| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9990 |
| DP9990 Merchanting and Current Account Balances | |
| Andreas Fischer; Pınar Yeşin | |
| 发表日期 | 2014-05-25 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Merchanting is goods trade that does not cross the border of the firm's country of residence. Merchanting grew strongly in the last decade in several European economies and has become an important determinant of these countries' current account. Because merchanting firms reinvest their earnings abroad to expand their international activities, this practice raises national savings in the home country without increasing domestic investment. This results in a larger current account surplus. To show the empirical links between merchanting and the current account balance, two exercises are performed in this paper using a sample of 53 countries during 1980-2011. The first exercise estimates the savings impact of merchanting countries in empirical models of the medium-term current account. The second exercise shows that merchanting's impact on the country's current account is sensitive to firm mobility. |
| 主题 | International Macroeconomics |
| 关键词 | Current account adjustment Industry dynamics Merchanting |
| URL | https://cepr.org/publications/dp9990 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538822 |
| 推荐引用方式 GB/T 7714 | Andreas Fischer,Pınar Yeşin. DP9990 Merchanting and Current Account Balances. 2014. |
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