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Title: COLLATERAL CONSTRAINTS AND THE CURRENT ACCOUNT: THEORY AND EVIDENCE
Authors: Kunieda, Takuma
Okada, Keisuke
Shibata, Akihisa  kyouindb  KAKEN_id  orcid https://orcid.org/0000-0002-2284-1332 (unconfirmed)
Author's alias: 柴田, 章久
Issue Date: Jan-2016
Publisher: Wiley-Blackwell
Journal title: Economic Inquiry
Volume: 54
Issue: 1
Start page: 633
End page: 651
Abstract: We investigate the impact of domestic financial frictions on the current account dynamics in Asian countries before and after the Asian financial crisis in 1997–1998 by introducing collateral constraints into the intertemporal current account approach. We examine six Asian countries. Before the crisis, collateral constraints significantly impact the current account in Korea, Malaysia, the Philippines, and Thailand, but after the crisis, they do not. Our study shows that the impact of domestic financial frictions on the current account changes before and after a financial crisis.(JEL F32, F41)
Rights: This is the accepted version of the following article: [Kunieda, T., Okada, K. and Shibata, A. (2016), COLLATERAL CONSTRAINTS AND THE CURRENT ACCOUNT: THEORY AND EVIDENCE. Economic Inquiry, 54: 633–651.], which has been published in final form at https://doi.org/10.1111/ecin.12251. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
This is not the published version. Please cite only the published version.
この論文は出版社版でありません。引用の際には出版社版をご確認ご利用ください。
URI: http://hdl.handle.net/2433/217905
DOI(Published Version): 10.1111/ecin.12251
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