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External imbalances and growth

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

No 2017/02, Working Papers from Economics Department, Universitat Jaume I, Castellón (Spain)

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 preponderant positive relationship between the external position and growth, although the impact differs between countries and temporal periods.

Keywords: Economic growth; net external position; nonparametric regression (search for similar items in EconPapers)
JEL-codes: C14 F34 O47 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2017
New Economics Papers: this item is included in nep-opm
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Citations: View citations in EconPapers (3)

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