Growth effects (Mello, Padoan and Rousová)

The growth effects of current account reversals – The role macroeconomic policies by Luiz de Mello, Pier Carlo Padoan and Linda Rousová, published by OECD. “This paper assesses empirically whether or not current account reversals have permanent growth effects and the role of macroeconomic policies in this process. Current account reversals associated with a deterioration of external positions make impending GDP accelerations less likely.”