Global imbalances and petrodollars [[electronic resource] /] / Rabah Arezki and Fuad Hasanov

• Autore: Arezki Rabah
• Pubblicazione: [Washington, D.C.], : International Monetary Fund, 2009
• Descrizione fisica: 1 online resource (27 p.)
• Disciplina: 382.17
• Soggetto topico: Financial crises; Regional economic disparities
• Soggetto genere / forma: Electronic books.
• Altri autori: HasanovFuad <1978->
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; 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 ; 2. 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)
• Sommario/riassunto: Oil 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.
• Titolo autorizzato: Global imbalances and petrodollars
• ISBN: 1-4623-7898-6; 1-4527-2383-4; 9786612843099; 1-4518-7236-4; 1-282-84309-5
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910464011903321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/09/89.