Sustainable and Excessive Current Account Deficits
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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Large current account deficits are often assumed to play an important role in the propagation of financial crises in emerging markets in receipt of heavy private capital inflows. This paper reaches some major conclusions. First, the Lawson Doctrine — according to which current account deficits that result from a shift in private-sector behaviour...
