An Investigation of Current Account Solvency in Latin America Using Non Linear Nonstationarity Tests

Georgios Chortareas, George Kapetanios and Merih Uctum

Studies in Nonlinear Dynamics & Econometrics, 2004, vol. 8, issue 1, 19

Abstract: Using a new methodology that allows nonlinearities, we find frequent support for external debt sustainability in a number of Latin American countries. Our findings reverse the results for several countries, obtained with traditional unit-root tests and present a richer framework for evaluating the external solvency of an economy. Our results also provide some justification for the assumption the international current accounts are based on.

Date: 2004
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DOI: 10.2202/1558-3708.1200

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