Publication
Long-run relationship between exports and imports: current account sustainability tests for the EU
| dc.contributor.author | Afonso, António | |
| dc.contributor.author | Huart, Florence | |
| dc.contributor.author | Jalles, João Tovar | |
| dc.contributor.author | Stanek, Piotr | |
| dc.date.accessioned | 2020-05-06T13:16:23Z | |
| dc.date.available | 2020-05-06T13:16:23Z | |
| dc.date.issued | 2020-05 | |
| dc.description.abstract | We assess the sustainability of external imbalances for EU countries using panel stationarity tests of Current Account (CA) balance-to-GDP ratios and panel cointegration of exports and imports of goods and services, for the period 1970Q1– 2015Q4. We find that: i) the country panel is non-stationary; ii) cross-sectional dependence plays an important role; iii) there is non-stationarity of the CA, imports, and exports with cross-sectional panel dependence and multiple structural breaks; iv) however, there is a stable long-run relationship between exports and imports in the panel. Hence, trade imbalances can be less unsustainable but this is not sufficient to make current account imbalances sustainable. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Afonso, António ... [et al.] (2020). "Long-run relationship between exports and imports: current account sustainability tests for the EU". Portuguese Economic Journal, 19(2):155-170 | pt_PT |
| dc.identifier.doi | 10.1007/s10258-019-00168-x | pt_PT |
| dc.identifier.issn | 1617-982X (Print) | |
| dc.identifier.issn | 1617-9838 (Online) | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/20066 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | Springer | pt_PT |
| dc.relation.publisherversion | https://link.springer.com/journal/10258/19/2 | pt_PT |
| dc.subject | Current account | pt_PT |
| dc.subject | Exports | pt_PT |
| dc.subject | Imports | pt_PT |
| dc.subject | Unit roots | pt_PT |
| dc.subject | Cointegration | pt_PT |
| dc.title | Long-run relationship between exports and imports: current account sustainability tests for the EU | pt_PT |
| dc.type | journal article | |
| dspace.entity.type | Publication | |
| oaire.citation.conferencePlace | Lisboa | pt_PT |
| oaire.citation.endPage | 170 | pt_PT |
| oaire.citation.issue | 2 | pt_PT |
| oaire.citation.startPage | 155 | pt_PT |
| oaire.citation.title | Portuguese Economic Journal | pt_PT |
| oaire.citation.volume | 19 | pt_PT |
| rcaap.rights | closedAccess | pt_PT |
| rcaap.type | article | pt_PT |