Has the current account broken up with its fundamentals in Central and Eastern Europe?
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Título
Has the current account broken up with its fundamentals in Central and Eastern Europe?Fecha de publicación
2021-01-26Editor
John Wiley and SonsISSN
1099-1158Cita bibliográfica
Coleman S, Cuestas JC.Has the current account broken up with its fundamentals in Central and Eastern Europe? IntJ Fin Econ. 2021;1–19.Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://onlinelibrary.wiley.com/doi/full/10.1002/ijfe.2458Versión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
Substantial capital outflows across Europe following the 2007/8 Global Financial Crisis and 201 European Sovereign Debt crisis raise concerns regarding potential capital outflows from the economies of Central and ... [+]
Substantial capital outflows across Europe following the 2007/8 Global Financial Crisis and 201 European Sovereign Debt crisis raise concerns regarding potential capital outflows from the economies of Central and Eastern European countries. To shed light on country-level factors that can mitigate crisis and potential capital outflows across these countries, this article investigates which factors have influenced the evolution of their current accounts.
Our analyses, using dynamic ordinary least squares, suggest that the long-run determinants of the current account have indeed changed over time, and threshold cointegrated estimates also confirm that, for each country, the parameters are dependent on thresholds for certain variables and there is significant heterogeneity across the countries. Our overall results are robust to complementary analyses, such as threshold estimation approach. We comment on some possible implications of these differences. [-]
Publicado en
International Journal of Finance and Economics (2021)Datos relacionados
https://ec.europa.eu/eurostat/web/products-datasets/-/bop_gdp6_qDerechos de acceso
info:eu-repo/semantics/openAccess
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