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Sustainability of balancing item of balance of payments accounts: fresh empirical evidence for G7 countries

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  • Tuck Cheong Tang

Abstract

Using a simple balance of payments accounts framework and unit root tests (with level shift), this study provides empirical evidence that, balancing items of balance of payments accounts in the G7 countries are sustainable. The findings of this article may have relevant implications.

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  • Tuck Cheong Tang, 2007. "Sustainability of balancing item of balance of payments accounts: fresh empirical evidence for G7 countries," Applied Economics Letters, Taylor & Francis Journals, vol. 14(4), pages 251-254.
    • Handle: RePEc:taf:apeclt:v:14:y:2007:i:4:p:251-254
    DOI: 10.1080/13504850500425808
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    References listed on IDEAS

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    1. Christis Tombazos, 2003. "New light on the 'impressionistic view' of the balancing item in Australia's balance of payments accounts," Applied Economics, Taylor & Francis Journals, vol. 35(12), pages 1369-1378.
    2. Markku Lanne & Helmut Lütkepohl & Pentti Saikkonen, 2002. "Comparison of unit root tests for time series with level shifts," Journal of Time Series Analysis, Wiley Blackwell, vol. 23(6), pages 667-685, November.
    3. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    4. Dietrich K. Fausten & Brett Pickett, 2004. "‘Errors & Omissions’ in the Reporting of Australia's Cross‐Border Transactions," Australian Economic Papers, Wiley Blackwell, vol. 43(1), pages 101-115, March.
    5. Tuck Cheong Tang, 2006. "Japan's balancing item: do timing errors matter?," Applied Economics Letters, Taylor & Francis Journals, vol. 13(2), pages 81-87.
    6. Duffy, M & Renton, Anthony, 1971. "An Analysis of the U. K. Balancing Item," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 12(3), pages 448-464, October.
    7. Tuck Cheong Tang, 2006. "The influences of economic openness on Japan's balancing item: an empirical note," Applied Economics Letters, Taylor & Francis Journals, vol. 13(1), pages 7-10.
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    Cited by:

    1. Serkan TAŞTAN, 2015. "Sustainability of balancing item of balance of payment for OECD countries: evidence from Fourier Unit Root Tests," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(604), A), pages 93-100, Autumn.
    2. T Tang, 2009. "Testing for Non-linearity in the Balancing Item of Balance of Payments Accounts: The Case of 20 Industrial Countries," Economic Issues Journal Articles, Economic Issues, vol. 14(2), pages 107-124, September.
    3. Tuck Cheong Tang & Evan Lau, 2008. "An Empirical Investigation On The Sustainability Of Balancing Item Of Balance Of Payment Accounts For Oic Member Countries," Monash Economics Working Papers 31/08, Monash University, Department of Economics.
    4. Maria Siranova & Menbere Workie Tiruneh, 2016. "The determinants of errors and omissions in a small and open economy: The case of Slovakia," Working Papers wp73, Institute of Economic Research, Slovak Academy of Sciences, revised 08 Apr 2016.
    5. Liung shi Ding & Tuck cheong Tang, 2017. "‘Net Errors and Omissions' of Balance of Payments and Its Sustainability: A Survey of Literature," Economics Bulletin, AccessEcon, vol. 37(4), pages 2753-2766.
    6. repec:agr:journl:v:3(604):y:2015:i:3(604):p:93-100 is not listed on IDEAS

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