Growth Following Investment and Consumption-Driven Current Account Crises:
Current account deficits imply increasing liabilities to the rest of the world. External sustainability then depends on whether these can be met in the future without defaulting, i.e., normally through trade account surpluses. To run such surpluses without a fall in consumption, capital inflows shou...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
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Schriftenreihe: | IMF Working Papers
Working Paper No. 13/217 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | Current account deficits imply increasing liabilities to the rest of the world. External sustainability then depends on whether these can be met in the future without defaulting, i.e., normally through trade account surpluses. To run such surpluses without a fall in consumption, capital inflows should be used to increase future output. This paper tentatively finds that current account deficits reversals that follow investment booms are marked by better growth performance than those following consumption booms. It also shows that many recent large current account deficits have been predominantly the result of consumption or non-productive investment booms |
Beschreibung: | 1 Online-Ressource (23 p) |
ISBN: | 1484321898 9781484321898 |
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spelling | Klemm, Alexander Verfasser aut Growth Following Investment and Consumption-Driven Current Account Crises Klemm, Alexander Washington, D.C International Monetary Fund 2013 1 Online-Ressource (23 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/217 Current account deficits imply increasing liabilities to the rest of the world. External sustainability then depends on whether these can be met in the future without defaulting, i.e., normally through trade account surpluses. To run such surpluses without a fall in consumption, capital inflows should be used to increase future output. This paper tentatively finds that current account deficits reversals that follow investment booms are marked by better growth performance than those following consumption booms. It also shows that many recent large current account deficits have been predominantly the result of consumption or non-productive investment booms Online-Ausg http://elibrary.imf.org/view/IMF001/20863-9781484321898/20863-9781484321898/20863-9781484321898.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Klemm, Alexander Growth Following Investment and Consumption-Driven Current Account Crises |
title | Growth Following Investment and Consumption-Driven Current Account Crises |
title_auth | Growth Following Investment and Consumption-Driven Current Account Crises |
title_exact_search | Growth Following Investment and Consumption-Driven Current Account Crises |
title_exact_search_txtP | Growth Following Investment and Consumption-Driven Current Account Crises |
title_full | Growth Following Investment and Consumption-Driven Current Account Crises Klemm, Alexander |
title_fullStr | Growth Following Investment and Consumption-Driven Current Account Crises Klemm, Alexander |
title_full_unstemmed | Growth Following Investment and Consumption-Driven Current Account Crises Klemm, Alexander |
title_short | Growth Following Investment and Consumption-Driven Current Account Crises |
title_sort | growth following investment and consumption driven current account crises |
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