haku: @indexterm CURRENT ACCOUNT / yhteensä: 36
viite: 2 / 36
| Tekijä: | Marquez, J. |
| Otsikko: | Productivity, investment, and current accounts: Reassessing the evidence |
| Lehti: | Review of World Economics
2004 : VOL. 140:2, p. 282-301 |
| Asiasana: | Productivity Investment Current account Developed economies Growth |
| Kieli: | eng |
| Tiivistelmä: | The most widely accepted explanation for the inverse association btw. private investments and current accounts (Glick and Rogoff 1995) rests on data for manufactures through 1990. To address this question, this paper replicates the results. It is found that post-1990 developments eliminate the support for such a conclusion. In addition, alternative formulations are implemented and found, again, a lack of empirical support for their findings. Thus, the role of measurement errors are examined with focus on the treatment of the manufacturing sector as representative of the whole economy and the exclusion of the contribution of capital when measuring productivity. Correcting these two measurement errors restores to Glick and Rogoff's conclusion its original strength. |
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