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Current Account Sustainability - Selected East Asian and Latin American Experiences

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  • Assaf Razin
  • Gian-Maria Milesi-Ferretti

Abstract

A number of developing countries have run large and persistent current account deficits in both the late-1970s/early-1980s and in the early-1990s, 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 and 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.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 96/110.

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Length: 50
Date of creation: 01 Oct 1996
Date of revision:
Handle: RePEc:imf:imfwpa:96/110

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