Front Matter Page
Middle East and Central Asia Department
Contents
ABSTRACT
I. INTRODUCTION
II. THEORETICAL CHANNELS AND EXISTING RELEVANT LITERATURE
A. The Role of the Exchange Rate
B. The Role of Fiscal Policy
III. EMPIRICAL SECTION
A. Sample
B. Current Account Balance Regressions
C. Trade balance Regressions
D. Robustness Checks
IV. CONCLUSION
References
Figure
1. External Balance, Fiscal Policy and Exchange Rate, 1995–2014
Tables
1. Oil Exporters: Keys Characteristics
2. Long-run Price Elasticities of Trade Volumes
3. Current Account Balance Regressions
4. Trade Balance Regressions
5. Current Account and Trade Balance Responses to Nominal Effective Exchange Rate
6. Non-Oil Current Account Response to Non-oil Fiscal Balance and Exchange
Appendix Tables
1. Sample
2. Variables Description and Source
3. Correlation Table
4: Current Account Regressions – Including all the EBA-Lite Regressors
5. Current Account Regressions – GCC Countries
6. Trade Balance Regressions – GCC Countries