The Spanish Current Account Revisited: Descriptive and Empirical Research from 1993 to 2018

Alejandro Rodrigo

MPRA Paper from University Library of Munich, Germany

Abstract: The current account in general and the trade balance in particular can be useful indicators of competitiveness. Capital investments are undertaken to increase productive capacity and enhance competitive position, but if competitors also invest wisely or our own investments generate a misallocation of resources the competitive position may remain unchanged or even get worse. Empirical research regarding the sustainability of persistent current account deficits for the Spanish economy aims to provide evidence about the predictability of future financial crises. In addition, further analysis is performed concerning the recent current account adjustment in order to answer the inquiries relating its continuity.

Keywords: current account deficits; trade balance; capital expenditure; unit labor cost; competitive position; intertemporal budget constraint; sustainability. (search for similar items in EconPapers)
JEL-codes: F21 F30 F32 F41 (search for similar items in EconPapers)
Date: 2019-10-18
New Economics Papers: this item is included in nep-int and nep-opm
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