The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two

This paper studies large reductions in current account deficits and exchange rate depreciations in low- and middle-income countries. It examines which factors h

Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future o

The current account deficit of the United States is more than six percent of its gross domestic product—an all-time high. And the rest of the world, including

This is the 2004 (Volume 51) Special Issue of IMF Staff Papers, which includes 6 selected papers (from more than 20) that were presented at the IMF's Fourth Ann