Country specific and world productivity shocks and current account: does the relationship hold in case of India and the G20 group

2022 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Nikita Patial
Keyword(s):  
Current Account ◽  
Productivity Shocks ◽  
The Relationship ◽  
Country Specific

scholarly journals The sustainability of current account in the presence of endogenous multiple structural breaks: Evidence from developed and developing countries

2016 ◽  
Vol 63 (3) ◽  
pp. 339-358
Author(s):  
Fikret Dülger
Keyword(s):  
Developing Countries ◽  
Current Account ◽  
Structural Breaks ◽  
Weak Form ◽  
Productivity Shocks ◽  
Long Run ◽  
Cointegration Tests ◽  
The Stability ◽  
Domestic Economies ◽  
The Relationship

The purpose of this study is to test for the sustainability of current account in 18 developed and 10 developing countries. The stability of the relationship between export (inflows) and import (outflows) is assessed using the tests proposed by Mohitosh Kejriwal and Pierre Perron (2010). In particular, the nature of the long-run relationship, when multiple regime shifts are identified endogenously, is analyzed using the residual-based test of the null hypothesis of cointegration with multiple breaks proposed by Kejriwal (2008). The results clearly indicate that, for all countries, (i) the stability tests reject the null of coefficient stability of the long-run relationship between exports and imports; (ii) the cointegration tests that correspond to the number of breaks selected reject the null of cointegration (weak form of sustainability); and (iii) the strong form of sustainability hypothesis is not supported by the data for all countries in most regimes but not for 20 of 28 countries especially in the last regime (the post-2000 era). For eight countries (Canada, New Zealand, Spain, Brazil, Mexico, South Africa, Thailand, and Turkey), the findings may be perceived as a warning to creditors and policymakers unless there are policy distortions or permanent productivity shocks to the domestic economies.

scholarly journals The Relationship between Current Account Deficits and Growth in Montenegro: ARDL Bounds Testing Approach

2018 ◽  
Vol 7 (3) ◽  
pp. 5-24 ◽  
Author(s):  
Mustafa Özer ◽  
Jovana Žugić ◽  
Sonja Tomaš-Miskin
Keyword(s):  
Growth Rate ◽  
Current Account ◽  
Current Account Deficit ◽  
Gdp Growth ◽  
Bounds Testing ◽  
Current Account Deficits ◽  
Long Run ◽  
Gdp Growth Rate ◽  
Short Run ◽  
The Relationship

Abstract In this study, we investigate the relationship between current account deficits and growth in Montenegro by applying the bounds testing (ARDL) approach to co-integration for the period from the third quarter of 2011 to the last quarter of 2016. The bounds tests suggest that the variables of interest are bound together in the long run when growth is the dependent variable. The results also confirm a bidirectional long run and short run causal relationship between current account deficits and growth. The short run results mostly indicate a negative relationship between changes in the current account deficit GDP ratio and the GDP growth rate. This means that any increase of the value of independent variable (current account deficit GDP ratio) will result in decrease of the rate of GDP growth and vice versa. The long-run effect of the current account deficit to GDP ratio on GDP growth is positive. The constant (β0) is positive but also the (β1), meaning that with the increase of CAD GDP ratio of 1 measuring unit, the GDP growth rate would grow by 0,5459. This positive and tight correlation could be explained by overlapping structure of the constituents of CAD and the drivers of GDP growth (such as tourism, energy sector, agriculture etc.). The results offer new perspectives and insights for new policy aiming for sustainable economic growth of Montenegro.

Introduction

2019 ◽  
pp. 1-4
Author(s):  
D. Justin Coates ◽  
Neal A. Tognazzini
Keyword(s):  
Moral Responsibility ◽  
Current Account ◽  
Moral Status ◽  
Criminal Responsibility ◽  
Personal History ◽  
Michael Smith ◽  
Gary Watson ◽  
The Relationship ◽  
Susan Wolf ◽  
Antony Duff

In this brief introduction, the editors summarize the motivation for the coming together of these chapters—which is to celebrate the work and philosophical legacy of Gary Watson—as well as the content of each contribution. Michael McKenna builds on and systematizes several key elements of Watson’s views on agency and responsibility. Susan Wolf extends elements of Watson’s oeuvre, notably the relationship between the way agents are responsible for their actions and the kind of response licensed by those actions. Pamela Hieronymi goes on from Watson’s work to offer her own account of what blame’s about. R. Jay Wallace is also concerned with Watson’s overall conception of moral responsibility, understanding blame to be an incipient form of moral address. Michael Smith continues the theme, offering a possible theory of moral responsibility similarly grounded in the reactive emotions. T. M. Scanlon continues a debate that Scanlon and Watson have been having over the moral status of psychopaths. Jeanette Kennett argues that psychopaths are not accountable for their actions in the sense required for moral blameworthiness; and that psychopaths’ actions are not attributable to them so as to make them plausibly criminal. Antony Duff extends Watson’s work on moral responsibility to the domain of criminal responsibility. Gideon Yaffe seeks to better understand the prospects of Watson’s account of addiction. Gary Watson himself offers his current account of the distinction between the two faces of responsibility and thoughts on weakness of will and negligence. Finally, a 2016 interview of Watson by Sarah Buss is a wide-ranging and significant discussion of Gary’s personal history and philosophical development.

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