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Let's blame Germany for its current account surplus!?

Jost, Thomas - University of Applied Sciences Amberg-Weiden (OTH) - 2014

Germany is often criticized for its large current account surpluses. The surpluses are caused by differences in … economic growth between Germany and its major trading partners, the innovative strength of German enterprises, as well as … Economic and Monetary Union (EMU) induced large net capital exports of Germany into the peripheral economies which mirrored the …

Persistent link: https://www.econbiz.de/10010985179

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects

Broner, Fernando A; Erce, Aitor; Martin, Alberto; … - C.E.P.R. Discussion Papers - 2013

In 2007, countries in the euro periphery were enjoying stable growth, low deficits, and low spreads. Then the Financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and,...

Persistent link: https://www.econbiz.de/10011084507

Sovereign debt markets in turbulent times: creditor discrimination and crowding-out effects

Broner, Fernando; Martin, Alberto; Ventura, Jaume; … - Banco de España - 2014

In 2007, countries in the euro periphery were enjoying stable growth, low deficits and low spreads. Then the financial crisis erupted and pushed them into deep recession, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and, surprisingly,...

Persistent link: https://www.econbiz.de/10010764909

Sovereign debt markets in turbulent times: Creditor discrimination and crowding-out effects

Broner, Fernando; Erce, Aitor; Martin, Alberto; … - Department of Economics and Business, Universitat … - 2013

In 2007, countries in the euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and,...

Persistent link: https://www.econbiz.de/10010849603

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects

Broner, Fernando; Erce, Aitor; Martín, Alberto; … - Barcelona Graduate School of Economics (Barcelona GSE) - 2013

other countries in the Eurozone, and how they may be addressed by policies at the European level. …

Persistent link: https://www.econbiz.de/10010851405

THE ANALYSIS OF FLUCTUATIONS AND CAUSALITY OF CURRENT DEFICIT - ECONOMIC GROWTH AND SHORT TERM CAPITAL FLOWS: THE CASE OF ORGANIZATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

AKBAS, Yusuf Ekrem; SENTURK, Mehmet; OZKAN, Gokcen - In: Journal of Applied Economic Sciences Quarterly VII (2012) 4, pp. 334-344

In this study, Wald tests are carried out based on the method of Panel Granger and GMM to determine whether the causal relationship between economic growth and current budget deficit, short-term capital flows in 20 OECD countries for the period 1990-2010. Also SURADF and CADF testing was...

Persistent link: https://www.econbiz.de/10010743506

Foreign Capital and Economic Growth

Prasad, Eswar S.; Rajan, Raghuram G.; Subramanian, Arvind - In: Brookings Papers on Economic Activity 38 (2007) 1, pp. 153-230

Nonindustrial countries that have relied more on foreign finance have not grown faster in the long run as standard theoretical models predict. The reason may lie in these countries’ limited ability to absorb foreign capital, especially because their financial systems have difficulty allocating...

Persistent link: https://www.econbiz.de/10005021976

Deficitul de cont curent: Maladie cronică a economiei româneşti ?

Georgescu, George - Volkswirtschaftliche Fakultät, … - 2007

The study is emphasizing the weak performances of the Romanian economy, unable to turn positive the current account deficits. On the contrary, because of rising problems in deficits financing through autonomous flows, the debt accumulation could lead Romania on the brink of entering a financial...

Persistent link: https://www.econbiz.de/10008534208

Determinantes del crecimiento económico del Ecuador bajo la Ley de Thirlwall

Ochoa, Diego; Alvarado, Rafael - Volkswirtschaftliche Fakultät, … - 2010

Thirlwall (1979) argues that the development of a country depends of the rest of the world´s dynamics and the degree of imports openness, which implies that the growth is limited by the current account of the balance of payments. The aim of this study is to estimate the Thirlwall´s affirmation...

Persistent link: https://www.econbiz.de/10008685363

Convergence Patterns in Financial Development: Evidence from Club Convergence

Apergis, Nicholas; Christou, Christina; Miller, Stephen M. - Department of Economics, University of Nevada-Las Vegas - 2011

This paper analyzes the degree of convergence of financial development for a panel of 50 countries. We apply the methodology of Phillips and Sul (2007) to various financial development indicators to assess the existence of convergence clubs. We consider nine such indicators that various...

Persistent link: https://www.econbiz.de/10010606854