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Current Account Deficits, External Liabilities and Economic Policy [electronic resource] Pitchford, J. D..

Author/Creator:
Pitchford, J. D.
Publication:
Washington, D.C. : International Monetary Fund, 1992.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 92/54.
IMF Working Papers; Working Paper No. 92/54
Format/Description:
Government document
Book
1 online resource (52 p.)
Local subjects:
Balance of payments.
Balance of payments constraint.
Balance of payments disequilibrium.
Balance of payments equilibrium.
Budget balances.
Capital account.
Currency debt.
Currency debts.
Currency risk.
Current account.
Current account balance.
Current account balances.
Current account deficit.
Current account deficits.
Current account imbalances.
Debt crisis.
Debt servicing.
Debt situation.
Debt situations.
Debt stocks.
Debt trap.
Domestic currency.
Domestic debt.
Domestic saving.
Excess debt.
External indebtedness.
External liabilities.
External liability.
Foreign currency debt.
Foreign currency debts.
Foreign debt.
Foreign debts.
Foreign loan.
Government debt.
International borrowing.
International lending.
Net debtors.
Private debt.
Private sector debt.
Public borrowing.
Public debt.
Ratio of debt.
Reserve bank.
Australia.
Summary:
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.
Notes:
Description based on print version record.
Contributor:
Pitchford, J. D.
Other format:
Print Version:
ISBN:
1451847432:
9781451847437
ISSN:
1018-5941
Publisher Number:
10.5089/9781451847437.001
Access Restriction:
Restricted for use by site license.
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