05398oam 22012614 450 991096112420332120250426110919.0978661284250497814623971501462397158978145270568214527056829781451871753145187175997812828425021282842501(CKB)3170000000055191(EBL)1608156(SSID)ssj0000940108(PQKBManifestationID)11491951(PQKBTitleCode)TC0000940108(PQKBWorkID)10948125(PQKB)11297146(OCoLC)694140984(MiAaPQ)EBC1608156(IMF)WPIEE2009028(IMF)WPIEA2009028WPIEA2009028(EXLCZ)99317000000005519120020129d2009 uf 0engur|n|---|||||txtccrCurrent Account Determinants for Oil-Exporting Countries /Hanan Morsy1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (15 p.)IMF Working Papers"February 2009."9781451916119 1451916116 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 modelsBalance of paymentsimfCommoditiesimfCurrent Account AdjustmentimfCurrent account balanceimfCurrent accountimfEnergy: GeneralimfExports and ImportsimfFiscal PolicyimfFiscal policyimfFiscal stanceimfForeign ExchangeimfIndustries: EnergyimfInternational economicsimfInternational Policy Coordination and TransmissionimfInvestment & securitiesimfInvestments: EnergyimfMacroeconomicsimfMacroeconomics: ProductionimfOil productionimfOilimfPetroleum industry and tradeimfPetroleum, oil & gas industriesimfProductionimfShort-term Capital MovementsimfSaudi ArabiaimfBalance of paymentsEconometric models.Petroleum industry and tradeEconometric models.Balance of paymentsCommoditiesCurrent Account AdjustmentCurrent account balanceCurrent accountEnergy: GeneralExports and ImportsFiscal PolicyFiscal policyFiscal stanceForeign ExchangeIndustries: EnergyInternational economicsInternational Policy Coordination and TransmissionInvestment & securitiesInvestments: EnergyMacroeconomicsMacroeconomics: ProductionOil productionOilPetroleum industry and tradePetroleum, oil & gas industriesProductionShort-term Capital Movements339.378Morsy Hanan1816381International Monetary Fund.Middle East and Central Asia Dept.DcWaIMFBOOK9910961124203321Current Account Determinants for Oil-Exporting Countries4372611UNINA