IMAJO DRŽAVE NA PREHODU PREKOMEREN PRIMANJKLJAJ NA TEKOČEM RAčUNU PLAČILNE BILANCE?

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    • Abstract:
      The main aim of the article is to examine the potential excessiveness of current account deficits transition countries. It is based on the estimated impact of selected macroeconomic and other determinants of current account deficits. Empirical results, which are mainly in line with theoretical and empirical expectations, indicate, among others, the validity of stages of development and the twin deficits hypothesis, the impact of real exchange rate appreciation, and terms of trade shocks and GDP growth in the EU-15 on the external balances in the region. On the basis of the estimated impacts of the selected current account determinants, the great majority of transition countries do not show ex post excessive current account deficit. [ABSTRACT FROM AUTHOR]
    • Abstract:
      Glavni namen članka je empirično preveriti vpliv izbranih (kratkoročnih) makroekonomskih in drugih dejavnikov primanjkljaja na tekočem računu in na tej podlagi potencialno prekomernost primanjkljajev tekočega računa držav na prehodu. Empirični rezultati, ki so v splošnem skladni s teoretičnimi in empiričnimi pričakovanji, med drugim pokažejo tudi veljavnost hipoteze o različnih razvojnih stopnjah, prisotnosti pojava dvojnega primanjkljaja, pomembnost realne apreciacije deviznega tečaja, pogojev menjave in gospodarske rasti držav EU-15 na plačilnobilančna gibanja držav na prehodu. Na koncu empirična analiza tudi pokaže, da večina držav na prehodu v obdobju 2000–2003 ni imela ex post prekomernega primanjkljaja na tekočem računu. [ABSTRACT FROM AUTHOR]
    • Abstract:
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