Current Account Developments in New Member States of the European Union: Equilibrium, Excess, and EU-Phoria
This paper analyzes current account (CA) developments in the following 10 new EU members states: Czech Republic, Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. During the last 15 years, these countries, on average, have run CA deficits that are considerably hi...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 08/92 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | This paper analyzes current account (CA) developments in the following 10 new EU members states: Czech Republic, Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. During the last 15 years, these countries, on average, have run CA deficits that are considerably higher than the average CA deficit of other developing countries. However, more recently, a diverging pattern has emerged among these countries with one group, consisting of the Baltic countries, Bulgaria and Romania, experiencing rapid widening, while the others seeing a stabilization in their CA balances. Using panel data for 59 countries, this paper empirically investigates the following three questions: Are higher average deficits in EU-10 explained by medium-term macroeconomic fundamentals? What explains the diverging CA behavior among EU-10? And finally, how challenging is it for the group experiencing rapidly widening CA deficits to reverse the trend? |
| Beschreibung: | 1 Online-Ressource (34 p) |
| ISBN: | 1451869533 9781451869538 |
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| spelling | Rahman, Jesmin Verfasser aut Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria Rahman, Jesmin Washington, D.C International Monetary Fund 2008 1 Online-Ressource (34 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/92 This paper analyzes current account (CA) developments in the following 10 new EU members states: Czech Republic, Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. During the last 15 years, these countries, on average, have run CA deficits that are considerably higher than the average CA deficit of other developing countries. However, more recently, a diverging pattern has emerged among these countries with one group, consisting of the Baltic countries, Bulgaria and Romania, experiencing rapid widening, while the others seeing a stabilization in their CA balances. Using panel data for 59 countries, this paper empirically investigates the following three questions: Are higher average deficits in EU-10 explained by medium-term macroeconomic fundamentals? What explains the diverging CA behavior among EU-10? And finally, how challenging is it for the group experiencing rapidly widening CA deficits to reverse the trend? Online-Ausg Balance of payments European Union countries European Union countries / Economic conditions Electronic books http://elibrary.imf.org/view/IMF001/09202-9781451869538/09202-9781451869538/09202-9781451869538.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Rahman, Jesmin Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria Balance of payments European Union countries |
| title | Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria |
| title_auth | Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria |
| title_exact_search | Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria |
| title_exact_search_txtP | Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria |
| title_full | Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria Rahman, Jesmin |
| title_fullStr | Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria Rahman, Jesmin |
| title_full_unstemmed | Current Account Developments in New Member States of the European Union Equilibrium, Excess, and EU-Phoria Rahman, Jesmin |
| title_short | Current Account Developments in New Member States of the European Union |
| title_sort | current account developments in new member states of the european union equilibrium excess and eu phoria |
| title_sub | Equilibrium, Excess, and EU-Phoria |
| topic | Balance of payments European Union countries |
| topic_facet | Balance of payments European Union countries |
| url | http://elibrary.imf.org/view/IMF001/09202-9781451869538/09202-9781451869538/09202-9781451869538.xml |
| work_keys_str_mv | AT rahmanjesmin currentaccountdevelopmentsinnewmemberstatesoftheeuropeanunionequilibriumexcessandeuphoria |