Vztah deficitu běžného účtu platební bilance a rozpočtového deficitu - analýza panelových dat
The relationship of budget deficit and current account balance - panel data analysis
Josef Arlt and
Politická ekonomie, 2005, vol. 2005, issue 6, 747-764
Panel data are increasingly being used in both macro- and micro-level studies of economic problems. Macro-panel data (i denotes countries) are characteristic by sufficiently long time series to be able to analyze panel spurious regression and panel cointegration. According to the main stream of the economic theory the budget deficits leads to deterioration in the current account balance. The panel long-run causal relation is examined in the case of the four groups of countries. For the Granger causality test the panel cointegration analysis is needed. The panel cointegration relationships were not found in any case. Some similarities in the panels were found in the case of Latin America countries but they are not significant.
Keywords: causality; budget deficit; panel data; current account balance; panel cointegration analysis (search for similar items in EconPapers)
JEL-codes: C22 C23 E62 (search for similar items in EconPapers)
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