Title Are African current account deficits different? : stylized facts, transitory shocks, and decomposition analysis / prepared by César Calderón, Alberto Chong and Luisa Zanforlin

Published [Washington, D.C.] : International Monetary Fund, ©2001

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Description 1 online resource (39 pages) : illustrations Series IMF working paper ; WP/01/4 IMF working paper ; WP/01/4 Summary This paper analyzes the behavior of current account deficits in Africa and estimates whether the deficits are excessive with respect to fundamentals. The findings are the deficits are (i) not very persistent; (ii) positively linked with domestic growth; (iii) strongly linked with public (and private) savings, suggesting that fiscal consolidation in IMF-supported programs may be relatively effective; (iv) linked with aid flows, so as to close the external gap, and (v) linked with currency depreciation and the terms of trade. The deficit is "excessive," as it is almost 3 percent of the gross national disposable income above the equilibrium level Bibliography Includes bibliographical references Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Balance of payments -- Africa Accounts current -- Africa Saving and investment -- Africa Accounts current Balance of payments Economic history Saving and investment SUBJECT Africa -- Economic conditions -- 1960- http://id.loc.gov/authorities/subjects/sh85001552 Subject Africa Form Electronic book Author Chong, Alberto Zanforlin, L International Monetary Fund. African Department ISBN 1451890362 9781451890365 1281603309 9781281603302

Other Titles African current account deficits

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