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Current account sustainability

Author

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  • Milesi-Ferreti, Gian Maria
  • Razin, Assaf

Abstract

This study argues that a notion of current-account sustainability that considers the willingness to pay and to lend, in addition to intertemporal solvency, provides a better framework for understanding the variety of experiences countries have had with protracted current-account imbalances.
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Suggested Citation

  • Milesi-Ferreti, Gian Maria & Razin, Assaf, 1996. "Current account sustainability," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34294, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
  • Handle: RePEc:ecr:col093:34294
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    File URL: http://repositorio.cepal.org/handle/11362/34294
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    Keywords

    MOVIMIENTOS DE CAPITAL; HACIENDA PUBLICA; POLITICA FISCAL; POLITICA PRESUPUESTARIA; CUENTAS NACIONALES; DEUDA EXTERNA; CAPITAL MOVEMENTS; PUBLIC FINANCE; FISCAL POLICY; BUDGETARY POLICY; NATIONAL ACCOUNTS; EXTERNAL DEBT;

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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