Politická ekonomie 2005, 53(6):747-764 | DOI: 10.18267/j.polek.535

Vztah deficitu běžného účtu platební bilance a rozpočtového deficitu - analýza panelových dat

Josef Arlt, Markéta Arltová
Vysoká škola ekonomická v Praze.

The relationship of budget deficit and current account balance - panel data analysis

Panel data are increasingly being used in both macro- and micro-level studies of economic problems. Macro-panel data (i denotes countries) are characteristic by sufficiently long time series to be able to analyze panel spurious regression and panel cointegration. According to the main stream of the economic theory the budget deficits leads to deterioration in the current account balance. The panel long-run causal relation is examined in the case of the four groups of countries. For the Granger causality test the panel cointegration analysis is needed. The panel cointegration relationships were not found in any case. Some similarities in the panels were found in the case of Latin America countries but they are not significant.

Keywords: causality, budget deficit, panel data, current account balance, panel cointegration analysis
JEL classification: C22, C23, E62

Published: December 1, 2005  Show citation

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Arlt, J., & Arltová, M. (2005). The relationship of budget deficit and current account balance - panel data analysis. Politická ekonomie, 53(6), 747-764. doi: 10.18267/j.polek.535
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