This study argues that a notion of current-account sustainability that considers the willingness to pay and to lend, in addition to intertemporal solvency, provides a better framework for understanding the variety of experiences countries have had with protracted current-account imbalances.
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Length: 78 pages Date of creation: 1996 Date of revision: Handle: RePEc:fth:prinfi:81
Contact details of provider: Postal: International Finance Section, Department of Economics Princeton University, Princeton, New Jersey, U.S.A Phone: (609) 258-4000 Fax: (609) 258-6419 Email: Web page: http://www.econ.princeton.edu/ More information through EDIRC
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Find related papers by JEL classification: F34 - International Economics - - International Finance - - - International Lending and Debt Problems
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