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dc.contributor.authorMakin, Tonyen_US
dc.contributor.editorAlfred E. Eckes, Khosrow Fatemien_US
dc.date.accessioned2017-04-24T09:17:22Z
dc.date.available2017-04-24T09:17:22Z
dc.date.issued2005en_US
dc.date.modified2007-03-29T08:00:30Z
dc.identifier.issn1553-5304en_US
dc.identifier.urihttp://hdl.handle.net/10072/4622
dc.description.abstractLarge current account deficits and foreign debt levels remain a source of concern for international financial markets and policymakers. Yet, exactly what an "excessive" external deficit or liability position for an advanced economy is at any time has never been adequately defined. This paper addresses the question by proposing new methods for assessing the proximity of current account deficits and the associated foreign debt to their upper bounds. It contends that productive investment fundamentally sets the feasible limit for current account deficits, whereas the capital to output ratio ultimately sets the foreign debt to GDP limit. Benchmark estimates for the United States, Australia, New Zealand and the United Kingdom, advanced economies that have borrowed heavily since 1990, reveal external deficits have usually been well within limits, although recent United States experience is an exception.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.format.extent180804 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherWalter de Gruyter GmbHen_US
dc.publisher.placeUnited Statesen_US
dc.publisher.urihttp://www.bepress.com/gej/vol5/iss1/1/en_AU
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom1en_US
dc.relation.ispartofpageto14en_US
dc.relation.ispartofissue1en_US
dc.relation.ispartofjournalGlobal Economy Journalen_US
dc.relation.ispartofvolume5en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchcode349901en_US
dc.titleFeasible Limits for External Deficits and Debten_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.rights.copyrightCopyright 2005 Berkeley Electronic Press. Reproduced in accordance with the copyright policy of the publisher. This journal is available online - use hypertext links.en_AU
gro.date.issued2005
gro.hasfulltextFull Text


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