Are Global Imbalances Sustainable?: Shedding Further Light on the Causes of Current Account Reversals
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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Large shifts in countries’ external current account positions can be disruptive, often reflecting sudden stops in the flows of external finance and leading to exchange rate and banking crises. As a result, an empirical literature has emerged on the sustainability of, and the determinants of large swings in, current account positions. We shed...
