Structural and cyclical factors of Greece’s current account balances: a note

Ioanna C. Bardakas ()
Additional contact information
Ioanna C. Bardakas: Bank of Greece

No 206, Working Papers from Bank of Greece

Abstract: This note examines the relative importance of cyclical and structural factors in determining Greece’s current account performance. I use a number of filters to remove the long-term component and isolate the cyclical factors. It is shown that for the last 15-years the structural component explains most of the variation in the current account. Cyclical factors show a small increase in importance during the economic crisis. Thus, for any improvement in the current account to become permanent emphasis should be placed, among others, on the adjustment of structural factors such as the development of import substitution and export promotion strategies and in finding ways to improve flows of trade-financing to exporting firms.

Keywords: Cyclical factors; structural factors; current account performance; filtering methods (search for similar items in EconPapers)
JEL-codes: C01 F14 (search for similar items in EconPapers)
Pages: 19
Date: 2016-04
New Economics Papers: this item is included in nep-eec
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.bankofgreece.gr/BogEkdoseis/Paper2016205.pdf http://www.bankofgreece.gr/BogEkdoseis/Paper2016206.pdf Full Text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bog:wpaper:206

Access Statistics for this paper

More papers in Working Papers from Bank of Greece Contact information at EDIRC.
Bibliographic data for series maintained by Anastasios Rizos ().