On the Dynamics of the Greek Twin Deficits: Empirical evidence over the period 1960 – 2007
AbstractOne of the most important open macroeconomic issues, during the current global economic recession, concerns the sustainability of persistent budget and trade deficits as well as possible interactions between them. These deficits are most crucial due to severe debt servicing costs, faced by today's economies despite their development level. This paper presents time series evidence over the period 1960 up to 2007, using data of the Greek Economy. Our results confirm 'weak' sustainability of both deficits and evidence in favor of the Keynesian rationale regarding the 'twin deficits hypothesis'
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Bibliographic InfoArticle provided by Technological Educational Institute (TEI) of Kavala, Greece in its journal International Journal of Economic Sciences and Applied Research (IJESAR).
Volume (Year): 2 (2009)
Issue (Month): 2 (December)
Budget and Trade Deficits; Sustainability; Twin Deficits Hypothesis; Cointegration; Greek Economy (1960-2007);
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
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