@techreport{Gundlach1991Unit,
abstract = {This paper assesses the extent of international capital mobility
in a time series context. It explores the possibility that
the current account balance of different OECD-countries contains
a unit root. It is shown that if the ratio of the current
account balance to GDP is found to be integrated of the order
of one, the country is likely to be part of the world capital
market. The results for the whole period 1950-1988 indicate
that the current account balance of at least Germany, Japan,
and the United States contains a unit root. Considering the
subperiods before and after 1972 it is shown that international
capital mobility increased after the breakdown of the Bretton
Woods System.},
address = {Kiel},
author = {Erich Gundlach and Stefan Sinn},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F21; F32; 330; International capital mobility; current account adjustment; unit root tests},
language = {eng},
number = {495},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {Unit root tests of the current account balance : implications for international capital mobility},
type = {Kiel Working Papers},
url = {http://hdl.handle.net/10419/750},
year = {1991}
}
