English, Article edition: CURRENT ACCOUNT DEFICITS IN THE TRANSITION ECONOMIES Mark J. Holmes

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Bookmark: http://trove.nla.gov.au/version/197582
Physical Description
  • article
Language
  • English

Edition details

Title
  • CURRENT ACCOUNT DEFICITS IN THE TRANSITION ECONOMIES
Author
  • Mark J. Holmes
Physical Description
  • article
Notes
  • unit root, transition economies, panel data, current account
  • RePEc:prg:jnlpep:v:2004:y:2004:i:4:id:247:p:347-358
  • This study tests for the stationarity and sustainability of current account deficits for ten transition economies. For this purpose, a new test is employed that allows one to test for unit roots in heterogeneous panel datasets. While the benefits from creating a panel to overcome low test power are well known, this test also offers key advantages over existing alternative panel data unit root tests: it is able to identify which members within the panel are responsible for rejecting the null hypothesis of joint non-stationarity. In addition, the SURADF test does not presume disturbances that are independently and identically distributed. Using data covering 1993 – 2001, this study finds strong evidence in favour of current account mean-reversion for six countries. Of the six countries in the sample that joined the European Union in May 2004, non-stationarity was confirmed in the case of Lithuania only.
  • transition economies, panel data, current account, unit root
Language
  • English
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