Este documento identifica y evalúa empíricamente los posibles canales de transmisión entre el balance fiscal y el balance en cuenta corriente y determina estadísticamente la posible causalidad ente ellos. Para el período analizado, no se encuentra una clara relación entre los dos balances, y entre ellos y los canales de transmisión identificados por la teoría. Cuando existen indicios estadísticos de un nexo entre los dos balances, el sentido de la relación es inverso al que comúnmente se espera, es decir, se encuentra que el balance en cuenta corriente causa el balance fiscal.
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Paper provided by Banco de la Republica de Colombia in its series Borradores de Economia with number
166.
Find related papers by JEL classification: H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
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