Current account sustainability in Central and Eastern Europe: structural change and crisis
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Title
Current account sustainability in Central and Eastern Europe: structural change and crisisDate
2020-02-13Publisher
SpringerBibliographic citation
CUESTAS, Juan Carlos; MONFORT BELLIDO, Mercedes (2020). Current account sustainability in Central and Eastern Europe: structural change and crisis. Empirica, online 13/2/2020Type
info:eu-repo/semantics/articlePublisher version
https://link.springer.com/article/10.1007/s10663-020-09473-7Version
info:eu-repo/semantics/publishedVersionSubject
Abstract
In this paper we analyse the evolution of the current account as a percentage of GDP for a group of Central and Eastern European Countries. Instead of analysing only the variable for unit roots, we go a step further ... [+]
In this paper we analyse the evolution of the current account as a percentage of GDP for a group of Central and Eastern European Countries. Instead of analysing only the variable for unit roots, we go a step further and test for different speeds of mean reversion dependent on break dates endogenously determined. We apply the Bai and Perron method to find that most countries have managed to balance their current account, but some of them should keep an eye on the low speed of mean reversion and the deviation of the time trend from balance. [-]
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Empirica (2020), online 13/2/2020Investigation project
Financial support from the MINEIC-AEI-FEDER ECO2017-85503-R and ECO2017-83255-C3-3-P projects, both of them from ‘Ministerio de Economía, Industria y Competitividad’ (MINEIC), ‘Agencia Estatal de Investigación’ (AEI) Spain and ‘Fondo Europeo de Desarrollo Regional’ (FEDER).Rights
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
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