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010   $a9786612843099
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035   $a(PQKBTitleCode)TC0000941191
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035   $a(IMF)WPIEE2009089
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100   $a20020129d2009      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aGlobal Imbalances and Petrodollars /$fFuad Hasanov, Rabah Arezki
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2009.
215   $a1 online resource (27 p.)
225 1 $aIMF Working Papers
300   $aDescription based upon print version of record.
311   $a1-4519-1671-X 
320   $aIncludes bibliographical references.
327   $aContents; I. Introduction; Figures; 1. Evolution of Current Account; II. The Global Imbalances Debate; III. Empirical Investigation; A. Stylized Facts; 2. Evolution of Oil Exporters' Current Account and Fiscal Balance: Twin Surpluses; 3. Evolution of Fiscal Balance; 4. NFA, Current Account, and Spending in Oil-Exporting Countries; B. Empirical Specification, Data, and Estimators; 5. Fiscal Balance, Revenues, and Spending in Oil-Exporting Countries; C. Estimation Results; Tables; 1. Current Account Estimations (1980-2007, Annual); D. Robustness
327   $a2. Current Account Estimations: Oil Exporters, GMM (1980-2007, Annual)3. Current Account Estimations (1980-2007, 4-year average); IV. Concluding Remarks; References; Appendices; I. Data Description and Sources; II. GMM Estimators; Appendix III Tables; A1. Current Account Estimations: Total Sample (With Outliers, 1980-2007, Annual); A2. Current Account Estimations: Oil Exporters, Pooled OLS (1980-2007, Annual); A3. Current Account Estimations: Oil Exporters, FE (1980-2007, Annual)
330 3 $aOil exporters have run large current account surpluses. We explore oil exporters' role in our understanding and the resolution of global imbalances. Current account dynamics are estimated for oil-exporting countries and the rest of the world. We find that fiscal policy has a much stronger effect on current account of oil exporters than on current account of other countries. The current account adjustment of oil-exporting countries is also faster than that of other countries. We conclude that a change in fiscal policy of oil exporters can have significant and speedy impact on global imbalances.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2009/089
606   $aFinancial crises
606   $aRegional economic disparities
606   $aInvestments: Energy$2imf
606   $aExports and Imports$2imf
606   $aMacroeconomics$2imf
606   $aCurrent Account Adjustment$2imf
606   $aShort-term Capital Movements$2imf
606   $aEnergy: General$2imf
606   $aEnergy: Demand and Supply$2imf
606   $aPrices$2imf
606   $aFiscal Policy$2imf
606   $aEmpirical Studies of Trade$2imf
606   $aInternational economics$2imf
606   $aInvestment & securities$2imf
606   $aCurrent account$2imf
606   $aOil$2imf
606   $aOil prices$2imf
606   $aFiscal stance$2imf
606   $aTerms of trade$2imf
606   $aBalance of payments$2imf
606   $aPetroleum industry and trade$2imf
606   $aFiscal policy$2imf
606   $aEconomic policy$2imf
606   $anternational cooperation$2imf
607   $aUnited States$2imf
615  0$aFinancial crises.
615  0$aRegional economic disparities.
615  7$aInvestments: Energy
615  7$aExports and Imports
615  7$aMacroeconomics
615  7$aCurrent Account Adjustment
615  7$aShort-term Capital Movements
615  7$aEnergy: General
615  7$aEnergy: Demand and Supply
615  7$aPrices
615  7$aFiscal Policy
615  7$aEmpirical Studies of Trade
615  7$aInternational economics
615  7$aInvestment & securities
615  7$aCurrent account
615  7$aOil
615  7$aOil prices
615  7$aFiscal stance
615  7$aTerms of trade
615  7$aBalance of payments
615  7$aPetroleum industry and trade
615  7$aFiscal policy
615  7$aEconomic policy
615  7$anternational cooperation
676   $a382.17
700   $aHasanov$b Fuad$01595841
701   $aArezki$b Rabah$01595842
712 02$aInternational Monetary Fund.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910817630803321
996   $aGlobal Imbalances and Petrodollars$93916942
997   $aUNINA