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External imbalances and growth

Mariam Camarero (), Jesús Peiró-Palomino () and Cecilio Tamarit

No 1808, Working Papers from Department of Applied Economics II, Universidad de Valencia

Abstract: The purpose of the paper is to investigate the role that unbalanced net foreign asset positions play in the growth path of the economies. In particular, the hypothesis to be tested is whether external imbalances may constrain growth in debtor countries. We analyze a large sample of countries using Lane and Milesi-Ferretti “External Wealth of Nations Dataset” and employing both parametric and nonparametric techniques. We find a positive relationship between the external position and growth, although the impact differ between countries and temporal periods.

Keywords: Economic growth; net external position; nonparametric regression (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg
Date: 2018-06
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ftp://147.156.210.157/RePEc/pdf/eec_1808.pdf First version, 2018 (application/pdf)

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Working Paper: External imbalances and growth (2017) Downloads
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