Factors driving the recent improvement in the euro area’s international investment position
Michael Fidora () and
Economic Bulletin Boxes, 2018, vol. 3
The euro area's international investment position (i.i.p.) improved further in 2017. The recent improvement in the euro area's net i.i.p. was mainly driven by net financial transactions – reflecting the euro area’s current account surplus – and developments in asset prices. As regards financial instruments, the improvement in the euro area's net i.i.p. was mainly due to a shift in portfolio debt securities from a net liability to a net asset position. JEL Classification: F21, F32, F42
Keywords: current account balance; international investment position; portfolio debt; PSPP (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2018:0003:2
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