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The intertemporal budget constraint and current account sustainability in Cyprus: evidence and policy implications

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  • Charalambos Pattichis

Abstract

Using the recently developed 'bounds' testing approach, this article provides evidence that Cyprus is not in violation of its intertemporal budget constraint and its current account balance is 'strongly' sustainable in the long-run. A policy implication of these findings is that the loss of exchange rate policy following the adoption of the euro in 2008 may not be a serious cost for Cyprus. On a methodological level, the results presented in this article support theoretical models that employ an intertemporal approach to modelling the current account.

Suggested Citation

  • Charalambos Pattichis, 2010. "The intertemporal budget constraint and current account sustainability in Cyprus: evidence and policy implications," Applied Economics, Taylor & Francis Journals, vol. 42(4), pages 463-473.
    • Handle: RePEc:taf:applec:v:42:y:2010:i:4:p:463-473
    DOI: 10.1080/00036840802599875
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    Cited by:

    1. Issouf Samaké & Ms. Priscilla S Muthoora & Mr. Bruno Versailles, 2013. "Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries: The Case of Cameroon," IMF Working Papers 2013/144, International Monetary Fund.
    2. Seema Narayan & Sivagowry Sriananthakumar, 2020. "Are the Current Account Imbalances on a Sustainable Path?," JRFM, MDPI, vol. 13(9), pages 1-24, September.
    3. Tahir Mukhtar & Aliya H. Khan, 2016. "The Current Account Deficit Sustainability: An Empirical Investigation for Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 55(4), pages 397-419.

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