Long-run relationship between exports and ...
Type de document :
Compte-rendu et recension critique d'ouvrage
Titre :
Long-run relationship between exports and imports: current account sustainability tests for the EU
Auteur(s) :
Afonso, Antonio [Auteur]
Huart, Florence [Auteur]
Economie Quantitative, Intégration, Politiques Publiques et Econométrie [EQUIPPE]
Lille économie management - UMR 9221 [LEM]
Jalles, João Tovar [Auteur]
Stanek, Piotr [Auteur]
Huart, Florence [Auteur]
Economie Quantitative, Intégration, Politiques Publiques et Econométrie [EQUIPPE]
Lille économie management - UMR 9221 [LEM]
Jalles, João Tovar [Auteur]
Stanek, Piotr [Auteur]
Titre de la revue :
Portuguese Economic Journal
Éditeur :
Springer Verlag
Date de publication :
2019-12-20
ISSN :
1617-982X
Discipline(s) HAL :
Sciences de l'Homme et Société/Economies et finances
Résumé en anglais : [en]
We assess the sustainability of external imbalances for EU countries using panel stationarity tests of Current Account (CA) balance-to-GDP ratios and panel cointegration of exports and imports of goods and services, for ...
Lire la suite >We assess the sustainability of external imbalances for EU countries using panel stationarity tests of Current Account (CA) balance-to-GDP ratios and panel cointegration of exports and imports of goods and services, for the period 1970Q1–2015Q4. We find that: i) the country panel is non-stationary; ii) cross-sectional dependence plays an important role; iii) there is non-stationarity of the CA, imports, and exports with cross-sectional panel dependence and multiple structural breaks; iv) however, there is a stable long-run relationship between exports and imports in the panel. Hence, trade imbalances can be less unsustainable but this is not sufficient to make current account imbalances sustainable.Lire moins >
Lire la suite >We assess the sustainability of external imbalances for EU countries using panel stationarity tests of Current Account (CA) balance-to-GDP ratios and panel cointegration of exports and imports of goods and services, for the period 1970Q1–2015Q4. We find that: i) the country panel is non-stationary; ii) cross-sectional dependence plays an important role; iii) there is non-stationarity of the CA, imports, and exports with cross-sectional panel dependence and multiple structural breaks; iv) however, there is a stable long-run relationship between exports and imports in the panel. Hence, trade imbalances can be less unsustainable but this is not sufficient to make current account imbalances sustainable.Lire moins >
Langue :
Anglais
Vulgarisation :
Non
Collections :
Source :
Fichiers
- https://rem.rc.iseg.ulisboa.pt/wps/pdf/REM_WP_099_2019.pdf
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