INTERTEMPORAL APPROACH TO THE CURRENT ACCOUNT: EVIDENCE FROM SAUDI ARABIA, 1969-1997

• 발행기관: People & Global Business Association
• 저자명: Ahmed A Al Nassar Stephen P Davies Terutomo Ozawa
• 간행물 정보: 『Global Business and Finance Review』Vol.5 No.2, 97~106쪽, 전체 9쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2000.12.31

영문 초록

The Saudi Arabian current account (CA) has fluctuated sharply over the last thirty years. The Saudi government has striven to manage its CA balance over time by making necessary adjustments in internal expenditures to achieve intertemporal optimization. This paper tests the effectiveness of such a government policy by way of an intertemporal approach to CA. The estimation results (Granger-causality test, formal test, and equality-of variances test) indicate that the model captures the statistically important features of the current account behavior for the period of 1969-1997, which demonstrates a high level of effectiveness in the Saudi CA management.

목차

Abstract

INTRODUCTION

METHODOLOGY

ANALYTICAL FRAMEWORK

EMPIRICAL ESTIMATION AND RESULTS

REMOVING CONSUMPTION-TILTING FROM THE CA SERIES

CONSTRUCTING THE OPTIMAL CURRENT ACCOUNT SERIES

TESTING THE MODEL

DISCUSSION OF RESULTS AND CONCLUSIONS

REFERENCES