LEADER 05262oam 22012134 450 001 9910817630803321 005 20240912164034.0 010 $a1-4623-7898-6 010 $a1-4527-2383-4 010 $a9786612843099 010 $a1-4518-7236-4 010 $a1-282-84309-5 035 $a(CKB)3170000000055254 035 $a(EBL)1608269 035 $a(SSID)ssj0000941191 035 $a(PQKBManifestationID)11967067 035 $a(PQKBTitleCode)TC0000941191 035 $a(PQKBWorkID)10964074 035 $a(PQKB)11229941 035 $a(OCoLC)586109526 035 $a(Au-PeEL)EBL4954852 035 $a(CaONFJC)MIL284309 035 $a(OCoLC)732599799 035 $a(IMF)WPIEE2009089 035 $a(MiAaPQ)EBC1608269 035 $a(MiAaPQ)EBC4954852 035 $a(IMF)WPIEA2009089 035 $a(EXLCZ)993170000000055254 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 $aBalance of payments$2imf 606 $aCurrent Account Adjustment$2imf 606 $aCurrent account$2imf 606 $aEconomic policy$2imf 606 $aEmpirical Studies of Trade$2imf 606 $aEnergy: Demand and Supply$2imf 606 $aEnergy: General$2imf 606 $aExports and Imports$2imf 606 $aFiscal Policy$2imf 606 $aFiscal policy$2imf 606 $aFiscal stance$2imf 606 $aInternational economics$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Energy$2imf 606 $aMacroeconomics$2imf 606 $aNternational cooperation$2imf 606 $aOil prices$2imf 606 $aOil$2imf 606 $aPetroleum industry and trade$2imf 606 $aPrices$2imf 606 $aShort-term Capital Movements$2imf 606 $aTerms of trade$2imf 607 $aUnited States$2imf 615 0$aFinancial crises. 615 0$aRegional economic disparities. 615 7$aBalance of payments 615 7$aCurrent Account Adjustment 615 7$aCurrent account 615 7$aEconomic policy 615 7$aEmpirical Studies of Trade 615 7$aEnergy: Demand and Supply 615 7$aEnergy: General 615 7$aExports and Imports 615 7$aFiscal Policy 615 7$aFiscal policy 615 7$aFiscal stance 615 7$aInternational economics 615 7$aInvestment & securities 615 7$aInvestments: Energy 615 7$aMacroeconomics 615 7$aNternational cooperation 615 7$aOil prices 615 7$aOil 615 7$aPetroleum industry and trade 615 7$aPrices 615 7$aShort-term Capital Movements 615 7$aTerms of trade 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