Credit Flows, Fiscal Policy, and the External Deficit of Bosnia and Herzegovina

Daniel Kanda

No 2006/276, IMF Working Papers from International Monetary Fund

Abstract: This paper develops and estimates a model of the trade balance of Bosnia and Herzegovina. Credit flows and the fiscal stance are found to play a significant role in determining the trade balance. On this basis the paper discusses the trade-offs between monetary and fiscal policy settings needed to achieve a clear downward path for the large current account deficit of Bosnia and Herzegovina.

Keywords: WP; trade deficit (search for similar items in EconPapers)
Pages: 17
Date: 2006-12-01
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