The Sustainability of African Current Account Deficits: A Panel Cointegration Analysis
This study tests for the sustainability of current account deficits for a sample of twenty six African countries. For this purpose, a new test procedure advocated by Pedroni is employed which allows one to test for cointegration between exports and imports in heterogeneous panel datasets. This test uses more observations and exploits the cross-country variations of the data in estimation thereby yielding higher test power than alternative cointegration tests. An additional advantage associated with the Pedroni methodology is that we are able estimate the long-run relationships using fully modified and dynamic ordinary least squares and then test country-specific restrictions for long-run sustainability. Using annual data covering the period 1960-2000, this study finds strong evidence in favour of current account sustainability for eight African countries.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 56 (2003)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: |
Phone: +39 010 27041
Fax: +39 010 2704222
Web page: http://www.ge.camcom.it/IT/Tool/ModulisticaEmail:
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ris:ecoint:0164. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angela Procopio)
If references are entirely missing, you can add them using this form.