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External Balance in Low Income Countries / / Lone Engbo Christiansen, Alessandro Prati, Luca Ricci, Thierry Tressel



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Autore: Christiansen Lone Engbo Visualizza persona
Titolo: External Balance in Low Income Countries / / Lone Engbo Christiansen, Alessandro Prati, Luca Ricci, Thierry Tressel Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica: 52 p. : ill
Soggetto topico: Macronomics - Econometric models
Foreign exchange rates - Developing countries
Finance, Public - Developing countries
Exports and Imports
Foreign Exchange
Macroeconomics
Current Account Adjustment
Short-term Capital Movements
Personal Income, Wealth, and Their Distributions
International Investment
Long-term Capital Movements
International economics
Currency
Foreign exchange
Current account
Real exchange rates
Personal income
Capital account liberalization
Foreign assets
Balance of payments
Income
Investments, Foreign
Soggetto geografico: Developing countries Economic policy
United States
Altri autori: PratiAlessandro  
RicciLuca  
TresselThierry  
Note generali: "October 2009".
Nota di bibliografia: Includes bibliographical references.
Sommario/riassunto: This paper offers a coherent empirical analysis of the determinants of the real exchange rate, the current account, and the net foreign assets position in low income countries. The paper focuses on indicators specific to low income countries, such as the quality of policies and institutions, the special access to official external financing, and the role of shocks. In addition to more standard factors, we find that domestic financial liberalization is associated with higher current account balances and net foreign asset positions, while capital account liberalization is associated with lower current account balances and net foreign asset positions and with more appreciated real exchange rates. Negative exogenous shocks tend to raise (reduce) the current account in countries with closed (opened) capital accounts. Finally, foreign aid is progressively absorbed over time through net imports, and is associated with a more depreciated real exchange rate in the long-run.
Titolo autorizzato: External Balance in Low Income Countries  Visualizza cluster
ISBN: 1-4623-1237-3
1-4527-9243-7
9786612844256
1-282-84425-3
1-4518-7368-9
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788225803321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2009/221