Current Account Determinants in Central Eastern European Countries

Jonida Bollano
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Jonida Bollano: Bank of Albania

No 22-2015, IHEID Working Papers from Economics Section, The Graduate Institute of International Studies

Abstract: This paper empirically investigates the determinants of current accounts for a sample of 11 Central and East European Countries outside the Euro area. To this end we rely on the estimation of a panel VAR model with fixed effects over the period Q1 2005 to Q42014. Consistent with existing literature, we show that domestic GDP, the fiscal deficit, and the real effective exchange rate are key determinants of the current accounts of these countries. The dynamic relationships revealed in the paper complement the empirical literature on several fronts by providing new evidence from these emerging market economies.

Keywords: Current account determinants; Central East Europe; P-VAR; GMM estimation (search for similar items in EconPapers)
JEL-codes: F31 F32 F41 F42 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2015-10-01
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:gii:giihei:heidwp22-2015

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