances in a few large countries, the ...
Recent literature has argued that conventional measures of external sustainability—the trade balance...
This paper empirically investigates the effect of net external debt holdings on the size of medium-t...
THIS IS THE third in a series of papers we have written over the past five years about the growing U...
This paper examines external adjustment in the United States, Japan and Germany from the perspective...
A narrowing of the U.S. current account deficit through exchange rate movements is likely to entail ...
The paper examines the degree of financial integration in five central and eastern European economie...
Recent literature has argued that conventional measures of external sustainability—the trade balance...
The paper proposes a unified framework to study the dynamics of net foreign assets and exchange rate...
In this paper I analyze the anatomy of current account adjustments in the world economy during the p...
Recent literature has argued that conventional measures of external sustainability—the trade balance...
After widening substantially in the period preceding the global financial crisis, current account im...
The paper investigates sharp reductions seen in current account deficits in selected transition coun...
We investigate the medium-term determinants of the current account using a model that controls for f...
This paper presents an analysis of the sustainability of current account deficits in transition econ...
This paper explores the emergence of large current account imbalances in a few large countries, the ...
Recent literature has argued that conventional measures of external sustainability—the trade balance...