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The Determinants of Current Account Imbalances in Malawi

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Author Info
Kwalingana, Samson
Nkuna, Onelie
Abstract

Persistent current account imbalances in many least developed and emerging countries have excited considerable interest among researchers and policy makers to have a clear understanding of the dynamics of the current account and its role in macroeconomic outcomes. Based on the saving-investment theory, this paper uses cointegration analysis to identify the long run and short-run determinants of Malawi’s current account deficit using annual data from 1980 to 2006. Results suggest that openness, terms of trade, external debt accumulation, and current account liberalization fundamentally determined the current account deficit in Malawi. Furthermore, results reveal that these deficits have been, to a large extent, persistent.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 14694.

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Date of creation: Apr 2009
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Handle: RePEc:pra:mprapa:14694

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Related research
Keywords: Current Account Balance; Saving-Investment Balances; Cointegration;

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F0 - International Economics - - General

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  1. Chinn, Menzie D. & Prasad, Eswar S., 2003. "Medium-term determinants of current accounts in industrial and developing countries: an empirical exploration," Journal of International Economics, Elsevier, vol. 59(1), pages 47-76, January. [Downloadable!] (restricted)
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  2. Goldstein, Morris & Khan, Mohsin S., 1985. "Income and price effects in foreign trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 20, pages 1041-1105 Elsevier. [Downloadable!] (restricted)
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This page was last updated on 2009-12-16.

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