Current Account Deficits, External Liabilities and Economic Policy [electronic resource] Pitchford, J. D..
- Washington, D.C. : International Monetary Fund, 1992.
- IMF eLibrary
IMF Working Papers; Working Paper No. 92/54.
IMF Working Papers; Working Paper No. 92/54
- Government document
1 online resource (52 p.)
- Local subjects:
- Balance of payments.
Balance of payments constraint.
Balance of payments disequilibrium.
Balance of payments equilibrium.
Current account balance.
Current account balances.
Current account deficit.
Current account deficits.
Current account imbalances.
Foreign currency debt.
Foreign currency debts.
Private sector debt.
Ratio of debt.
- This paper assesses the policy significance of foreign liabilities and the current account deficits that give rise to them. Current account imbalances are shown to have some capacity to indicate difficulties elsewhere in the economy, but are imperfect indicators and subject to potential misinterpretation. The paper concludes that successful pursuit of internal balance could be an important factor in stabilizing current account balances, but, beyond that, there seems no good reason for using macroeconomic policy to target the current account as such. However, there may be grounds for microeconomic action to remedy specifically identified problems.
- Description based on print version record.
- Pitchford, J. D.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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