Examining the “Balance of Payments Stages” Hypothesis

Masanori Ono

Global Economy Journal (GEJ), 2014, vol. 14, issue 03n04, 373-397

Abstract: This paper classifies 175 countries over a period of just 30 years according to the balance of payments stages that are frequently used in proposing a hypothesis that the stage depends on the progression in a nation’s development. Using a nonparametric estimation, this investigation demonstrates that a nation’s stage in the balance of payments has a non-monotonic relationship with its economic development and that a country at the stage of immature creditor–lender enjoys a higher GDP per capita than at any other stage in its development. Another notable finding is that a lending country produces about twice the GDP per capita that a borrowing one does and that about 25% of countries in the world lend money to the rest of the world in nearly every year.

Keywords: GDP per capita; creditor; debtor; multiple comparisons (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/abs/10.1515/GEJ-2014-0016
Access to full text is restricted to subscribers

Related works:
Journal Article: Examining the “Balance of Payments Stages” Hypothesis (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:gejxxx:v:14:y:2014:i:03n04:n:gej-2014-0016

Ordering information: This journal article can be ordered from

DOI: 10.1515/GEJ-2014-0016

Access Statistics for this article

Global Economy Journal (GEJ) is currently edited by Joseph Pelzman

More articles in Global Economy Journal (GEJ) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().