Current account adjustment and capital flows

Current account adjustment and capital flows

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Current account adjustment and capital flows

BIS Working Papers | No 169 | 01 February 2005by Guy Debelle and Gabriele GalatiPDF full text (177kb) | 30 pagesThis paper examines episodes of current account adjustment in industrial countries over the past 30 years. We find that they were typically associated with a sizeable slowdown in domestic growth and a large exchange rate depreciation.

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