Beusch, Elisabeth; Döbeli, Barbara; Fischer, Andreas M; … - C.E.P.R. Discussion Papers - 2014
raises national savings in the home country without increasing domestic investment. This results in a larger current account … surplus. To show the empirical links between merchanting and the current account balance, two exercises are performed in this … countries in empirical models of the medium-term current account. The second exercise shows that merchanting's impact on the …