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Factors driving the recent improvement in the euro area’s international investment position

Author

Listed:
  • Fidora, Michael
  • Schmitz, Martin

Abstract

The euro area's international investment position (i.i.p.) improved further in 2017. The recent improvement in the euro area's net i.i.p. was mainly driven by net financial transactions – reflecting the euro area’s current account surplus – and developments in asset prices. As regards financial instruments, the improvement in the euro area's net i.i.p. was mainly due to a shift in portfolio debt securities from a net liability to a net asset position. JEL Classification: F21, F32, F42

Suggested Citation

  • Fidora, Michael & Schmitz, Martin, 2018. "Factors driving the recent improvement in the euro area’s international investment position," Economic Bulletin Boxes, European Central Bank, vol. 3.
    • Handle: RePEc:ecb:ecbbox:2018:0003:2
    Note: 491968
    as

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    File URL: https://www.ecb.europa.eu//pub/pdf/other/ecb.ebbox201803_02.en.pdf
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    Citations

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    Cited by:

    1. Ito, Hiro & McCauley, Robert N., 2019. "A key currency view of global imbalances," Journal of International Money and Finance, Elsevier, vol. 94(C), pages 97-115.

    More about this item

    Keywords

    current account balance; international investment position; portfolio debt; PSPP;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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