IDEAS home Printed from https://ideas.repec.org/p/bis/biswps/11.html
   My bibliography  Save this paper

The external balance of the smaller industrial countries: international developments and national policies since 1968

Author

Listed:
  • Jonathan M Hoffman

Abstract

This paper examines some salient features of the balances of payments of the developed countries outside the Group of Ten since 1968, first comparing their current accounts to those of the other main groups in the world, then relating their export performance to that of the OECD area as a whole and finally examining the financing of their current-account deficit and the resulting indebtedness. Despite the diversity of the countries in the ODC group, they have not generally suffered pronounced, prolonged external disequilibria as a result of autonomous disturbances, thanks to tight monetary policy and structural reforms. The policy reaction of ODCs to the two oil shocks has differed with regards to the financing of the consequent deficits (from reserves in the case of the first shock; by external borrowing in the case of the second), resulting high levels of indebtedness for some ODCs.

Suggested Citation

  • Jonathan M Hoffman, 1984. "The external balance of the smaller industrial countries: international developments and national policies since 1968," BIS Working Papers 11, Bank for International Settlements.
    • Handle: RePEc:bis:biswps:11
    as

    Download full text from publisher

    File URL: http://www.bis.org/publ/work11.pdf
    File Function: Full PDF document
    Download Restriction: no
    File URL: http://www.bis.org/publ/work11.htm
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bis:biswps:11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christian Beslmeisl (email available below). General contact details of provider: https://edirc.repec.org/data/bisssch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.