Herrmann, Sabine; Winkler, Adalbert - Directorate-General Economic and Financial Affairs, … - 2009
account in emerging markets. While countries in emerging Asia have been running sizeable current account surpluses, countries … in emerging Europe have been facing large current account deficits. In this paper we test for the relevance of financial … in explaining the divergent patterns of real convergence and the current account in the regions under review. …