Citation

Discussion Paper Details

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Title: Current Account Sustainability: Selected East Asian and Latin American Experiences

Author(s): Gian Maria Milesi-Ferretti and Assaf Razin

Publication Date: November 1996

Keyword(s): Current Account, Exports, Real Exchange Rate, Savings and Sustainability

Programme Area(s): International Macroeconomics

Abstract: A number of developing countries have run large and persistent current account deficits in both the late-1970s/early-1980s and in the early-1990s, raising the issue of whether these persistent imbalances are sustainable. This paper puts forward a notion of current account sustainability and compares the experience of three Latin American countries ? Chile, Colombia and Mexico ? and three East Asian countries ? Korea, Malaysia and Thailand. It identifies a number of potential sustainability indicators and discusses their usefulness in predicting external crises.

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Bibliographic Reference

Milesi-Ferretti, G and Razin, A. 1996. 'Current Account Sustainability: Selected East Asian and Latin American Experiences'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1509