Unit root tests of the current account balance : implications for international capital mobility

dc.creator	Gundlach, Erich
dc.creator	Sinn, Stefan
dc.date	1991
dc.date.accessioned	2013-10-16T06:03:15Z
dc.date.available	2013-10-16T06:03:15Z
dc.date.issued	2013-10-16
dc.identifier	http://hdl.handle.net/10419/750
dc.identifier	ppn:118128450
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/750
dc.description	This paper assesses the extent of international capital mobility in a time series context. It explores the possibility that the current account balance of different OECD-countries contains a unit root. It is shown that if the ratio of the current account balance to GDP is found to be integrated of the order of one, the country is likely to be part of the world capital market. The results for the whole period 1950-1988 indicate that the current account balance of at least Germany, Japan, and the United States contains a unit root. Considering the subperiods before and after 1972 it is shown that international capital mobility increased after the breakdown of the Bretton Woods System.
dc.language	eng
dc.publisher	Kiel Institute for the World Economy (IfW) Kiel
dc.relation	Kiel Working Papers 495
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject	F21
dc.subject	F32
dc.subject	ddc:330
dc.subject	International capital mobility
dc.subject	current account adjustment
dc.subject	unit root tests
dc.title	Unit root tests of the current account balance : implications for international capital mobility
dc.type	doc-type:workingPaper

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