The corporate sector and the current account
"In this paper, we analyze how corporate sector behavior has affected national current account balances in a sample of 25 countries for the period 1980-2015. A consistent finding is that an increase (decrease) in corporate net lending leads to an increase (decrease) in the current account, cont...
| Main Authors: | , |
|---|---|
| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Düsseldorf
2019
IMK |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19307878124911250509-The-corporate-sector-and-the-c.htm |
| _version_ | 1771659899355267074 |
|---|---|
| author | Behringer, Jan van Treeck, Till |
| author_facet | Behringer, Jan van Treeck, Till |
| collection | Library items |
| description | "In this paper, we analyze how corporate sector behavior has affected national current account balances in a sample of 25 countries for the period 1980-2015. A consistent finding is that an increase (decrease) in corporate net lending leads to an increase (decrease) in the current account, controlling for standard current account determinants. We disentangle the current account effects of corporate saving and investment and we explore a number of alternative explanations of our results, including incomplete piercing of the "corporate veil", by households, foreign direct investment activities, a temporary crisis phenomenon, and changes in income inequality. We conclude that corporate sector saving is an important driver of macroeconomic trends and that the rise of corporate net lending especially in a number of current account surplus countries has contributed considerably to global current account imbalances." |
| format | TEXT |
| id | 19307878124911250509_ed81a71ec36f4383b5a438d04a054352 |
| institution | ETUI-European Trade Union Institute |
| is_hierarchy_id | 19307878124911250509_ed81a71ec36f4383b5a438d04a054352 |
| is_hierarchy_title | The corporate sector and the current account |
| language | English |
| physical | 45 p. Digital |
| publishDate | 2019 |
| publisher | Düsseldorf IMK |
| spellingShingle | Behringer, Jan van Treeck, Till corporate group enterprise macroeconomics foreign investment economic implication The corporate sector and the current account |
| thumbnail | https://www.labourline.org/Image_prev.jpg?Archive=138344695652 |
| title | The corporate sector and the current account |
| topic | corporate group enterprise macroeconomics foreign investment economic implication |
| url | https://www.labourline.org/KENTIKA-19307878124911250509-The-corporate-sector-and-the-c.htm |