External Sustainability : A Stock Equilibrium Perspective

External Sustainability : A Stock Equilibrium Perspective

The authors consider external sustainability from the perspective of equilibrium in net foreign asset positions. Under their approach, an external situation is sustainable if it is consistent with international and domestic investors' achievin...

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Bibliographic Details
Main Authors:	Calderon, Cesar, Loayza, Norman, Serven, Luis
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ASSETS BALANCE OF PAYMENTS BUDGET CONSTRAINT CAPITAL ACCOUNT CAPITAL CONTROLS CAPITAL FLOWS CENTRAL BANK CENTRAL BANKS COST OF CAPITAL COUNTRY SAMPLE CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT DEFICITS DEFLATORS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DIRECT INVESTMENT DISCOUNTED VALUE DISEQUILIBRIUM EMPIRICAL ANALYSIS EQUILIBRIUM EXCHANGE RATE EXCHANGE RATE ARRANGEMENTS EXCHANGE RATES EXPECTED RETURNS EXPORTS EXTERNAL DEBT FACE VALUE FACTOR MARKETS FINANCIAL DEVELOPMENT FINANCIAL MARKETS FOREIGN ASSETS FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS GDP GROWTH RATE IMPORTS INCOME INCOME COUNTRIES INDUSTRIAL COUNTRIES INDUSTRIAL ECONOMIES INFLATION INFLATION RATE INTEREST RATES INTERNATIONAL RESERVES INVESTMENT OPPORTUNITIES LABOR INPUTS LIQUID LIABILITIES MACROECONOMIC INSTABILITY MARGINAL COSTS MARKET PRICES MARKET VALUE NET DEBT OIL PER CAPITA INCOME POLICY RESEARCH PORTFOLIO PORTFOLIO ASSETS POVERTY REDUCTION PRIVATE AGENTS PRODUCTIVITY PRODUCTIVITY GROWTH PROFITABILITY PROPERTY RIGHTS REAL INTEREST REAL INTEREST RATE REPLACEMENT COSTS STANDARD DEVIATION TERMS OF TRADE TRADE SHOCKS TRANSACTION COSTS VALUATION WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2000/01/438956/external-sustainability-stock-equilibrium-perspective http://hdl.handle.net/10986/19857

Internet

http://documents.worldbank.org/curated/en/2000/01/438956/external-sustainability-stock-equilibrium-perspective
http://hdl.handle.net/10986/19857

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