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Current account imbalances, trade and finance

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  • Anna Lo Prete

Abstract

This article analyses how trade-related policy choices and financial development affect current account imbalances in OECD countries. Once the policy-related component of trade openness is estimated using exogenous-to-policy indicators of globalization pressures, legal origins and natural openness, financial development plays a significant role and is negatively associated with the current account.

Suggested Citation

  • Anna Lo Prete, 2012. "Current account imbalances, trade and finance," Applied Economics Letters, Taylor & Francis Journals, vol. 19(4), pages 399-402, March.
    • Handle: RePEc:taf:apeclt:v:19:y:2012:i:4:p:399-402
    DOI: 10.1080/13504851.2011.581198
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    References listed on IDEAS

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    1. Chinn, Menzie D. & Prasad, Eswar S., 2003. "Medium-term determinants of current accounts in industrial and developing countries: an empirical exploration," Journal of International Economics, Elsevier, vol. 59(1), pages 47-76, January.
    2. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 1999. "The Quality of Government," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(1), pages 222-279, April.
    3. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
    4. Gruber, Joseph W. & Kamin, Steven B., 2007. "Explaining the global pattern of current account imbalances," Journal of International Money and Finance, Elsevier, vol. 26(4), pages 500-522, June.
    5. Menzie D. Chinn & Hiro Ito, 2008. "Global Current Account Imbalances: American Fiscal Policy versus East Asian Savings," Review of International Economics, Wiley Blackwell, vol. 16(3), pages 479-498, August.
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    Cited by:

    1. Sáez, Antonio José & Prieto, Faustino & Sarabia, José María, 2012. "A two-tail version of the PPS distribution with application to current account balance data," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(21), pages 5160-5171.
    2. Bosede Victoria Kudaisi, 2022. "Trade, Financial Liberalisation And Current Account Balance In Nigeria," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 7(special), pages 36-50, June.

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