Macroprudential policies and current account balance

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2022

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Elsevier

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Economics
(1997)
Founded in 1997, the Department of Economics is among the founding departments of our University. The Department offers two extensive undergraduate programs, either in English or in Turkish. Our undergraduate programs are catered to developing our students’ skills of analytical thinking, and to practical education. In this regard, the Social Sciences Research and Training Laboratory, founded under the guidance of our department, offers hands-on training to our own students, students and academicians from other universities, and public institutions. Our Department also offers a Graduate Degree Program in Applied Economy and a Doctorate Degree Program in Political Economy for graduates of undergraduate and graduate degree programs.

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Abstract

Macroprudential policies have become essential tools for policymakers to maintain financial stability. We investigate the impact of macroprudential policies on the current account balance, considering the link between external imbalances and financial stability. Building on a panel VAR model, we further document that usage of a macroprudential instrument is associated with an improvement in the current account balance. Our findings suggest that the positive impact of macroprudential policy measures on the current account balance is more substantial in the deficit countries. (c) 2022 Economic Society of Australia, Queensland. Published by Elsevier B.V. All rights reserved.

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Ekinci, Mehmet/0000-0002-3523-6043; Özcan, Gülserim/0000-0002-8207-8930;
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Ekinci, Mehmet ORCID logo
Özcan, Gülserim ORCID logo

Keywords

Global imbalances, Current account balance, Macroprudential policies, Panel VAR

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1

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Volume

73

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Start Page

768

End Page

777

URI

https://doi.org/10.1016/j.eap.2022.01.003
 https://hdl.handle.net/20.500.14411/1829

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