Current Account Sustainability: Selected East Asian and Latin American Experiences

Gian Maria Milesi-Ferretti () and Assaf Razin

No 1509, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: A number of developing countries have run large and persistent current account deficits in both the late-1970s/early-1980s and in the early-1990s, raising the issue of whether these persistent imbalances are sustainable. This paper puts forward a notion of current account sustainability and compares the experience of three Latin American countries – Chile, Colombia and Mexico – and three East Asian countries – Korea, Malaysia and Thailand. It identifies a number of potential sustainability indicators and discusses their usefulness in predicting external crises.

Keywords: Current Account; Exports; Real Exchange Rate; Savings; Sustainability (search for similar items in EconPapers)
JEL-codes: F32 F34 (search for similar items in EconPapers)
Date: 1996-11
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Citations: View citations in EconPapers (76)

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Related works:
Working Paper: Current Account Sustainability: Selected East Asian and Latin American Experiences (1996)
Working Paper: Current Account Sustainability: Selected East Asian and Latin American Experiences (1996)
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