EMPIRICAL ANALYSIS OF THE FACTORS AFFECTING CURRENT ACCOUNT DEFICIT IN PAKISTAN

http://dx.doi.org/10.31703/ger.2020(V-II).07      10.31703/ger.2020(V-II).07      Published : Jun 2
Authored by : Minhajuddin , Malik Bakhsheesh , Muhammad Sohail Alam Khan

07 Pages : 89 - 100

References

  • AFM, K. H. (2006). Determinants of current account deficit in developing countries: The case of Bangladesh. Studies in Business Economics, 12(1), 5-22.
  • Afonso, A., & Jalles, J. T. (2019). Decomposing and analysing the determinants of current accounts' cyclicality: evidence from the Euro Area. Open economies review, 30(1), 133-156.
  • Ang, H., & Sek, S. (2011). Empirical investigation on the determinants of current account balances. International Journal of Advanced Computer Sciences, 1(4), 146-151.
  • Aristovnik, A., & Zajc, K. (2001). Current Account Performance and Fiscal Policy: Evidence on the Twin Deficits in Central and Eastern Europe. Economics of Transition: Theory, Experience and EU Enlargement, 121-140.
  • Baharumshah, A. Z., & Lau, E. (2007). Dynamics of fiscal and current account deficits in Thailand: An empirical investigation. Journal of Economic Studies.
  • Banday, U., & Aneja, R. (2016). How budget deficit and current account deficit are interrelated in Indian economy. Theoretical & Applied Economics, 23(1).
  • Bannaga, A. A. (2004). Adjustment policies and the current account balance: empirical evidence from Sudan (No. 1650-2016-135982).
  • Bitzis, G., Paleologos, J. M., & Papazoglou, C. (2008). The determinants of the greek current account deficit: the EMU experience. Journal of International and Global Economic Studies, 1(1), 105-122.
  • Brissimis, S. N., Hondroyiannis, G., Papazoglou, C., Tsaveas, N. T., & Vasardani, M. A. (2012). Current account determinants and external sustainability in periods of structural change. Economic Change and Restructuring, 45(1-2), 71-95.
  • Bussière, M., Fratzscher, M., & Müller, G. J. (2004). Current account dynamics in OECD and EU acceding countries-an intertemporal approach. European Central Bank Working Paper Series(311), 1-40. DOI: https://www.econstor.eu/bitstream/10419/152745/1/ecbwp0311.pdf
  • Calderon, C. A., Chong, A., & Loayza, N. V. (2002). Determinants of current account deficits in developing countries. The BE Journal of Macroeconomics, 2(1), 1-44.
  • Calista, C., Furceri, D., & Rusticelli, E. (2010). Structural and Cyclical Factors behind Current-Account Balances. Economics Department Working Paper No. 775.
  • Calvo, G. A. (2005). Crises in emerging market economies: A global perspective: National Bureau of Economic Research. NBER Working Paper No. 11305
  • Cavdar, S. C., & Aydin, A. D. (2015). Understanding the factors behind current account deficit problem: A panel logit approach on 16 OECD member countries. Procedia Economics and Finance, 30, 187-194.
  • Chete, L. N. (2001). Explaining current account behaviour in Nigeria. The Nigerian Journal of Economic and Social Studies, 43(2), 219-238.
  • Chinn, M. D., & Prasad, E. S. (2003). Medium-term determinants of current accounts in industrial and developing countries: an empirical exploration. Journal of International Economics, 59(1), 47-76.
  • Dam, M., Göçer, Ä°., Bulut, Ş., & Mercan, M. (2012). Determina nts of Turkey current account deficit: An econometric analysis. Paper presented at the 3rd International Symposium on Sustainable Development (3rd ISSD), Sarajevo, Bosnia and Herzegovina.
  • Debelle, G., & Faruqee, H. (1996). What determines the current account? A cross- sectional and panel approach. International Monetary Fund Working Papers, 96/58. DOI: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=882958
  • Doisy, N., & Hervé, K. (2003). Current deficits of the Central and Eastern European (CEE) countries: what implications for them are entering the European Union and the euro area?. International Economy, 93(1), 59-88.
  • Fayaz, M., & Kaur, S. (2016). Trends, patterns and determinants of Indian current account deficit. Applied Econometrics and International Development, 16(1), 167-186.
  • Gruber, J. W., & Kamin, S. B. (2007). Explaining the global pattern of current account imbalances. Journal of international Money and Finance, 26(4), 500-522
  • Gulzar, S., Feng, H. X., & Yajie, W. (2007). The current account balance of Pakistan 1972-2005: A cointegration analysis. Information Technology Journal, 6(5), 664- 671
  • Herrmann, S., & Jochem, A. (2005). Determinants of current account developments in the central and east European EU member states-consequences for the enlargement of the euro area. Discussion Paper Series 1: Economic Studies, 32(2005), 1-52. DOI: https://www.econstor.eu/bitstream/10419/19617/1/200532dkp.pdf
  • Jawaid, S. T., & Raza, S. A. (2013). Dynamics of current account deficit: A lesson from Pakistan. Transition Studies Review, 19(3), 357-366.
  • Khan, M. S., & Knight, M. D. (1983). Determinants of current account balances of non- oil developing countries in the 1970s: an empirical analysis. Staff Papers, 30(4), 819-842.
  • Kim, B. H., Min, H. G., Hwang, Y. S., & McDonald, J. A. (2009). Are Asian countries' current accounts sustainable? Deficits, even when associated with high investment, are not costless. Journal of Policy Modeling, 31(2), 163-179.
  • Kovacevic, R. (2017). Current Account determinants in Southeast European (SEE) countries-panel approach. Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu-Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business, 35(2), 391-424.
  • Krugman, P. R. (2008). International economics: Theory and policy, 8/E: Pearson Education India.
  • Kurniadi, A. P., & Aimon, H. (2018). Determinants of the current account balance in Indonesia. International Conferences on Educational, Social Sciences and Technology, 178-186. DOI: https://doi.org/10.24036/XXXXX
  • Kwalingana, S., & Nkuna, O. (2009). The determinants of current account imbalances in Malawi. MPRA Working Paper No. 14694
  • Loayza, N., Chong, A., & Calderón, C. (1999). Determinants of current account deficits in developing countries: The World Bank.
  • Minhajuddin, Khan, M. A., & Tariq, M. (2020). External debt - blessing or curse: Empirical evidence from Pakistan. International Journal of Economics and Financial Issues, 10(4), 235-246.
  • Minhajuddin, Khan, M. A., and Tariq, M. (2020). External Debt and Public Investment: A Case Study of Pakistan. Journal of Managerial Sciences, 14(2), 108-117
  • Morsy, H. (2009). Current account determinants for oil-exporting countries (No. 9-28). International Monetary Fund.
  • Morsy, H. (2012). Current account determinants for oil-exporting countries. Emerging Markets Finance and Trade, 48(3), 122-133.
  • Mukhtar, T., & Khan, A. H. (2016). The current account deficit sustainability: an empirical investigation for Pakistan. The Pakistan Development Review, 397- 419.
  • Narayan, S. W. (2020). Asian current account balances and spillovers from a foreign country, a region and the United States. Buletin Ekonomi Moneter Dan Perbankan, 23(1), 1-24.
  • Oshota, S. O., & Adeleke, I. A. (2015). Determinants of the current account balance in Nigeria, Ghana and Cote d'Ivoire. Acta Universitatis Danubius. Ã…Â’conomica, 11(3), 127-145.
  • Prat, J., Medina, L., & Thomas, M. A. H. (2010). Current Account Balance Estimates for Emerging Market Economies: International Monetary Fund.
  • Riaz, F., Javid, A. Y., & Mubarik, F. (2019). Macroeconomic Determinants of Current Account in South-Asian Countries. Paradigms, 13(1), 104-110.
  • Sadiku, L., Fetahi-Vehapi, M., Sadiku, M., & Berisha, N. (2015). The persistence and determinants of current account deficit of FYROM: an empirical analysis. Procedia Economics and Finance, 33, 90-102.
  • Samsu, S. H., & Ismail, N. A. (2020). The Relationship Between The Current Account Balance And Its Determinants Of Selected Middle-Income Countries. Quantum Journal of Social Sciences and Humanities, 1(4), 1-14
  • Tang, D. (2019). Determinants of the Current Account Balances among Central and Eastern European Countries in the European Union. European Review, 27(2), 220-245.
  • Uz, I. (2010). Determinants of current account: the relation between internal and external balances in Turkey. Applied Econometrics and International Development, 10(2), 115-126.
  • Wanjala, K., Kalio, A. M., & Kiprop, S. (2019). A Pooled Mean Group Analysis on the Determinants of Current Account Balance in the East Africa Community. International Journal of Science and Research (IJSR), 8(11), 270-277.
  • World Development Indicators. (2021). The World Bank.
  • Yurdakul, F., & Cevher, E. (2015). Determinants of current account deficit in Turkey: the conditional and partial Granger causality approach. Procedia Economics and Finance, 26, 92-100.
  • Zanghieri, P. (2004). Current account dynamics in new EU Members: Sustainability and policy issues. Available at SSRN 871453.

References

  • AFM, K. H. (2006). Determinants of current account deficit in developing countries: The case of Bangladesh. Studies in Business Economics, 12(1), 5-22.
  • Afonso, A., & Jalles, J. T. (2019). Decomposing and analysing the determinants of current accounts' cyclicality: evidence from the Euro Area. Open economies review, 30(1), 133-156.
  • Ang, H., & Sek, S. (2011). Empirical investigation on the determinants of current account balances. International Journal of Advanced Computer Sciences, 1(4), 146-151.
  • Aristovnik, A., & Zajc, K. (2001). Current Account Performance and Fiscal Policy: Evidence on the Twin Deficits in Central and Eastern Europe. Economics of Transition: Theory, Experience and EU Enlargement, 121-140.
  • Baharumshah, A. Z., & Lau, E. (2007). Dynamics of fiscal and current account deficits in Thailand: An empirical investigation. Journal of Economic Studies.
  • Banday, U., & Aneja, R. (2016). How budget deficit and current account deficit are interrelated in Indian economy. Theoretical & Applied Economics, 23(1).
  • Bannaga, A. A. (2004). Adjustment policies and the current account balance: empirical evidence from Sudan (No. 1650-2016-135982).
  • Bitzis, G., Paleologos, J. M., & Papazoglou, C. (2008). The determinants of the greek current account deficit: the EMU experience. Journal of International and Global Economic Studies, 1(1), 105-122.
  • Brissimis, S. N., Hondroyiannis, G., Papazoglou, C., Tsaveas, N. T., & Vasardani, M. A. (2012). Current account determinants and external sustainability in periods of structural change. Economic Change and Restructuring, 45(1-2), 71-95.
  • Bussière, M., Fratzscher, M., & Müller, G. J. (2004). Current account dynamics in OECD and EU acceding countries-an intertemporal approach. European Central Bank Working Paper Series(311), 1-40. DOI: https://www.econstor.eu/bitstream/10419/152745/1/ecbwp0311.pdf
  • Calderon, C. A., Chong, A., & Loayza, N. V. (2002). Determinants of current account deficits in developing countries. The BE Journal of Macroeconomics, 2(1), 1-44.
  • Calista, C., Furceri, D., & Rusticelli, E. (2010). Structural and Cyclical Factors behind Current-Account Balances. Economics Department Working Paper No. 775.
  • Calvo, G. A. (2005). Crises in emerging market economies: A global perspective: National Bureau of Economic Research. NBER Working Paper No. 11305
  • Cavdar, S. C., & Aydin, A. D. (2015). Understanding the factors behind current account deficit problem: A panel logit approach on 16 OECD member countries. Procedia Economics and Finance, 30, 187-194.
  • Chete, L. N. (2001). Explaining current account behaviour in Nigeria. The Nigerian Journal of Economic and Social Studies, 43(2), 219-238.
  • Chinn, M. D., & Prasad, E. S. (2003). Medium-term determinants of current accounts in industrial and developing countries: an empirical exploration. Journal of International Economics, 59(1), 47-76.
  • Dam, M., Göçer, Ä°., Bulut, Ş., & Mercan, M. (2012). Determina nts of Turkey current account deficit: An econometric analysis. Paper presented at the 3rd International Symposium on Sustainable Development (3rd ISSD), Sarajevo, Bosnia and Herzegovina.
  • Debelle, G., & Faruqee, H. (1996). What determines the current account? A cross- sectional and panel approach. International Monetary Fund Working Papers, 96/58. DOI: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=882958
  • Doisy, N., & Hervé, K. (2003). Current deficits of the Central and Eastern European (CEE) countries: what implications for them are entering the European Union and the euro area?. International Economy, 93(1), 59-88.
  • Fayaz, M., & Kaur, S. (2016). Trends, patterns and determinants of Indian current account deficit. Applied Econometrics and International Development, 16(1), 167-186.
  • Gruber, J. W., & Kamin, S. B. (2007). Explaining the global pattern of current account imbalances. Journal of international Money and Finance, 26(4), 500-522
  • Gulzar, S., Feng, H. X., & Yajie, W. (2007). The current account balance of Pakistan 1972-2005: A cointegration analysis. Information Technology Journal, 6(5), 664- 671
  • Herrmann, S., & Jochem, A. (2005). Determinants of current account developments in the central and east European EU member states-consequences for the enlargement of the euro area. Discussion Paper Series 1: Economic Studies, 32(2005), 1-52. DOI: https://www.econstor.eu/bitstream/10419/19617/1/200532dkp.pdf
  • Jawaid, S. T., & Raza, S. A. (2013). Dynamics of current account deficit: A lesson from Pakistan. Transition Studies Review, 19(3), 357-366.
  • Khan, M. S., & Knight, M. D. (1983). Determinants of current account balances of non- oil developing countries in the 1970s: an empirical analysis. Staff Papers, 30(4), 819-842.
  • Kim, B. H., Min, H. G., Hwang, Y. S., & McDonald, J. A. (2009). Are Asian countries' current accounts sustainable? Deficits, even when associated with high investment, are not costless. Journal of Policy Modeling, 31(2), 163-179.
  • Kovacevic, R. (2017). Current Account determinants in Southeast European (SEE) countries-panel approach. Zbornik radova Ekonomskog fakulteta u Rijeci, časopis za ekonomsku teoriju i praksu-Proceedings of Rijeka Faculty of Economics, Journal of Economics and Business, 35(2), 391-424.
  • Krugman, P. R. (2008). International economics: Theory and policy, 8/E: Pearson Education India.
  • Kurniadi, A. P., & Aimon, H. (2018). Determinants of the current account balance in Indonesia. International Conferences on Educational, Social Sciences and Technology, 178-186. DOI: https://doi.org/10.24036/XXXXX
  • Kwalingana, S., & Nkuna, O. (2009). The determinants of current account imbalances in Malawi. MPRA Working Paper No. 14694
  • Loayza, N., Chong, A., & Calderón, C. (1999). Determinants of current account deficits in developing countries: The World Bank.
  • Minhajuddin, Khan, M. A., & Tariq, M. (2020). External debt - blessing or curse: Empirical evidence from Pakistan. International Journal of Economics and Financial Issues, 10(4), 235-246.
  • Minhajuddin, Khan, M. A., and Tariq, M. (2020). External Debt and Public Investment: A Case Study of Pakistan. Journal of Managerial Sciences, 14(2), 108-117
  • Morsy, H. (2009). Current account determinants for oil-exporting countries (No. 9-28). International Monetary Fund.
  • Morsy, H. (2012). Current account determinants for oil-exporting countries. Emerging Markets Finance and Trade, 48(3), 122-133.
  • Mukhtar, T., & Khan, A. H. (2016). The current account deficit sustainability: an empirical investigation for Pakistan. The Pakistan Development Review, 397- 419.
  • Narayan, S. W. (2020). Asian current account balances and spillovers from a foreign country, a region and the United States. Buletin Ekonomi Moneter Dan Perbankan, 23(1), 1-24.
  • Oshota, S. O., & Adeleke, I. A. (2015). Determinants of the current account balance in Nigeria, Ghana and Cote d'Ivoire. Acta Universitatis Danubius. Ã…Â’conomica, 11(3), 127-145.
  • Prat, J., Medina, L., & Thomas, M. A. H. (2010). Current Account Balance Estimates for Emerging Market Economies: International Monetary Fund.
  • Riaz, F., Javid, A. Y., & Mubarik, F. (2019). Macroeconomic Determinants of Current Account in South-Asian Countries. Paradigms, 13(1), 104-110.
  • Sadiku, L., Fetahi-Vehapi, M., Sadiku, M., & Berisha, N. (2015). The persistence and determinants of current account deficit of FYROM: an empirical analysis. Procedia Economics and Finance, 33, 90-102.
  • Samsu, S. H., & Ismail, N. A. (2020). The Relationship Between The Current Account Balance And Its Determinants Of Selected Middle-Income Countries. Quantum Journal of Social Sciences and Humanities, 1(4), 1-14
  • Tang, D. (2019). Determinants of the Current Account Balances among Central and Eastern European Countries in the European Union. European Review, 27(2), 220-245.
  • Uz, I. (2010). Determinants of current account: the relation between internal and external balances in Turkey. Applied Econometrics and International Development, 10(2), 115-126.
  • Wanjala, K., Kalio, A. M., & Kiprop, S. (2019). A Pooled Mean Group Analysis on the Determinants of Current Account Balance in the East Africa Community. International Journal of Science and Research (IJSR), 8(11), 270-277.
  • World Development Indicators. (2021). The World Bank.
  • Yurdakul, F., & Cevher, E. (2015). Determinants of current account deficit in Turkey: the conditional and partial Granger causality approach. Procedia Economics and Finance, 26, 92-100.
  • Zanghieri, P. (2004). Current account dynamics in new EU Members: Sustainability and policy issues. Available at SSRN 871453.

Cite this article

APA

    APA : Minhajuddin., Bakhsheesh, M., & Khan, M. S. A. (2020). Empirical Analysis of the Factors affecting Current Account Deficit in Pakistan. Global Economics Review, V(II), 89 - 100. https://doi.org/10.31703/ger.2020(V-II).07

CHICAGO

    CHICAGO : Minhajuddin, , Malik Bakhsheesh, and Muhammad Sohail Alam Khan. 2020. "Empirical Analysis of the Factors affecting Current Account Deficit in Pakistan." Global Economics Review, V (II): 89 - 100 doi: 10.31703/ger.2020(V-II).07

HARVARD

    HARVARD : MINHAJUDDIN., BAKHSHEESH, M. & KHAN, M. S. A. 2020. Empirical Analysis of the Factors affecting Current Account Deficit in Pakistan. Global Economics Review, V, 89 - 100.

MHRA

    MHRA : Minhajuddin, , Malik Bakhsheesh, and Muhammad Sohail Alam Khan. 2020. "Empirical Analysis of the Factors affecting Current Account Deficit in Pakistan." Global Economics Review, V: 89 - 100

MLA

    MLA : Minhajuddin, , Malik Bakhsheesh, and Muhammad Sohail Alam Khan. "Empirical Analysis of the Factors affecting Current Account Deficit in Pakistan." Global Economics Review, V.II (2020): 89 - 100 Print.

OXFORD

    OXFORD : Minhajuddin, , Bakhsheesh, Malik, and Khan, Muhammad Sohail Alam (2020), "Empirical Analysis of the Factors affecting Current Account Deficit in Pakistan", Global Economics Review, V (II), 89 - 100

TURABIAN

    TURABIAN : Minhajuddin, , Malik Bakhsheesh, and Muhammad Sohail Alam Khan. "Empirical Analysis of the Factors affecting Current Account Deficit in Pakistan." Global Economics Review V, no. II (2020): 89 - 100. https://doi.org/10.31703/ger.2020(V-II).07