Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/750
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dc.contributor.authorGundlach, Erichen_US
dc.contributor.authorSinn, Stefanen_US
dc.date.accessioned2009-01-28T14:14:47Z-
dc.date.available2009-01-28T14:14:47Z-
dc.date.issued1991en_US
dc.identifier.urihttp://hdl.handle.net/10419/750-
dc.description.abstractThis 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.-
dc.language.isoengen_US
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen_US
dc.relation.ispartofseries|aKiel Working Paper |x495en_US
dc.subject.jelF21-
dc.subject.jelF32-
dc.subject.ddc330-
dc.subject.keywordInternational capital mobility
dc.subject.keywordcurrent account adjustment
dc.subject.keywordunit root tests
dc.titleUnit root tests of the current account balance: implications for international capital mobilityen_US
dc.typeWorking Paperen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:ifwkwp:495-
dc.identifier.printppn118128450en_US

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