Abstract

http://ssrn.com/abstract=139048
 
 

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Current-Account Reversals in Developing Countries: The Role of Fundamentals


Alberto Bagnai


University "Gabriele D'Annunzio"

Stefano Manzocchi


Luiss University - Department of Economics

October 23, 1998


Abstract:     
This paper studies episodes of current-account reversal in developing countries (DCs) in the period 1965-1994. First, a number of persistent shifts ("reversals") in the current-account balance dynamics are identified by structural break and segmented trend tests; then, the relationship between these reversals and a set of fundamentals suggested by the intertemporal approach to the current account is investigated in a panel-data set-up. We find that fundamentals play a different role in episodes of persistent deterioration or improvement of the current-account balance in DCs.

Number of Pages in PDF File: 32

JEL Classification: C22, C23, F32

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Date posted: November 6, 1998  

Suggested Citation

Bagnai, Alberto and Manzocchi, Stefano, Current-Account Reversals in Developing Countries: The Role of Fundamentals (October 23, 1998). Available at SSRN: http://ssrn.com/abstract=139048 or http://dx.doi.org/10.2139/ssrn.139048

Contact Information

Alberto Bagnai (Contact Author)
University "Gabriele D'Annunzio" ( email )
viale Pindaro, 42
Pescara, PE I-65127
Italy
HOME PAGE: http://bagnai.org
Stefano Manzocchi
Luiss University - Department of Economics ( email )
Viale Pola, 12
Rome, 00198
Italy
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References:  36
Citations:  5
Footnotes:  582

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