Are African Current Account Deficits Different? Stylized Facts, Transitory Shocks, and Decomposition Analysis »
Series: IMF Working Papers
Author(s): Luisa Zanforlin , César Calderón , and Alberto Chong
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2001
Keywords: Dynamic Panel Data Models, Decomposition Analysis, current account deficits, current account deficit, current account balance, current account balances, International Finance: General, Macroeconomic Aspects of International Trade and Finance: General,
This paper analyzes the behavior of current account deficits in Africa and estimates whether the deficits are excessive with respect to fundamentals. The findings are the deficits are (i) not very persistent; (ii)...