Baharumshah, Ahmad Zubaidi; Lau, Evan - Department of Economics, National University of Ireland - 2002
. The empirical results indicate clearly that for all countries, except Malaysia, current account deficits were not on the … countries were unsustainable and did not move towards external account equilibrium. Moreover, the persistent current account … deficits might serve as a leading indicator of financial crises. In contrast, we find strong comovement between inflows and …