External Balance in Low Income Countries:
This paper offers a coherent empirical analysis of the determinants of the real exchange rate, the current account, and the net foreign assets position in low income countries. The paper focuses on indicators specific to low income countries, such as the quality of policies and institutions, the spe...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2009
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 09/221 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper offers a coherent empirical analysis of the determinants of the real exchange rate, the current account, and the net foreign assets position in low income countries. The paper focuses on indicators specific to low income countries, such as the quality of policies and institutions, the special access to official external financing, and the role of shocks. In addition to more standard factors, we find that domestic financial liberalization is associated with higher current account balances and net foreign asset positions, while capital account liberalization is associated with lower current account balances and net foreign asset positions and with more appreciated real exchange rates. Negative exogenous shocks tend to raise (reduce) the current account in countries with closed (opened) capital accounts. Finally, foreign aid is progressively absorbed over time through net imports, and is associated with a more depreciated real exchange rate in the long-run |
| Beschreibung: | 1 Online-Ressource (52 p) |
| ISBN: | 1451873689 9781451873689 |
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| id | DE-604.BV048349256 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:26Z |
| indexdate | 2024-07-10T09:35:35Z |
| institution | BVB |
| isbn | 1451873689 9781451873689 |
| language | English |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Christiansen, Lone Engbo Verfasser aut External Balance in Low Income Countries Christiansen, Lone Engbo Washington, D.C International Monetary Fund 2009 1 Online-Ressource (52 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/221 This paper offers a coherent empirical analysis of the determinants of the real exchange rate, the current account, and the net foreign assets position in low income countries. The paper focuses on indicators specific to low income countries, such as the quality of policies and institutions, the special access to official external financing, and the role of shocks. In addition to more standard factors, we find that domestic financial liberalization is associated with higher current account balances and net foreign asset positions, while capital account liberalization is associated with lower current account balances and net foreign asset positions and with more appreciated real exchange rates. Negative exogenous shocks tend to raise (reduce) the current account in countries with closed (opened) capital accounts. Finally, foreign aid is progressively absorbed over time through net imports, and is associated with a more depreciated real exchange rate in the long-run Online-Ausg Prati, Alessandro Sonstige oth Ricci, Luca Antonio Sonstige oth Tressel, Thierry Sonstige oth http://elibrary.imf.org/view/IMF001/10474-9781451873689/10474-9781451873689/10474-9781451873689.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Christiansen, Lone Engbo External Balance in Low Income Countries |
| title | External Balance in Low Income Countries |
| title_auth | External Balance in Low Income Countries |
| title_exact_search | External Balance in Low Income Countries |
| title_exact_search_txtP | External Balance in Low Income Countries |
| title_full | External Balance in Low Income Countries Christiansen, Lone Engbo |
| title_fullStr | External Balance in Low Income Countries Christiansen, Lone Engbo |
| title_full_unstemmed | External Balance in Low Income Countries Christiansen, Lone Engbo |
| title_short | External Balance in Low Income Countries |
| title_sort | external balance in low income countries |
| url | http://elibrary.imf.org/view/IMF001/10474-9781451873689/10474-9781451873689/10474-9781451873689.xml |
| work_keys_str_mv | AT christiansenloneengbo externalbalanceinlowincomecountries AT pratialessandro externalbalanceinlowincomecountries AT riccilucaantonio externalbalanceinlowincomecountries AT tresselthierry externalbalanceinlowincomecountries |