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000037640 0247_ $$2Other$$aPrint ISSN 1514-0326
000037640 0247_ $$2Other$$aOnine ISSN 1667-6726
000037640 037__ $$a1510-2016-130993
000037640 037__ $$a1510-2016-131022
000037640 041__ $$aen
000037640 084__ $$aF21
000037640 084__ $$aF41
000037640 084__ $$aO51
000037640 245__ $$aSustainability of the US current account deficit: An econometric analysis of the impact of capital inflow on domestic economy
000037640 260__ $$c2004-11
000037640 269__ $$a2004-11
000037640 300__ $$a21
000037640 336__ $$aJournal Article
000037640 520__ $$aThe purpose of this paper is to estimate, by using the recent econometric techniques of unit root testing and Johansen-Juselius cointegration technique (1990), the impact of foreign capital inflow on the volume and efficiency of domestic investment in the United States during the period, 1973-1999. A battery of diagnostic tests is employed to check the validity and robustness of the estimated results. Evidence suggests that capital inflows have had a significant positive effect on the volume of US investment, but the effect on the efficiency of investment has been minimal. These findings imply that, while achieving current account balance is important, it is equally important to sustain and augment the beneficial impact of capital inflow by creating a more conducive investment climate. Given our limited ability to influence current account balance, this seems to be a more pragmatic policy option for dealing with the US current account imbalance.
000037640 542__ $$fLicense granted by Valeria Dowding (jae@cema.edu.ar) on 2008-06-27T18:10:37Z (GMT):

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000037640 6531_ $$acurrent account
000037640 6531_ $$acapital inflow
000037640 700__ $$aAnsari, Mohammed I.
000037640 773__ $$dNovember 2004$$jVolume 07$$kNumber 2$$o269$$q249$$tJournal of Applied Economics
000037640 8564_ $$s83887$$uhttp://ageconsearch.umn.edu/record/37640/files/ansari.pdf
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000037640 909CO $$ooai:ageconsearch.umn.edu:37640$$pGLOBAL_SET
000037640 912__ $$nSubmitted by Valeria Dowding (jae@cema.edu.ar) on 2008-06-27T18:14:32Z
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  Previous issue date: 2004-11
000037640 982__ $$gJournal of Applied Economics>Volume 7, Number 2, November 2004
000037640 980__ $$a1510