LEADER 05179oam 22011654 450 001 9910788348203321 005 20230721045625.0 010 $a1-4623-9715-8 010 $a1-4527-0568-2 010 $a9786612842504 010 $a1-4518-7175-9 010 $a1-282-84250-1 035 $a(CKB)3170000000055191 035 $a(EBL)1608156 035 $a(SSID)ssj0000940108 035 $a(PQKBManifestationID)11491951 035 $a(PQKBTitleCode)TC0000940108 035 $a(PQKBWorkID)10948125 035 $a(PQKB)11297146 035 $a(OCoLC)694140984 035 $a(MiAaPQ)EBC1608156 035 $a(IMF)WPIEE2009028 035 $a(EXLCZ)993170000000055191 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCurrent Account Determinants for Oil-Exporting Countries /$fHanan Morsy 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (15 p.) 225 1 $aIMF Working Papers 300 $a"February 2009." 311 $a1-4519-1611-6 320 $aIncludes bibliographical references. 327 $aContents; 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; References 330 3 $aThe paper aims at characterizing the main determinants of the medium-term current account balance for oil-exporting countries using dynamic panel estimation techniques. Previous studies included a very limited number of oil-exporting countries in their samples, raising concerns about the applicability of the estimated coefficients for oil countries. Furthermore, current approaches are not specifically tailored to oil-producing countries because they fail to capture the effects of oil wealth and the degree of maturity in oil production. This paper explores the underlying determinants of the current account balance for a large sample of oilexporting countries, and extends the specifications commonly used in the literature to include an oil wealth variable, as well as a proxy for the degree of maturity in oil production. The paper therefore contributes to the existing literature both in terms of the sample studied as well as the variables considered. The results reveal that factors that matter in determining the equilibrium current account balance of oil-exporting counties are the fiscal balance, the oil balance, oil wealth, age dependency, and the degree of maturity in oil production. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/028 606 $aBalance of payments$xEconometric models 606 $aPetroleum industry and trade$xEconometric models 606 $aInvestments: Energy$2imf 606 $aExports and Imports$2imf 606 $aMacroeconomics$2imf 606 $aIndustries: Energy$2imf 606 $aForeign Exchange$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aInternational Policy Coordination and Transmission$2imf 606 $aEnergy: General$2imf 606 $aMacroeconomics: Production$2imf 606 $aFiscal Policy$2imf 606 $aInternational economics$2imf 606 $aInvestment & securities$2imf 606 $aPetroleum, oil & gas industries$2imf 606 $aCurrent account$2imf 606 $aOil$2imf 606 $aCurrent account balance$2imf 606 $aOil production$2imf 606 $aFiscal stance$2imf 606 $aBalance of payments$2imf 606 $aCommodities$2imf 606 $aProduction$2imf 606 $aFiscal policy$2imf 606 $aPetroleum industry and trade$2imf 607 $aSaudi Arabia$2imf 615 0$aBalance of payments$xEconometric models. 615 0$aPetroleum industry and trade$xEconometric models. 615 7$aInvestments: Energy 615 7$aExports and Imports 615 7$aMacroeconomics 615 7$aIndustries: Energy 615 7$aForeign Exchange 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aInternational Policy Coordination and Transmission 615 7$aEnergy: General 615 7$aMacroeconomics: Production 615 7$aFiscal Policy 615 7$aInternational economics 615 7$aInvestment & securities 615 7$aPetroleum, oil & gas industries 615 7$aCurrent account 615 7$aOil 615 7$aCurrent account balance 615 7$aOil production 615 7$aFiscal stance 615 7$aBalance of payments 615 7$aCommodities 615 7$aProduction 615 7$aFiscal policy 615 7$aPetroleum industry and trade 676 $a339.378 700 $aMorsy$b Hanan$01472707 712 02$aInternational Monetary Fund.$bMiddle East and Central Asia Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788348203321 996 $aCurrent Account Determinants for Oil-Exporting Countries$93716533 997 $aUNINA