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Determinants of the Current Account in the Eu and PIIGS

Ketenci, N; Uz Akdogan, I; Geldi, HK; (2014) Determinants of the Current Account in the Eu and PIIGS. CEA Journal of Economics , 9 (2) pp. 5-14. Green open access

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Abstract

This paper investigates the relationship between current account balance and national savings, investment, budget deficit, and real exchange rate. These determinants of the current account are studied empirically by applying the Generalized Method of Moments for a sample of 24 European countries. The sample data are divided into three different groups, PIIGS, EU-PIIGS, and EU in order to study the group-specific estimations. The main result of the paper is that the determinants of our model are capable of accurately explaining past movements in current accounts for all selected groups. Additionally, current account determinants in the economically weak members, PIIGS, behave slightly differently from the rest of the EU.

Type: Article
Title: Determinants of the Current Account in the Eu and PIIGS
Open access status: An open access version is available from UCL Discovery
Publisher version: http://journal.cea.org.mk/index.php/ceajournal/art...
Language: English
Additional information: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Current Account; European Union; Generalized Method of Moments
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: https://discovery.ucl.ac.uk/id/eprint/10086725
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