External Balance in Low Income Countries

Released on by Mr.Thierry Tressel
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  • External Balance in Low Income Countries Book Detail

  • Author : Mr.Thierry Tressel
  • Release Date : 2009-10-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 54
  • ISBN 13 : 1451873689
  • File Size : 69,69 MB
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External Balance in Low Income Countries by Mr.Thierry Tressel PDF Summary

Book Description: 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.

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External Balance in Low Income Countries

External Balance in Low Income Countries

File Size : 79,79 MB
Total View : 7983 Views
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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 i

External Balance in Low Income Countries

External Balance in Low Income Countries

File Size : 73,73 MB
Total View : 4730 Views
DOWNLOAD

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 i