International Capital Flows and National Creditworthiness : Do the Fundamental Things Apply As Time Goes By? »
Series: IMF Working Papers
Author(s): Paul Cashin , and C. McDermott
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 1998
Keywords: consumption smoothing, international capital flows, structural break, current account, current account deficit, current account imbalances, current account deficits, external liabilities
This paper examines the optimality of international capital flows to a persistent net importer of capital, Australia, during its post-capital-controls period 1984-98. The results suggest that international capital...