TY  - JOUR
AU  - Milesi-Ferrett,Gian Maria
AU  - Razin,Assaf
TI  - Current Account Sustainability: Selected East Asian and Latin American Experiences
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5791
PY  - 1997
Y2  - March 1997
UR  - http://www.nber.org/papers/w5791
L1  - http://www.nber.org/papers/w5791.pdf
N1  - Author contact info:
Assaf Razin
Department of Economics
Cornell University
Uris 422
Ithaca, NY 14853
Tel: 607/255-9625
Fax: 607/255-2818
E-Mail: ar256@cornell.edu
M2  - featured in NBER digest on 1997-02-01
AB  - A number of developing countries have run large and persistent current account deficits in both the late seventies/early eighties and in the early nineties, raising the issue of whether these persistent imbalances are sustainable.  This paper puts forward a notion of current account sustainability and compares the experience of three Latin American countries -- Chile, Colombia and Mexico -- and three East Asian countries--Korea, Malaysia and Thailand.  It identifies a number of potential sustainability indicators and discusses their usefulness in predicting external crises.
ER  -