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dc.contributor.authorYang, Lucunen
dc.date.accessioned2011-04-20-
dc.date.accessioned2012-11-02T14:29:57Z-
dc.date.available2012-11-02T14:29:57Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/65838-
dc.description.abstractLimited empirical work has been done to the diverging current account balances of the individual emerging Asian economies. Based on the intertemporal approach to current account, this paper empirically examines both the long-run and short-run impacts of initial stock of net foreign assets, degree of openness to international trade, real exchange rate and relative income on current account balances for eight selected emerging Asian economies over the period 1980-2009, making use of the cointegrated VAR (Vector Autoregression) methodology. This paper finds that current account behaviours in emerging Asian economies are heterogeneous. Initial stock of net foreign assets and degree of openness to international trade are important factors in explaining the long-run behaviour of current accounts. Moreover, the current accounts of all sample economies have a self-adjusting mechanism except China. Short-run current account adjustment towards long-run equilibrium path is gradual, with the disequilibrium term being the main determinant of the short-run current account variations.en
dc.language.isoengen
dc.publisher|aCardiff University, Cardiff Business School |cCardiffen
dc.relation.ispartofseries|aCardiff Economics Working Papers |xE2011/10en
dc.subject.jelE21en
dc.subject.jelF10en
dc.subject.jelF32en
dc.subject.jelF41en
dc.subject.ddc330en
dc.subject.keywordCurrent accounten
dc.subject.keywordEmerging Asiaen
dc.subject.keywordStructural and macroeconomic determinantsen
dc.subject.keywordSaving-investment balanceen
dc.subject.keywordCointegrationen
dc.subject.stwInternationale Wirtschaftsbeziehungenen
dc.subject.stwZahlungsbilanzgleichgewichten
dc.subject.stwAußenhandelsbeschränkungen
dc.subject.stwMakroökonomischer Einflussen
dc.subject.stwOstasienen
dc.titleAn empirical analysis of current account determinants in emerging Asian economies-
dc.typeWorking Paperen
dc.identifier.ppn656749032en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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