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dc.contributor.authorMakin, Tonyen_US
dc.contributor.authorNarayan, Paresh Kumaren_US
dc.contributor.editorJames Lothianen_US
dc.date.accessioned2017-05-03T12:19:29Z
dc.date.available2017-05-03T12:19:29Z
dc.date.issued2011en_US
dc.date.modified2011-09-08T06:58:37Z
dc.identifier.issn02615606en_US
dc.identifier.doi10.1016/j.jimonfin.2011.01.007en_AU
dc.identifier.urihttp://hdl.handle.net/10072/40694
dc.description.abstractThis paper examines whether domestic or foreign net saving predominantly influences an economy's international borrowing and lending with reference to the experience of western European economies that have had sizable current account surpluses and deficits since the turn of the century. It proposes that if an international lender country's current account surplus is positively (negatively) related to its real long term interest rate, then foreign (domestic) factors are driving its external imbalance. On the contrary, for a foreign borrower country if its current account deficit is positively (negatively) related to its real long term interest rate, domestic (foreign) factors drive its external imbalance. On this basis, it shows econometrically for major European lender economies, Germany, the Netherlands, Switzerland and Sweden, that external imbalances this decade were mainly determined by foreign factors, though by domestic factors for Norway. For major borrower economies, Italy, Spain, Portugal, Ireland and the United Kingdom, the results were not significant implying that neither domestic nor foreign factors predominated over this time.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherPergamonen_US
dc.publisher.placeUnited Kingdomen_US
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom537en_US
dc.relation.ispartofpageto546en_US
dc.relation.ispartofissue3en_US
dc.relation.ispartofjournalJournal of International Money and Financeen_US
dc.relation.ispartofvolume30en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchInternational Economics and International Financeen_US
dc.subject.fieldofresearchcode140210en_US
dc.titleHave Domestic or Foreign Factors Driven European External Imbalances?en_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
gro.date.issued2011
gro.hasfulltextNo Full Text


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