05179oam 22011654 450 991078834820332120230721045625.01-4623-9715-81-4527-0568-297866128425041-4518-7175-91-282-84250-1(CKB)3170000000055191(EBL)1608156(SSID)ssj0000940108(PQKBManifestationID)11491951(PQKBTitleCode)TC0000940108(PQKBWorkID)10948125(PQKB)11297146(OCoLC)694140984(MiAaPQ)EBC1608156(IMF)WPIEE2009028(EXLCZ)99317000000005519120020129d2009 uf 0engur|n|---|||||txtccrCurrent Account Determinants for Oil-Exporting Countries /Hanan MorsyWashington, D.C. :International Monetary Fund,2009.1 online resource (15 p.)IMF Working Papers"February 2009."1-4519-1611-6 Includes bibliographical references.Contents; I. Introduction; II. Methodology and Variable Definitions; III. Estimation Results; Text Tables; 1. Current Account Regressions; IV. Sensitivity Analysis; 2. Robustness of Current Account Regressions Using GMM; V. Conclusion; ReferencesThe paper aims at characterizing the main determinants of the medium-term current account balance for oil-exporting countries using dynamic panel estimation techniques. Previous studies included a very limited number of oil-exporting countries in their samples, raising concerns about the applicability of the estimated coefficients for oil countries. Furthermore, current approaches are not specifically tailored to oil-producing countries because they fail to capture the effects of oil wealth and the degree of maturity in oil production. This paper explores the underlying determinants of the current account balance for a large sample of oilexporting countries, and extends the specifications commonly used in the literature to include an oil wealth variable, as well as a proxy for the degree of maturity in oil production. The paper therefore contributes to the existing literature both in terms of the sample studied as well as the variables considered. The results reveal that factors that matter in determining the equilibrium current account balance of oil-exporting counties are the fiscal balance, the oil balance, oil wealth, age dependency, and the degree of maturity in oil production.IMF Working Papers; Working Paper ;No. 2009/028Balance of paymentsEconometric modelsPetroleum industry and tradeEconometric modelsInvestments: EnergyimfExports and ImportsimfMacroeconomicsimfIndustries: EnergyimfForeign ExchangeimfCurrent Account AdjustmentimfShort-term Capital MovementsimfInternational Policy Coordination and TransmissionimfEnergy: GeneralimfMacroeconomics: ProductionimfFiscal PolicyimfInternational economicsimfInvestment & securitiesimfPetroleum, oil & gas industriesimfCurrent accountimfOilimfCurrent account balanceimfOil productionimfFiscal stanceimfBalance of paymentsimfCommoditiesimfProductionimfFiscal policyimfPetroleum industry and tradeimfSaudi ArabiaimfBalance of paymentsEconometric models.Petroleum industry and tradeEconometric models.Investments: EnergyExports and ImportsMacroeconomicsIndustries: EnergyForeign ExchangeCurrent Account AdjustmentShort-term Capital MovementsInternational Policy Coordination and TransmissionEnergy: GeneralMacroeconomics: ProductionFiscal PolicyInternational economicsInvestment & securitiesPetroleum, oil & gas industriesCurrent accountOilCurrent account balanceOil productionFiscal stanceBalance of paymentsCommoditiesProductionFiscal policyPetroleum industry and trade339.378Morsy Hanan1472707International Monetary Fund.Middle East and Central Asia Dept.DcWaIMFBOOK9910788348203321Current Account Determinants for Oil-Exporting Countries3716533UNINA