Econometric analysis and forecasting of Latvia's balance of payments

Konstantins Benkovskis

MPRA Paper from University Library of Munich, Germany

Abstract: The main goal of the promotion paper is to forecast Latvia's current account, and using this forecast to define, whether the current account deficit is a significant risk factor for Latvian economy. The modelling of Latvia's current account is made by using econometric methodology, on the base of all the most important theoretical concepts of current account. Although the current account deficit is a risk factor for Latvian economy, it will not cause currency and financial crisis during the time period before Latvia's accession into the Economic and Monetary Union (EMU). The econometric models well describe Latvia's current account and its components. Developed current account models are suitable for macroeconomic analysis and forecasting.

Keywords: Latvia; current account; forecasting (search for similar items in EconPapers)
JEL-codes: C30 C53 F17 (search for similar items in EconPapers)
Date: 2005-04
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:23274

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