publication . Preprint . 2013

Rebalancing; Evidence from Current Account Adjustment in Europe

Ruben V Atoyan; Jonathan F Manning; Jesmin Rahman;
Open Access
  • Published: 22 Mar 2013
After the 2003-2007 economic boom, European countries with large pre-crisis current account imbalances are undergoing adjustments. Countries are adjusting at different paces and ways reflecting the source and magnitude of imbalances, availability of financing, competitiveness of the tradable sector and external environment. While emerging European countries with large pre-crisis imbalances and a fixed exchange rate regime have seen sharp current account adjustments and a rebound in growth, adjustment in the euro zone periphery countries, which are also carrying a legacy of pre-crisis CA imbalances, has been gradual with difficulties bringing back growth. This pa...
free text keywords: Economic integration;Current Account adjustment, Rebalancing, Competitiveness, Euro Zone Periphery, capital inflows, foreign capital, current account balance, capital flows, unemployment rate, Country and Industry Studies of Trade,
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