Current Account Sustainability
Sandra Hlivnjak
Broschiertes Buch

Current Account Sustainability

the case of Bosnia and Herzegovina

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This research investigates whether the persistent current account deficit in BH is sustainable. Initially current account (CA) sustainability is investigated by using the concept of a stationary condition and the mean reversion proposition. It is argued that stationarity of the CA presents a minimum requirement for CA sustainability assessment based on less strict intertemporal solvency conditions. It was found that four out of the five Western Balkan countries investigated have a stationary CA to GDP ratio and therefore met this minimum requirement for sustainability. In order to develop an e...