Current Account Sustainability: Selected East Asian and Latin American Experiences
Summary:
A number of developing countries have run large and persistent current account deficits in both the late seventies/early eighties and in the early nineties, raising the issue of whether these persistent imbalances are sustainable. This paper puts forward a notion of current account sustainability and compares the experience of three Latin American countries-Chile, Colombia Mexico-and three East Asian countries-Korea, Malaysia and Thailand. It identifies a number of potential sustainability indicators and discusses their usefulness in predicting external crises.
Series:
Working Paper No. 1996/110
Subject:
Balance of payments Current account Current account deficits Current account imbalances External debt Foreign exchange Real exchange rates
English
Publication Date:
October 1, 1996
ISBN/ISSN:
9781451853292/1018-5941
Stock No:
WPIEA1101996
Pages:
50
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